Company Overview - The company, 新琪安 (02573), is a producer of food-grade glycine and sucralose, with over 20 years of industry experience [1] - It ranks first in the global food-grade glycine manufacturing industry based on sales volume and revenue for 2023, holding approximately 5.1% and 3.1% of the global market share respectively [1] - The company's food-grade glycine accounted for about 0.31% of the global food additive market by sales volume in 2023 [1] IPO Details - The company plans to conduct an IPO from May 30 to June 5, 2025, offering 10,585,400 H-shares, with 10% allocated for public sale in Hong Kong and 90% for international sale, plus an additional 15% over-allotment option [1] - The expected price range for the shares is HKD 18.9 to 20.9 per share, with shares anticipated to be listed on June 10, 2025 [1] Use of Proceeds - Assuming a share price of HKD 19.9 and no exercise of the over-allotment option, the net proceeds from the global offering are estimated to be approximately HKD 174.3 million [2] - About 21.3% of the proceeds will be allocated to the construction of a production line for isomaltitol at a factory in Thailand, with an expected annual capacity of 15,000 tons [2] - Approximately 55.3% will be used over the next two years for the production of algal dietary fiber and serine [2] - Around 13.4% will be invested in enhancing research and development capabilities [2] - About 10.0% will be utilized for working capital and general corporate purposes [2] Strategic Partnerships - The company has entered into cornerstone investment agreements with The Reynold Lemkins Group (Asia) Limited and 合赢香江控股有限公司, agreeing to subscribe for shares at the offer price, with a total investment not exceeding HKD 60 million [2]
新琪安(02573)拟全球发售1058.54万股 引入Reynold Lemkins及合赢香江作为基石投资者