Reporter: Qi Jinjun
Confirmed! The highly anticipated A-share super unicorn, Foxconn, finalized the total fund-raising amount of 27.1 billion yuan. The largest IPO of A-shares in three years finally surfaced. Don't miss the online subscription (new) on May 24th (Thursday)!
Much anticipated Foxconn Industrial Internet late at night on May 22 The company limited by shares (hereinafter referred to as “Foxconn”) issued a prospectus, issued approximately 1.97 billion shares at a price of 13.77 yuan/share, and raised a total amount of approximately 27.1 billion yuan, setting a record for A-share IPOs in recent years.
Oversized IPO Scale, Super Unicorn Concept, Industrial Internet Giant Ships... What are the highlights of Foxconn’s IPO release that should not be missed? Let's take a look with Zhongzhen Jun!
Before Foxconn “plays new”, there are five highlights that should not be missed:
1. Foxconn’s proposed fundraising amounted to RMB 27.1 billion, setting a new share offering since nearly three years ago. recording.
2. The "Strategic Stocks" issued under the "Strategic Distribution" line will reduce the impact of large-scale financing on the market.
3. Only one daily limit is needed to rank among the top A-share technology stocks.
4. On May 24th, investors can participate in online subscriptions and “play new”. If there are 7 daily limit boards, the revenue per contract can be broken by 20,000 yuan.
5. In addition to Foxconn, there are more than a dozen Foxconn concept stocks whose A shares are worthy of attention.
What to Watch: A total of RMB 27.1 billion is the highest in three years.
After the preliminary enquiries on May 17 and May 18, the issue price of Foxconn finally ended on May 22. The late night unveiled mystery. Investors participating in online purchases can make purchases on May 24th.
The number of IPO shares issued by Foxconn is approximately 1.97 billion shares at a price of 13.77 yuan per share. Based on this calculation, the Foxconn fund-raising amounted to approximately RMB 27.1 billion. Excluding this issuance fee, the net proceeds raised were 26.7 billionyuan.
From the historical IPO offering of A-shares, Foxconn’s IPO fundraising will rank 12th and become the largest IPO in the past three years. It is noteworthy that prior to Foxconn, both the Wuxi and Wuning eras of the Unicorn enterprises had experienced various degrees of “shrinkage” during the IPO fundraising process. The final proposed amount of Foxconn is basically the same as the total amount of investment projects previously listed in the IPO report.
A list of the top 15 A-share historical IPO fundraising
Two Aspects: The market value of initial public offerings is about 10 billion yuan.
The new stock issuance of Foxconn uses a combination of strategic allotment, offline distribution, and online distribution. Under the premise of triggering a callback mechanism, the proportion of initial strategic placement shares is 30%, and the ratio of offline issuance and online issuance of new shares is 7:3. Except for the newly issued shares on the Internet, there are no restricted sales periods, and all strategic allotment shares and 70% of shares issued under the Internet are restricted shares.
For historical IPO cases, when issuing large-cap stocks, especially super-large-cap stocks, strategic placement is a routine design, and the 30% ratio is not abrupt. However, the non-locked shares issued under the offline issuance part of the company is directly proportional to the non-locking part and the locked part. This design is the first case since the adoption of the inquiry system in the IPO market in China.
According to the initial strategic placement and offline placement mechanism, it is expected that the number of locked-in shares will account for approximately 64%, that is, the ratio of circulation to initial listing will be around 36%. If you simply calculate the amount of capital raised by 27.1 billion yuan, the market value of the initial public offering will be about 10 billion yuan.
In the industry, after the "strategic allocation + large-scale lock-in", the scale of Foxconn's initial circulation has been effectively controlled, which will effectively reduce the number of large-scale start-ups when the amount of funds raised is adequately secured. The impact of listing on the secondary market.
Three Aspects: Only one daily limit is needed to become the first A share technology company.
At present, in the A share market, the highest market value technology stock is Hikvision. The current market value is about 380 billion yuan. However, with the landing of "Industrial Internet giant" Foxconn, the position of a tech stock will be replaced by Foxconn.
According to the release scale announced by the Foxconn prospectus, the total market value of Foxconn's initial public offering is approximately 271 billion yuan. As long as a 44% daily limit board is harvested on the first day, the market value will be enough to surpass Hikvision and become a worthy A share. The first stock of technology.
