Ping An Caizhi "Sponsor + Direct Investment" to help Mulinsen sprint IPO

[High-tech LED News] Mulinsen Co., Ltd. will sprint IPO on July 27th. On the 27th, Ping An Securities will once again adopt the "sponsor + direct investment" model to acquire shares in Mulinsen.

Mulinsen Company is mainly engaged in the R&D, production and sales of LED packaging and application products. It is a major supplier of LED packaging and application products in China. The proposed release of 43.845 million shares is mainly used for technical transformation of Lamp LED products and SMD LED products. 4 projects including technical transformation.

According to the disclosure of the application, Mulinsen was formerly known as Zhongshan Mulinsen Electronics Co., Ltd., which was jointly established by Sun Qinghuan and Zhongshan Huabei Electromechanical Valve Co., Ltd. in March 1997. After 5 equity transfer and 6 capital increase, in 2010 The overall change was implemented in August.

The latest capital increase of Mu Linsen was in September 2010. The registered capital of the company increased from 120 million yuan to 130 million yuan. The capital increase has introduced five investment institutions including Tianjin Anxing and Ping An Caizhi. Among them, Ping An Caizhi recognizes it in cash. The newly added registered capital was 1,131,500 yuan, and the capital increase price was 9.15 yuan per share. According to the 2010 earnings per share of 0.85 yuan, the dynamic price-earnings ratio at the time of the capital increase was 10.76 times.

For the business model of “sponsor + direct investment”, Ping An Securities is easy to operate. However, because the mode of first sponsorship and direct investment has been banned by the new direct investment regulations of the China Securities Regulatory Commission on July 8, and since the second half of 2010, the sponsors have become more and more fierce for IPO projects. + Direct investment is a combination of both. Therefore, it is expected that the number of "sponsor + direct investment" will be less and less.


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