06911 瀾滄古茶
LANCANG TEA
LANCANG TEA
| Listing Date | 2023/12/22 |
| Listing Price | 10.700 |
Quote
Subscription Result
- Subscription Rate13.23x
- Guarantee One Lot Size10 lot
- One Lot Success Rate20.01%
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IPO Detail
COMPANY PROFILE
Pu’er Lancang Ancient Tea Co. is among the very few tea companies in China experienced in raw material management, product development, production, end customer reach and membership services. It is the third largest Pu’er tea company in China in terms of revenue generated from Pu’er tea products with a market share of 2.4% in 2022.
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The Group have established Lan Cang Gu Cha as core brand, under which have developed and structured two product lines, i.e., 1966 and Tea Mama, and launched a new product line, Iland Tea , in July 2022, to meet the various demands from different groups of consumers.
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The Group have a nationwide offline sales network, covering substantially all provincial administrative divisions across China. As of 5 December 2023, it had 559 offline stores, among which 23 were self-operated stores and 536 were distributor-operated stores. The Group engages distributors to distribute it products. In addition, it also sells directly to consumers through it self-operated stores. Since 2020, The Group have also expanded sales network into key account channels including hypermarket chains and platform-operated online stores.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Food & Beverages |
| Major Business Area | China |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 21.00M H shares |
| No. of International Offer Shares | 18.90M H shares |
| No. of HK Offer Shares | 2.10M H shares |
| Offer Price | $10.40 - $14.16 |
| Stock Code | 6911 |
| Sponsor(s) | China Securities (International) Corporate Finance Company Limited, China Merchants Securities (HK) Co., Limited |
| Underwriter(s) | China Securities (International) Corporate Finance Company Limited, China Merchants Securities (HK) Co., Limited, CMB International Capital Limited, ABCI Securities Company Limited, Haitong International Securities Company Limited, Zhongtai International Securities Limited, Livermore Holdings Limited, Eddid Securities and Futures Limited, ICBC International Securities Limited, Valuable Capital Limited, Futu Securities International (Hong Kong) Limited, Shenwan Hongyuan Securities (H.K.) Limited |
TIME TABLE
| Application Period | Dec 14 (Thu) - noon, Dec 19 (Tue) |
| Price Determination Date | Dec 20 (Wed) |
| Result Announcement Date | On or before Dec 21 (Thu) |
| Result Announcement Date | On or before Dec 21 (Thu) |
| Result Announcement Date | On or before Dec 22 (Fri) |
| Dealings in Shares commence on | Dec 22, 2023. (Fri) |
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 | $10.40 - $14.16 |
| Capitalization | 873.60M - 1.19B |
| NAV / share ($) | $12.37 - $13.27 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 12.28, the net proceeds raised would be HKD 185.90M, of which |
| 35% : Building modernized logistics and warehousing centers and new production facilities and upgrading current production facilities |
| 27% : Sales channel building |
| 18% : Brand building and product marketing |
| 5% : Strategic investments in and acquisitions of business opportunities in the tea industry |
| 5% : Upgrading information technology infrastructure and further strengthening research and development capabilities |
| 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).