02473 喜相逢集團
XXF
XXF
| Listing Date | 2023/11/09 |
| Listing Price | 1.100 |
Subscription Result
- Subscription Rate14.71x
- Guarantee One Lot Size18 lot
- One Lot Success Rate6.76%
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IPO Detail
COMPANY PROFILE
XXF Group is an established automobile retailer providing automobile finance lease service primarily through self-operated sales outlets in the PRC. Its principal businesses comprise: automobile retail and finance, where it sells non-luxury automobiles mostly on direct finance lease; and automobile-related businesses, where it primarily offers automobile operating lease service and other automobile-related services.
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According to the CIC Report, in terms of transaction volume of direct finance lease, the Group ranked 4th and had market share of approximately 4.1% in the PRC in 2022.
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Its customers of automobile retail and finance business are mainly individuals in the PRC’s tier two, and tier three and below cities looking for non-luxury automobile models. It offered non-luxury automobiles of over 50 brands. As at 20 Oct 2023, it operated 77 sales outlets across 25 provinces and municipalities in the PRC.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Automobiles |
| Major Business Area | China |
| Board Lot | 2500 |
GLOBAL OFFERING
| No. of Offer Shares | 103.13M shares |
| No. of International Offer Shares | 92.81M shares |
| No. of HK Offer Shares | 10.31M shares |
| Offer Price | $1.05 - $1.36 |
| Stock Code | 2473 |
| Sponsor(s) | Quam Capital Limited |
| Underwriter(s) | Quam Securities Limited, CCB International Capital Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMB International Capital Limited, Eddid Securities and Futures Limited, Fortune (HK) Securities Limited, Innovax Securities Limited, Livermore Holdings Limited, Luk Fook Securities (HK) Limited, Shenwan Hongyuan Securities (H.K.) Limited, SPDB International Capital Limited, ZMF Asset Management Limited |
TIME TABLE
| Application Period | Oct 30 (Mon) - noon, Nov 02 (Thu) |
| Price Determination Date | Nov 02 (Thu) |
| Result Announcement Date | On or before Nov 08 (Wed) |
| Result Announcement Date | On or before Nov 08 (Wed) |
| Result Announcement Date | On or before Nov 08 (Wed) |
| Dealings in Shares commence on | Nov 09, 2023. (Thu) |
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 | $1.05 - $1.36 |
| Capitalization | 541.40M - 701.30M |
| NAV / share ($) | $1.52 - $1.58 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 1.205, the net proceeds raised would be HKD 40.00M, of which |
| 71.6% : Purchasing more vehicles to increase revenue |
| 28.4% : Expanding sales network to increase market penetration |
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).