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Metersbonwe IPO

2008/8/29 11:25:00 23

Shanghai Metersbonwe apparel Limited by Share Ltd was officially listed on the Shenzhen stock exchange in August 28th.

Smith Barney shares opened 30 yuan on the day, up 51.82%, the highest to 31.50 yuan, to close at 26.9 yuan, 36.13% higher than the issue price 19.76 yuan.

It also made the chairman Zhou Chengjian and father and daughter worth 16 billion 140 million yuan and became the new richest in the mainland garment industry.

A total of 11 brokerages predicted the listing price of Smith Barney shares. The average forecast price was 31.36 yuan, of which Ping An Securities gave a lower forecast limit of 24.31 yuan, Haitong Securities gave a 38.40 yuan forecast ceiling, and the performance of the first day of the US bond listing basically met market expectations.

Smith Barney shares started listing in November last year, and listed underwriters are UBS Securities.

Originally designed for A+H in Hongkong and the mainland market, it plans to raise $500 million.

But because of the sudden market change, the United States shares once postponed the listing plan, and gave up the Hongkong market to fight A shares.

In the initial public offering in early August this year, the size of the financing of the United States shares fell to 1 billion 800 million yuan, priced at around 25 yuan.

But on the eve of the issue, the final price was changed to 19.6 yuan, and 70 million shares were issued online and offline, and the financing was reduced to 1 billion 400 million yuan.

Zhou Chengjian, chairman of the US bond group, said in a press conference after the launch in August 28th, "when to go public is based on the development of the enterprise. It is not based on the capital market. The value of the stock is determined by the market. Our duty is to do well in the enterprise".

According to the results of the financial report, in 2007, the US bond sales reached 3 billion 157 million yuan, with a total profit of 433 million yuan and a gross margin of 38.84%, which was higher than the average level of 34.39% of the apparel industry listed companies.

The market share of Mei Bang shares reached 0.95%, ranking first among the 12 major casual wear enterprises in China.

Generally speaking, the market share of garment enterprises is hard to reach 1%.

However, as a garment enterprise, the financing channel of Smith bond before listing is relatively simple, only relying on bank credit and expanding capital.

Financial reports show that short-term loans have surged since 2006.

By March 2008, the short term loan of Smith Barney reached 550 million.

However, analysts in the industry believe that the existing bank deposits of the US state bank are 470 million yuan and the liquidity is about 1 billion 300 million yuan. We can see that the US bond stock is not short of money, and its listing and financing are mainly to meet the expansion needs.

According to its plan, the 1 billion 400 million yuan of its listing and financing will mainly be used to build 68 flagship stores and image shops with more than 1400 square meters.

Among them, 31 are flagship stores and direct store image stores, 37 are flagship stores and strategic franchise stores.

The United States shares have been implementing the "virtual management" mode, which will soon be outsourcing, while sales will mainly depend on franchisees.

There were 2211 franchises and direct stores in the United States, and 1927 of them were their main sales models.

However, foreign clothing companies such as ZARA, which are imitated by Smith Barney, generally take direct outlets as the main selling mode.

Zhou Chengjian said after the expansion of the retail outlets after the financing, "when the United States shares are the richest, the market is the most scarce capital, and now the expansion of stores is an opportunity."

At the same time, Smith Barney shares issued a new brand - "me&city".

The brand will invite jailbreak hero Miller as spokesperson.

Zhou Chengjian said that the brand may enter the overseas market.

But at present, the brand will share a store with Smith Barney shares.

Zhou Chengjian predicts that the composite growth rate of "me&city" brand will be around 30%.