Group 1 - The company, Xiangjiang Electric (02619.HK), plans to globally offer 68.22 million H-shares, with 6.822 million shares available in Hong Kong and 61.398 million shares for international offering [1] - The expected pricing range for the shares is between HKD 2.86 and HKD 3.35 per share, with the subscription period from June 17 to June 20, 2025, and the expected listing date on June 25, 2025 [1] - The company has appointed Guotai Junan Securities (Hong Kong) as the sole sponsor for the offering [1] Group 2 - The company operates primarily in the ODM/OEM model and has established a customer base consisting of globally recognized brands such as Walmart, Telebrands, and Philips [2] - The majority of the company's revenue comes from the sales of kitchen small appliances, ranking as the tenth largest player in China's kitchen small appliance industry with a market share of 0.8% as of 2024 [2] - The company specializes in both electrical and non-electrical home products, with electrical products categorized into three main types: heating appliances, electric appliances, and electronic appliances [2] Group 3 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for approximately 27.603 million H-shares, representing about 40.46% of the total shares offered [3] - The estimated net proceeds from the global offering are approximately HKD 171.8 million, assuming a mid-point offer price of HKD 3.11 per share [3] - The company plans to allocate approximately 41.9% of the net proceeds for establishing a factory in Thailand, 15.8% for automation and digital upgrades, 37.3% for a new R&D center, and 5.0% for general working capital [3]
香江电器(02619.HK)预计6月25日上市 引入顺捷投资等基石
Ge Long Hui·2025-06-16 23:30