Gelonghui 24 May, Uber Holdings (08529Nintendoswitchcrashbandicoot.HK) issue an announcementNintendoswitchcrashbandicootThe company proposes to sell 125 million shares, 12.5 million public offering shares, 112.5 million allotment shares and 15 per cent over-allotment options; the offering will be made from May 24 to May 29, with an expected pricing date of May 30; the offering price will be HK $0.50-0.60 per offer share, with 5000 shares per lot; Yuexiu Finance is the exclusive sponsor; and the shares are expected to begin trading on GEM on June 3, 2024.
Founded in 2005, the company is engaged in precision manufacturing of engineering plastic castings.NintendoswitchcrashbandicootDuring the track record period, the company's revenue mainly comes from the sales of pallets and pallet-related products. In addition to focusing on the design, development, manufacture and sales of pallets and pallet-related products, the company has also included carriers in its product category since 2019. In addition to the rear semiconductor transmission media, the company also provides micro-electromechanical systems (MEMS) and sensor packaging. The market share of pallets and pallet-related products in the rear semiconductor transmission media industry was 31.3%, 31.8% and 31.7%, respectively, in the year ended December 31, 2021, 2022 and 2023, according to the Fallows report. Of all pallets and pallet-related products manufacturers in the later semiconductor transmission media industry, the company ranked third in the world in terms of sales revenue in 2023, with a market share of about 8.4%.
The company's rear semiconductor transmission media products, namely (I) pallets and pallet related products, mainly use precision engineering plastics as carriers for storing semiconductor components in the production and delivery process, and (ii) straps are mainly used to protect semiconductor devices, including power separation semiconductor devices, optoelectronics, IC and sensors. The company's pallets and straps on the pallet or tape surface are designed to accommodate, safely handle, transport and store different semiconductor devices, including power discrete semiconductor devices, optoelectronic devices, IC and sensors, with ESD protection and high heat resistance. The company's MEMS and sensor packages provide a housing designed to facilitate electrical contacts that transmit signals to the circuit boards of electronic devices and to protect MEMS and sensors from potential external component damage and aging. With the support of R & D and material Engineering Department and sales and marketing personnel, as well as customizable manufacturing platform and design support services, the company is able to meet customer specific requirements and simplify complex design costs and performance optimized on terms and conditions in a timely manner. During the track record period, the company has developed more than 1Nintendoswitchcrashbandicoot500 diversified product combinations of different sizes with different thermal, mechanical and physical performance indicators to meet customer specifications and required quality standards
Assuming that the offer price is HK $0.55 per offer share (i.e. the median offer price ranges from HK $0.50 to HK $0.60), and assuming that the right to adjust the sales volume has not been exercised, the Company estimates that the net proceeds from the share offer will be approximately HK $31.4 million. The company intends to use about 78.2% of the net proceeds from the share sale to increase the company's production capacity and productivity; about 6.2% will be used to strengthen the company's sales and marketing efforts in the global market (including the Chinese market); about 4.2% will be used to purchase ERP systems and upgrade information systems to support ERP systems; and about 3.1% will be used to strengthen the company's R & D and materials engineering capabilities. And the total net proceeds of about 8.3% will be used as general working capital.
