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新股配售 | 中原建業一手中籤率30%,公開認購4.99倍,國配1.72倍,偏上限定價,無回撥,有綠鞋
uSMART盈立智投 05-28 15:31

uSMART盈立智投5月28日消息,中原建業今日公佈中籤結果,並將於16:15-18:30進行暗盤交易。

【配售小結】

①認購清冷:相較大熱門京東物流的137萬申購人數,中原建業僅獲2.1萬人申購,公開認購倍數僅4.99倍,國配1.72倍;優先給建業地產股東的股份,則認購不足額。影響情緒的原因或爲:1)京東物流吸走資金;2)分派及分拆,帶來的市場疑慮,3)發行市值看齊"代建第一股"綠城管理控股。

②有綠鞋,穩價人系法巴:法巴和建業系的關係不淺,建業新生活就是法巴獨家保薦,國際發售已超額分配49,224,000股股份,有15%的綠鞋子彈。由於公開比例最終只有10%,國配貨源又高度集中在前25名承配人,中原建業暗盤和首日的走勢,很大程度上將取決於前25名承配人的意願,也取決於獲得派股的合資格建業地產股東。

分派及分拆:按照招股書,上市前中原建業由建業地產100%控股,總股份數約爲32.82億股,以“分拆+全球發售”的方式上市:其中29.54億股將按持股比例分配給建業地產的股東,佔比90%,剩餘10%約3.282億股,將進行全球發售。

上述的32.82億,除了控股股東持有部分(2,056,931,867股)、基石持有部分(15,528,000股)有限售,其餘均無限售規定。

④中籤率高,打和點低:甲尾打和點約4%,乙組打和點約1.2%。

⑤中原建業 VS 綠城管理控股:綠城管理控股是中國最大的代建公司,也是港股市場上的"代建第一股",自今年3月底以來,走出了一波慢牛趨勢,目前市值104億港元左右,市盈率19.92倍;中原建業發行市值即高達98.86億港元,市盈率12.19倍。

【配售小結】

1、發售價:3港元,爲招股價區間(2.4港元-3.2港元)的上限區間

2、一手市值:6000港元,每手2000股

3、有效申購人數:21,431名(甲組:21,418名,乙組:13 名)

4、實際中籤人數:7,728名

5、中籤概況:一手中籤率30%,申購20手穩中1手,甲尾中11手,乙頭中500手,無頂頭槌單

6、公開認購倍數:4.99倍(甲組:7.61倍,乙組:2.38倍)

7、優先發售:認購倍數僅0.72倍,共28名合資格建業地產股東認購

8、國際發售:1.72倍,合共有137名承配人,前25名承配人合共獲配95.27%的發行股份

9、回撥情況:無回撥,最終公開佔比10%,國配佔比90%

10、基石投資者(1名):祥來認購15,528,000股,鎖定4.73%的發行股份

11、關聯客戶(1名):建銀國際,獲配28,410,000股發售股份,鎖定8.66%的發行股份

12、超額配股權:國際發售已超額分配49,224,000股股份,有綠鞋

13、穩定價格操作人:法國巴黎證券(亞洲),穩價結束日爲2021年6月23日

14、uSMART盈立智投暗盤交易時間:5月28日16:15-18:30

注:以上佔比均假設超額配股權未獲行使

【中籤分配基準】

【優先發售的分配基準】

【持股集中度分析】

【基石投資者】

【禁售承諾】

點擊可跳轉閱讀《中原建業發售價及配發結果公告》原文件

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