Ruipu Lanjun (00666.HK), a lithium battery manufacturer owned by Aoyama Group, is offering shares from today (December 8) until next Wednesday (December 13). It is expected to be listed on the Hong Kong Stock Exchange on December 18, with the co-sponsorship of Morgan Stanley and CITIC Securities.
Ruipu Lanjun plans to sell 1116.70.2 million H shares globally. Of these, 90% will be international sales, 10% will be public sales, and there will be no over-allotment rights. The offering price of each share ranged from HK$18.20 to HK$20.60, with 200 shares per lot, raising a maximum of approximately HK$2,391 billion.
Assuming an offering price of HK$19.40 per share (median of the prospectus price range), Ruipu Lanjun expects total listing expenses of approximately HK$133 million, including 1.75% of underwriting commissions, 0.75% discretionary bonuses, Stock Exchange listing fees, SEC transaction fees, SEHK trading fees, financial and other professional fees, legal and other professional fees, printing and other expenses.
Ruipu Lanjun did not bring in a cornerstone investor in this IPO.
Ruipu Lanjun raised a net amount of about HK$2.119 billion (based on the median sale price) in this IPO: about 80% will be used to expand the production capacity of the company's power and energy storage battery products, including some expenses for the construction of the Wenzhou Phase III Plant, Foshan Plant Phase I, and Chongqing Plant; about 10% will be used for core technology research and development for advanced lithium-ion batteries, advanced materials, and optimized production processes; about 10% will be used for working capital and other general corporate purposes.
Ruipu Lanjun is the IPO. Morgan Stanley and CITIC Leon are its overall coordinators and joint global coordinators. Other underwriters include HSBC, China Galaxy International, DBS Asia, CICBC, Guotai Junan, CMB International, China Bank International, Agricultural Bank International, Tiger Securities, Futu Securities, and Huasheng Capital.
According to the prospectus, in Ruipu Lanjun's shareholder structure after listing, Mr. Xiang Guangda finally controlled 57.5% of the shares in Qingshan Group, which held 47.8% of the shares through Yongqing Technology. Yongqing Technology also held 11.6% of the shares through the employee-owned platform Wenzhou Jingli (whose general partner is Ruitu Energy, a wholly-owned subsidiary of Yongqing Technology), holding 11.6% of the shares, and has a total interest of about 59.4% of the above. Employee stock holding platform Wenzhou Ruili, holding 4.2%; controlling shareholder and its affiliates' employee holding platform Wenzhou Zhuorui, holding 1.3%; employee shareholding platform Wenzhou Qingsha, holding 1.1%; SAIC Motor Group (600104.SH) owns 99.63% of Qingdao SAIC Motor, directly holding 2.47%, holding 8.25% through Jiaxing SAIC Motor, which has 49.95% of shares; Yangyuan Drinks (603156.SH) is famous for holding 99.9% of shares, holding 2.50% of shares; Tianjin Haihe (IDG Entity Capital) ), holding 0.94% of shares; Ping An of China (601318.SH, 02318.HK), holding 0.94% through Ping An Investment; Zhongwei shares (300919.SZ), holding 0.94%; Foshan Fund, holding 0.94%; Houpu Oriental, holding 0.91%; Wenzhou Chengyuan, holding 0.81%; Wenzhou Chengyuan, holding 0.81%; Wenzhou Transportation, holding 0.75%; Longwan Financial Holdings, holding 0.62%; Wenzhou Gongchuang, holding 0.62%; Chuangyi Shengtun, holding 0.62%; Jiaxing Yu Zhi, holding 0.58% of the shares; Guangdong Guangxin Private Equity, holding 0.53%; Wenzhou Zhenxu, holding 0.49%; Shenzhen Venture Capital, holding 0.47%; Suzhou Lianchuang, holding 0.44%; 3W Global I, holding 0.44%; CITIC Investment, holding 0.31%; Guangdong Jiarui, holding 0.31%; Xugong Machinery (000425.HK), holding 0.31% through XCMG One Fund; Jiaxing Rongpu, holding 0.31%; Silicon Valley Paradise Group (833044.OC), holding 0.31% of shares through Wuhan Yunshang; Jiaxing Hao, holding 0.31% of shares ; Zibo Junci, holding 0.31%; Mr. Zhang Xiangkang, holding 0.31%; Huzhou United, holding 0.28%; Qingdao Silicon Valley Paradise, holding 0.25%; Lishui Xianshi, holding 0.25%; Yin'an Fund controlled by Sinochem International (600500.SH), holding 0.22%; Xiamen Fu Xinrui, holding 0.17%; Hangzhou Longqi, holding 0.17%; Guangdong Guangxin Equity Investment, holding 0.14%; Zhejiang University Education Foundation, holding 0.06% of shares. Other public shareholders hold 5.1% of the shares.
Ruipu Lanjun, from Wenzhou, Zhejiang, was founded in 2017. As a lithium-ion battery manufacturer, it mainly focuses on R&D, production and sales of power and energy storage lithium-ion battery products. According to Frost & Sullivan's report, in 2022 and the first half of 2023, according to the annual installed volume of lithium-ion batteries (including power batteries and energy storage batteries) for new energy applications, it ranked tenth among global manufacturers and sixth among Chinese manufacturers; according to the installed volume of power batteries in China, it was the tenth largest lithium-ion battery manufacturer in the world; in terms of the installed volume of power batteries in China, it was the third largest and fourth largest lithium-ion battery manufacturer in the world in the first half of 2022 and 2023, respectively. According to the Frost & Sullivan report, in terms of lithium-ion battery installed volume, the exponential growth from 2020 to 2022 made Ruipu Lanjun one of the top ten lithium-ion battery manufacturers in China during the same period.
Ruipu Lanjun's prospectus link:
