Yushu Technology began taking subscriptions for its STAR Market IPO on Aug. 10, priced at 150.80 yuan per share, with a listing valuation of about 60.99 billion yuan and expected proceeds of 6.1 billion yuan. The online tranche, code 787836, covers 6.471 million shares, with an estimated allotment rate of 0.02%-0.03%. Allotment results are scheduled for Aug. 12, with payment required the same day. Yang Chao from China Galaxy Securities warned of high-valuation risks and urged investors to pay on time to avoid subscription penalties.
Yushu Technology began taking subscriptions for its STAR Market IPO on Aug. 10, pricing the offering at 150.80 yuan per share. The listing values the company at roughly 60.99 billion yuan, with expected proceeds of 6.1 billion yuan.
The online tranche uses subscription code 787836 and consists of 6.471 million shares. The estimated allotment rate is 0.02%-0.03%. Investors who receive allocations will see their results on Aug. 12 and must pay for the shares the same day. Anyone who wins allocations three times within 12 months but fails to pay in full will be barred from subscribing to new stocks and bonds for six months.
Yang Chao, chief strategy analyst at China Galaxy Securities, said the subscription has a high capital threshold and a low allotment rate, while STAR Market shares could see sharp swings in the early period after listing. He advised investors to fully assess the risks that come with the high valuation, and to make full payment on time if allocated, so as not to trigger the subscription penalty.
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