Author: Gao Xing
On the first day of U.S. IPO, utme had an intraday rise of more than 1000%, which was close to the biggest first day rise of U.S. IPO since 1999. Among them, utme experienced at least nine circuit breakers due to its rapid rise, and finally closed up with an increase of 875%.
Utme, a low-cost mobile phone and accessories manufacturer, had an intraday high of $46 on the first day of its IPO in the United States, which soared 1050% compared with the issue price of $4. If it closed with such an increase, it would be the largest IPO first day increase of $10 million or more raised by the U.S. stock market since 1999. In July 1999, Internet service provider freeserve PLC. Rose 1261% on its first day of IPO.
In the end, the shares of Liandai technology closed at US $39 in normal trading hours, up 875% from the issue price, and suffered at least nine circuit breakers due to the rapid rise during the day.
According to the F-1 / a form disclosed by Liandai technology on the official website of the US SEC, the scale of this IPO is 3.75 million shares, and the raised capital is US $15 million. Before the IPO of Liandai technology, there have been seven communications IPOs in the US market in the past 12 months, the latest one is the impression of Qinhuai (now known as Qinhuai data) on September 30, 2020, which once rose more than 10% on the first day of listing 22% hit $17.07, a record high of $27.47 on February 26.
According to the public information, the main business of Liandai technology is to provide product customization services to brands and telecom operators, and the geographical scope of related services includes the United States, India, Brazil, South Asia, Africa and Europe, etc. at the same time, it has subsidiaries in India and other regions.
In terms of finance, according to the F-1 / a form disclosed by Liandai technology in the US SEC, in the three financial years from 2017 to 2019 (the deadline of the financial year is March 31) and the first six months of 2019 (the deadline is September 30), the company's net sales revenue is RMB 738 million, 377 million, 238 million and 91 million respectively, and the corresponding net profits are RMB 3.344 million and - 181.38 million respectively RMB 10000, - 10.895 million and - 9.791 million.
In terms of the shareholding of major shareholders, according to the F-1 / a table, in the pre IPO shareholder structure of Liandai technology, the controlling shareholder Bao minfei holds 96.95%, and the other shareholder He Min holds 3.05%. After the issuance, Bao minfei's shareholding ratio will be diluted to 52.98%, while He Min's latest shareholding ratio is 1.67%.