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新股定價 | 傳萬物雲以中下限49.35港元定價

萬物雲招股期已於22日正午結束,據彭博報道,萬物雲將以每股49.35港元定價,爲招股價範圍47.1-52.7港元的中下限區間。據不完全統計,萬物雲孖展認購僅0.14倍。

興業證券認爲,公司作爲龍頭可享有一定估值溢價。公司的基礎盤在於住宅物管規模上看處於行業領先位置,項目主要分佈在一二線城市,受益於較優的綜合服務能力,樓盤物管費也處於較高水平。基礎盤爲公司提供了穩定和天然的用戶流量池。隨着內生+外拓規模平穩擴張,該分部收入也有望保持穩步增長。公司及早進入商企服務領域,寫字樓市場龍頭優勢顯著,與戴德樑行強強聯合,旗下萬物樑行建立起較強的品牌力。而城市服務空間業務目前正處於高速增長階段,AIoT和BPaaS解決方案建立數字化護城河的同時,也正在加速商業化變現。

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