On June 25, Capital State learned that Morimatsu International announced that the Hong Kong IPO offer price was determined to be 2 per shareHK$48, and the net proceeds from the Global Offering are expected to be approximately 5HK$3.9 billion.
Specifically, the Hong Kong public offering was subscribed 2371 times, the final number of Offer Shares in the Hong Kong Public Offering has been increased to 75,000,000 Offer Shares, representing 30% of the initial available Offer Shares in the Global Offering (prior to the exercise of any over-allotment option), which was allocated to 32,186 successful applicants for the Hong Kong Public Offering.
In terms of the International Placing, it was moderately oversubscribed, which is equivalent to the initial available for subscription under the International Placing2The total number of 2.5 billion Offer Shares is approximately 236 times. The final number of offer shares under the International Placing is 17.5 billion Offer Shares, representing 70% of the total number of Offer Shares initially available for subscription under the Global Offering (prior to the exercise of any over-allotment option).
In terms of cornerstone investment, cornerstone investors such as Huayou Hong Kong and WuXi Biologics have a total recognition of 1163 Offer Shares, representing approximately 46 Offer Shares under (a) the Global Offering (prior to the exercise of any over-allotment option).5%;and (b) approximately 116%。
According to the prospectus, Morimatsu International, headquartered in Shanghai, is the fourth largest pressure equipment manufacturer and integrated pressure equipment solution provider in China.
According to the Frost & Sullivan report, the company is the fourth largest pressure equipment manufacturer and comprehensive pressure equipment solution provider in China in terms of sales revenue in 2019, with a market share of about 15%, the company is also China's largest non-state-owned pressure equipment manufacturer and comprehensive pressure equipment solution provider. In terms of sales revenue in 2019, the Company is the fifth and eighth largest manufacturers in China in terms of sales revenue in the traditional pressure equipment segment and the modular pressure equipment segment, with a market share of approximately 12% and 19%。
Morimatsu expects the shares to be listed on June 28, 2021 in board lots of 1,000 shares.