Text | Dig Bei Wang Chi silent reading
According to data from the Kubei Research Institute, since December 2022, the average price-earnings ratio of 29 new shares issued on the Beijing Stock Exchange has been 18.3 times, which is on par with the average PE of more than 160 listed companies on the Beijing Stock Exchange. CommScope Chemical has the highest issue price-earnings ratio of 27.11 times, and the lowest is only 7.99 times, which is Air China Ocean.
Among the 29 companies, 12 companies have lowered the reserve price of issuance, accounting for 40%. Before the six companies adjusted their reserve prices, their price-to-earnings ratios were all over 25 times.
The average price-earnings ratio of 29 IPOs is 18.3 times
Equivalent to the average PE of the Beijing Stock Exchange in December last year
Since December last year, 29 new shares have been purchased by the Beijing Stock Exchange. Among them, 28 have completed the subscription, and one new stock will be subscribed on January 16, 2023 (next Monday), which is Baolijie .
Wabei.com sorted out the price-earnings ratios of these 29 new shares and found that the average price-earnings ratio of the 29 new shares was 18.3 times, while the average price-earnings ratio of the Beijing Stock Exchange in December 2022 was 18.87 times. The difference between the two is not big.
Among the 29 new stocks, only one has an issue price-earnings ratio of more than 25 times. It is CommScope Chemicals. The issue price is 14.77 yuan per share, and the issue price-earnings ratio is 27.11 times. R&D, production and sales of surfactants.
The lowest is Air China COSCO, with an issue price-earnings ratio of only 7.99 times. The company is engaged in the dry bulk transportation business of international ocean, domestic coastal and middle and lower reaches of the Yangtze River.
40% of companies have lowered the issue reserve price
Although the average price-earnings ratio of these 29 new shares is 18.3 times, only one issue has a price-earnings ratio of more than 25 times. However, according to the statistics of Kubei.com, 12 of the 29 new stocks, including Zhongbao Lijie, Lechuang Technology, Tianye Shares, and Tianhong Lithium Battery , have lowered their issuance base prices one or more times.
Among the 12 companies that lowered the reserve price, half of them were calculated based on the initial issue reserve price, and their issuance price-earnings ratios exceeded 25 times.
For example, Baoli Jie has adjusted the issuance base price three times, from the initial issuance price of 16 yuan/share to 13 yuan/share, then to 10.01 yuan/share, and finally to 5.79 yuan/share, the corresponding issuance price-earnings ratio It also decreased from about 29 times to about 10 times. However, the company’s final IPO price on the Beijing Stock Exchange is determined to be 7.95 yuan per share, with a price-earnings ratio of 14.28 times.
Lechuang Technology also lowered the base issue price twice, from 25 yuan per share to 18.32 yuan per share, and finally to 12.8 yuan per share. The price-earnings ratio of the issue dropped from 27.28 times at the beginning to 13.97 times now.
This article is from the WeChat public account “Wabeiwang” (ID: wabeiwang) , author: Let the letter be more timely, 36 Krypton is authorized to publish.
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related events
- The recent average price-earnings ratio of new shares issued by the Beijing Stock Exchange is 18.3 times: 40% of the companies have lowered the reserve price 2023-01-16
- The Science and Technology Innovation Board listing guide is released: new shares will be listed within 8 trading days after the end of the issuance2019-06-22
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