If you look at Hikvision's current price-earnings ratio of 39 times, if Foxconn's post-listed price-earnings ratio is the same, then its total market value may exceed 600 billion yuan.
Spot 4: Significant gains from each one in the first signoff
According to Foxconn’s subscription price, participating in new investors can be maximized without taking into account the triggered callback mechanism. Top Grid subscribed for one thousandth of the initial online offering of new shares, and an integral multiple of 1,000 shares, or 413,000 shares. The new player had to hold a total market capitalization of 4.13 million yuan or more in Shanghai stock market for the first 20 trading days.
For ordinary investors who do not have as many stocks in their hands, there is no need to be frustrated. According to the current issue price of Foxconn, even if only the first one is signed, the return is considerable and worth looking forward to.
This issue price of 13.77 yuan per share issued by Foxconn, if calculated according to the regular 7-day daily limit in the past year, every one-signature, the proceeds exceed 20,000 yuan;
If According to the current WuXi Pharmac's 11 daily limit calculations, the yield is RMB 37,700 per trip.
If you follow the over-optimistic forecast of 3,660,18 daily limit of last year, you can break through 8.65 for each one. Ten thousand yuan.
Five Aspects: These Foxconn concept stocks are also worth noting.
As the "industrial Internet giant", there are many companies involved in the Foxconn industry chain, and there are also Foxconn concept leaders in A shares. . For investors, if the "new" bad luck, the Foxconn concept stocks may be concerned about the gains.
According to statistics of Huatai Securities, if the company has a smooth IPO, upstream companies are expected to benefit. The concept stocks include Ancai Hi-tech, Jing-Quan Hua, Guang Yun Da, Fen Da Technology, Yuhuan CNC, Shenghong Technology, Jituo, Xinya Process, Huadong Technology, Water Resources, Guangxin Materials, Jinlong Mechatronics Electromechanical, Powerway alloys, Tony Electronics, East Sunshine Division, Sunlord Electronics, and Yunhai Metals. Except for Ancai High-tech, Foxconn’s shareholding companies, all other companies are suppliers or service providers.
A share of some Foxconn stocks
Can Foxconn harvest a few daily limit?
> After watching the above five big things, I believe many young buddies are already impatient to prepare for a new one.But before you do anything, before you hit the new one, let's start with bold speculation. p>
"Advanced Manufacturing + Unicorn + Super Market Cap" for Foxconn In a word, under multiple halo blessings, several daily limit boards can be harvested after listing, becoming the biggest suspense of the moment.
From February to March this year, the market has successively appeared in the Yangyuan Drinks, Jinchuang Group, and China. Since the listing of three new shares of Bao, the company only gained a “single board” after the listing. At that time, many investors called such new shares “false new shares.” As of the close of May 21, among the three new shares, there were 1 Only in the broken state.
In fact, in recent years, with the advancement of normalization of IPO, the number of coupons after the IPO market began to decrease.According to statistics, the average number of new stocks listed in 2015 The number is about 12, which was about 13 in 2016. By 2017, this number has dropped sharply to 9.4.
According to statistics, the new shares listed in January-February this year, After the listing, the average number of coupons fell further to about 6; by early March, this figure had fallen to the bottom, with 5 new stocks listed during the period, and the average number of coupons after listing was only 3.2.< However, as the pace of new stocks has slowed down afterwards, the number of new shares has bottomed out. The recent market recovery has seen the number of daily limiters for new listings increase.
The first listing this year "Unicorn" company WuXi Kangde, for example, has now harvested 11 daily limit boards for WuXi PharmaTech, and it is still not open. In addition, Foxconn's scarcity as a super unicorn, whether the market can give a higher premium is still full of suspense. And expectation.
Foxconn's new revenue calculation table
Tip: The content of this form is for reference only and does not constitute investment advice.
Lastly reminded, the successful partner must not forget to pay!>
How can investors avoid the failure of the subscription after winning the agreement? Zhongjunjun reminds you:
First, update your contact information in a timely manner and keep your mobile phone unblocked. Telephone notice.
Second, the balance in the securities account should be sufficient for deductions.
Third, download the brokerage APP. Most brokerage firms will have new shares or can be transferred by logging in to the APP page. Debt notification reminder push.