Zhejiang Meishuo Electric Technology's IPO to debut on SZSE ChiNext Market, 2,804 times oversubscribed.
Jun 27, 2023 (China Knowledge) - Zhejiang Meishuo Electric Technology (301295) to start trading on the Shenzhen ChiNext Market tomorrow Jun 28. The firm has issued 18 mln shares priced at RMB 37.4 per share, raising RMB 673.2 mln (USD 93.5 mln). Its price-to-earnings ratio (PE) stands at 47.61. During subscription, the IPO was 2,804 times oversubscribed.
Caitong Securities acts as the lead underwriter and sponsor for the IPO.
Zhejiang Meishuo Electric Technology is a manufacturer of relays and industrial control devices. The company offers electromagnetic relays, latching relays, power relays, general-purpose relays, valves, electrical components.
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