Core Viewpoint - The Chinese noodle chain "Yujian Xiaomian" (02408.HK) successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 685 million through its IPO, with a strong demand reflected in the oversubscription rates of 425.97 times for the public offering and 4.99 times for the international offering [2]. Group 1: IPO Details - Yujian Xiaomian issued 97.3645 million H-shares, representing 13.70% of the total shares post-IPO, with a maximum price set at HKD 7.04 per share [2]. - The net proceeds from the fundraising are approximately HKD 617 million [2]. - The IPO attracted five cornerstone investors who collectively subscribed for shares worth USD 22 million (approximately HKD 171 million) [2]. Group 2: Shareholder Structure - Post-listing, the controlling shareholders, including Song Qi and Su Xuxiang, hold a combined stake of approximately 45.98% [3]. - Other notable shareholders include Baifu Holdings (13.33%), Jiumaojiu (5.61%), and various individual investors [3]. Group 3: Company Overview - Founded in 2014, Yujian Xiaomian specializes in modern Chinese noodle dishes, primarily focusing on Chongqing-style noodles, and has expanded its menu to include various spicy and non-spicy dishes [3]. - The company operates 451 restaurants across 22 cities in mainland China and 14 in Hong Kong, with 115 additional restaurants in preparation [3]. - According to Frost & Sullivan, Yujian Xiaomian is the largest operator of Sichuan-Chongqing style noodle restaurants in China and ranks fourth among all Chinese noodle restaurant operators by total merchandise transaction value for 2024 [3]. Group 4: Market Performance - As of the midday closing, Yujian Xiaomian's share price was HKD 5.12, with a total market capitalization of approximately HKD 3.639 billion [4]. - The stock experienced a high of HKD 5.50 and a low of HKD 4.98 within the last two weeks, with a price-to-earnings ratio of 41 (trailing) and 58 (forward) [5]. Group 5: Underwriting Team - The IPO was primarily managed by CMB International as the sole sponsor and global coordinator, with several other firms involved in various capacities [6].
遇见小面(02408)，成功在香港上市