Guangdong Mingyang Electric's IPO to debut on Shenzhen Stock Exchange, 1,826 times oversubscribed.
Jun 29, 2023 (China Knowledge) - Guangdong Mingyang Electric (301291) to start trading on the Shenzhen ChiNext Market tomorrow Jun 30. The firm has issued 78.1 mln shares priced at RMB 38.13 per share, raising RMB 3 bln (USD 420 mln). Its price-to-earnings ratio (PE) stands at 46.36. During subscription, the IPO was 1,826 times oversubscribed.
Shenwan Hongyuan Securities acts as the lead underwriter and sponsor for the IPO.
Guangdong Mingyang Electric is a power and communication line construction company. The company is mainly engaged in the R&D, production, and sales of power transmission and distribution and control equipment in new energy, new infrastructure, and other fields. Its main products include box-type...
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