Jul 14, 2020 (China Knowledge) – Niutech Environment Technology (688309) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 24.79 per share, raising RMB 495.87 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 31.44.
Founder Financing Services acted as the lead underwriter and sponsor for the IPO.
Earlier, Niutech Environment Technology said its IPO was times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Niutech Environment Technology Corp is a manufacturer and wholesaler of industrial machinery. The Company was founded in April 2006 and is located in Jinan, China.
In financial year 2019, Niutech Environment Technology garnered a total revenue of RMB 234.82 mln, down 7% YoY. In terms of net income, it achieved RMB 64 mln, down 18% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 32.48% and 19.77% respectively, earning per share (EPS) of 1.07 RMB.
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