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According to Hong Kong media reports, Wei Zhi, a LED manufacturer with the mainland as its main market, plans to raise up to 185 million yuan (HK$, the same below), with an offer price of between 3 and 3.7 yuan, a total of 50 million shares, and nine become international placements. , 10% public offering, from yesterday (4) to the next Monday (10th) offer.
Due to the small amount of funds collected by Weizhi, the information on the four brokerages was combined. On the first day, the total amount of the loan was about 718 million yuan, and the public offering raised 18.5 million yuan. The oversubscription was over 37 times.
Wei Zhi Chief Executive Officer Chen Zhongpu said that the in-funds ratio is below 50%, but as of the end of June this year, the Group's debt ratio was 75.1%. It is expected that after the listing, it will be able to coordinate with accounts, accounts and accounts payable with banks, customers and suppliers. Together with raising funds, the ratio can be reduced to a reasonable level. He also mentioned that its small-size LED backlight products have a gross margin of about 21% and a large-size gross margin of about 35%. In the future, the Group will reduce its dependence on small-size LED backlight products and increase the proportion of large-size products to increase the overall gross profit margin.
The Group expects that 45% of the net proceeds will be used for the purchase of machinery and equipment to improve production capacity and increase production, and 15% will be used to repay bank loans previously used to purchase equipment and equipment, which will expire between 2017 and 2019. In addition, 10% each is used to enhance the research and development capabilities of its LED backlight and LED lighting businesses.
Due to the small amount of funds collected by Weizhi, the information on the four brokerages was combined. On the first day, the total amount of the loan was about 718 million yuan, and the public offering raised 18.5 million yuan. The oversubscription was over 37 times.
Wei Zhi Chief Executive Officer Chen Zhongpu said that the in-funds ratio is below 50%, but as of the end of June this year, the Group's debt ratio was 75.1%. It is expected that after the listing, it will be able to coordinate with accounts, accounts and accounts payable with banks, customers and suppliers. Together with raising funds, the ratio can be reduced to a reasonable level. He also mentioned that its small-size LED backlight products have a gross margin of about 21% and a large-size gross margin of about 35%. In the future, the Group will reduce its dependence on small-size LED backlight products and increase the proportion of large-size products to increase the overall gross profit margin.
The Group expects that 45% of the net proceeds will be used for the purchase of machinery and equipment to improve production capacity and increase production, and 15% will be used to repay bank loans previously used to purchase equipment and equipment, which will expire between 2017 and 2019. In addition, 10% each is used to enhance the research and development capabilities of its LED backlight and LED lighting businesses.
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