02419 德康農牧
DEKON AGR
DEKON AGR
| Listing Date | 2023/12/06 |
| Listing Price | 36.950 |
Subscription Result
- Subscription Rate1.88x
- Guarantee One Lot Size1 lot
- One Lot Success Rate100%
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IPO Detail
COMPANY PROFILE
Dekon Food and Agriculture Group is a leading and rapidly growing livestock and poultry breeding and farming enterprise in China, focusing on the breeding and farming of pigs and yellow-feathered broilers. With a vertically integrated industry chain covering the breeding and farming of pigs and yellow-feathered broilers and feed production.
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The Group business consists of three segments, namely pig, poultry, and ancillary products. As at 31 May 2023, it business footprint covered 39 cities across 13 provinces and autonomous regions in China. Apart from the Self-operated Farm model, the Group also adopt the Family Farm model, In addition to breeding and farming of pigs and yellow-feathered broilers at its own facilities, The Group also cooperate with farm owners in pig and poultry production.
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in terms of sales volume of pigs for 2022; the Group ranked sixth among all pig suppliers in China in terms of sales volume of pigs with a market share of 0.8%. It ranked third among all yellow-feathered broiler suppliers in China in terms of sales volume of yellow-feathered broilers with a market share of 2.1%.
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Customers for The Group market hogs are mainly pig dealers. Customers for breeding pigs and market piglets are mainly large-scale pig breeding and farming companies and to a lesser extent, small and medium-sized farms. Customers for The Group broilers mainly include dealers. Chicks customers mainly include dealers and broiler farmers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Agricultural Products |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 26.91M H shares |
| No. of International Offer Shares | 24.22M H shares |
| No. of HK Offer Shares | 2.69M H shares |
| Offer Price | $30.35 - $36.95 |
| Stock Code | 2419 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Asia Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Asia Limited, China Everbright Securities (HK) Limited, BOCI Asia Limited, ABCI Securities Company Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMBC Securities Company Limited, ICBC International Securities Limited, CMB International Capital Limited, Citrus Securities Limited, Valuable Capital Limited, Silverbricks Securities Company Limited |
TIME TABLE
| Application Period | Nov 27 (Mon) - noon, Dec 01 (Fri) |
| Price Determination Date | Dec 04 (Mon) |
| Result Announcement Date | On or before Dec 05 (Tue) |
| Result Announcement Date | On or before Dec 05 (Tue) |
| Result Announcement Date | On or before Dec 06 (Wed) |
| Dealings in Shares commence on | Dec 06, 2023. (Wed) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $30.35 - $36.95 |
| Capitalization | 11.80B - 14.37B |
| NAV / share ($) | $10.18 - $10.62 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 33.65, the net proceeds raised would be HKD 787.90M, of which |
| 50% : Expanding existing pig and yellow-feathered broiler farming business |
| 15% : Developing food processing business |
| 10% : Investment in R&D and information technology system |
| 10% : Strategic investments or potential acquisitions |
| 5% : Repaying certain outstanding bank loans with interest ranging from 2.1% to 4.15% |
| 10% : working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).