Erkang Pharmaceutical Listed in ChiNext Board
Hunan Erkang Pharmaceutical Co., Ltd. (Erkang Pharmaceutical, stock code:300267) was formally listed for exchange in Shenzhen Stock Exchange on September 27th.
According to the prospectus, the company will issue 46,000,000 in the IPO, accounting for 25% of the total shares after the IPO, and the total shares after IPO are184,000,000. After the IPO, JP Capital will hold 4,004,984 shares, accounting for 2.18%.
The IPO price is 17.97 yuan/share, corresponding to a P/E ratio of 49.92.
Erkang Pharmaceutical is one of the professional pharmaceutical excipient manufacturers having the amplest types and the largest scales in China. Since its founding, the company has always been focusing on R&D, manufacture and sales of pharmaceutical products, and its main business consists of pharmaceutical excipients and new antibiotic products. This company is one of the few enterprises that have registration approval forms of raw medicine and product medicine for new type penicillinase antibiotic: sulbenicillin sodium, which has a market share of 30% in 2010. The revenue in 2010 was 363 million yuan, with a net profit of 67.11 million yuan.
The proceeds from the IPO will be used for 4 projects including production expansion of the pharmaceutical excipient and antibiotic raw medicine, etc..