Bruker opened with an increase of 81.6% upon listing, receiving a subscription of 6,000 times: the frozen capital scale is second only to Ant Group and Kuaishou
This IPO issued 27,738,300 shares, with a final price of HKD 60.35 per share, giving it a market value of HKD 14.573 billion. Bruker was established in 2014 and is the largest building block character toy company in China and the third largest in the world, with a GMV of approximately 1.8 billion yuan in 2023, a year-on-year increase of over 170%
The "Chinese building block brand" Bruker was listed on the Hong Kong Stock Exchange today, opening with an increase of 81.6%.
Bruker (00325) announced the results of its IPO, pricing at HKD 60.35, with total proceeds of HKD 1.674 billion and a net amount of approximately HKD 1.557 billion. Each lot consists of 300 shares, with a winning rate of 10%, requiring a maximum subscription (i.e., 4,020 lots) to secure one lot.
Bruker received 5,999.96 times subscription for the public offering portion in Hong Kong, ranking third in the history of Hong Kong IPOs; the international offering portion received 38.6 times subscription and introduced three cornerstone investors: Jinglin Investment, UBS, and Wells Fargo, with a total subscription of USD 50 million.
In terms of frozen capital, the scale of Bruker's IPO issuance is second only to Ant Group in 2020 (which ultimately did not complete the issuance) and Kuaishou in 2021, also ranking third in the history of Hong Kong IPOs.
Given the explosive demand for subscriptions, Bruker ultimately completed its IPO pricing at the top of the offering range at HKD 60.35 per share, with an IPO market capitalization of HKD 14.573 billion. In today's gray market, Bruker closed up over 73%.
In terms of financial data, from 2021 to 2023, Bruker's revenue was HKD 330 million, HKD 326 million, and HKD 877 million, with a compound annual growth rate of 63.0%; gross profit was HKD 123 million, HKD 123 million, and HKD 415 million, with a compound annual growth rate of 83.4%; gross profit margins were 37.4%, 37.9%, and 47.3%, respectively.
In the first half of 2024, Bruker's revenue increased by 237.6% from HKD 310 million in the same period of 2023 to HKD 1.046 billion; gross profit increased by 306.5% from HKD 136 million in the same period of 2023 to HKD 554 million, with gross profit margin further increasing to 52.9%. Additionally, Bruker's adjusted net profit for the first half of 2024 was HKD 292 million