09639 榮利營造
WING LEE DEV
WING LEE DEV
| Listing Date | 2024/10/09 |
| Listing Price | 0.730 |
Quote
Subscription Result
- Subscription Rate120.60x
- Guarantee One Lot Size16 lot
- One Lot Success Rate25%
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IPO Detail
COMPANY PROFILE
Wing Lee Development Construction Holdings Limited is an established contractor in Hong Kong engaged in civil and electrical cable engineering and solar PV system works.
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The Group’s civil engineering works specialises in site formation works and road and drainage works, and its electrical cable engineering works specialises in cable trenching, laying and jointing works. For solar PV system works, it specialises in design, installation and maintenance works of solar PV systems. To a lesser extent, it leased machinery and traded construction materials to contractors and subcontractors on an ad hoc basis in a limited number of projects in which it participated in.
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As estimated by Frost & Sullivan, the aggregate market share of top three market participants in civil engineering industry in Hong Kong in 2023 was approximately 22.4%. The Group’s revenue accounting for a market share of approximately 0.6% in the overall civil engineering industry in Hong Kong in 2023. According to the Industry Report, the Group is the largest power cabling & civil pipeline installation subcontractor in Hong Kong in 2023 with the market share of 13.6% based on revenue for FY2023/24.
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The Group’s customers mainly included the CLP Group and its main contractors, construction contractors in Hong Kong, joint ventures formed by PRC state-owned enterprises through their subsidiaries, and various Government departments.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Construction |
| Major Business Area | Hong Kong |
| Board Lot | 5000 |
GLOBAL OFFERING
| No. of Offer Shares | 250.00M shares |
| No. of Placing Shares | 125.00M shares |
| No. of Public Offer Shares | 125.00M shares |
| Offer Price | $0.57 - $0.73 |
| Stock Code | 9639 |
| Sponsor(s) | Alliance Capital Partners Limited |
| Underwriter(s) | Alliance Capital Partners Limited, ABCI Securities Company Limited, China Galaxy International Securities (Hong Kong) Co., Limited, China Industrial Securities International Capital Limited, Cinda International Capital Limited, CMBC Securities Company Limited, Futu Securities International (Hong Kong) Limited, Gaoyu Securities Limited, Haitong International Securities Company Limited, Livermore Holdings Limited, Phillip Securities (Hong Kong) Limited, ZMF Asset Management Limited |
TIME TABLE
| Application Period | Sep 27 (Fri) - noon, Oct 04 (Fri) |
| Price Determination Date | Oct 07 (Mon) |
| Result Announcement Date | On or before Oct 08 (Tue) |
| Result Announcement Date | On or before Oct 08 (Tue) |
| Result Announcement Date | On or before Oct 09 (Wed) |
| Dealings in Shares commence on | Oct 09, 2024. (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 | $0.57 - $0.73 |
| Capitalization | 570.00M - 730.00M |
| NAV / share ($) | $0.27 - $0.31 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 0.65, the net proceeds raised would be HKD 130.50M, of which |
| 45% : Acquiring additional electric machinery and equipment |
| 35% : Paying upfront costs for new projects |
| 5% : Recruiting new staff members |
| 5% : Procuring Smart Site Safety System (4S) and an enterprise resources planning system |
| 10% : Working capital |
IPO NEWS
| 09/10/2024 16:08 |
| {New Stock}WING LEE DEV(09639) ends down 15.07% at HK$0.62 |
| 09/10/2024 09:20 |
| {New Stock}WING LEE DEV(09639) opens down 31.51% at HK$0.5 |
| 08/10/2024 18:35 |
| {New Stock}WING LEE DEV ends down 21.92% on grey market |
| 08/10/2024 16:20 |
| {New Stock}WING LEE DEV down 45.21% at HK$0.4 on grey market |
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).