03288 海天味業
HAITIAN FLAV
HAITIAN FLAV
| Register Close | 2025/06/16 IPO Closing in 2 Days |
| Listing Date | 2025/06/19 |
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IPO Detail
COMPANY PROFILE
Foshan Haitian Flavouring and Food Company is China’s leading condiments company with long-standing heritage. The Group is dedicated to providing quality condiment products serving the seasoning needs for home cooking and dining experiences. The Group’s main product categories named “Haday” include soy sauce, oyster sauce, flavored sauce, specialty condiment products and others. As of December 31, 2024, the Group’s comprehensive product portfolio encompassed multiple product series with over 1,450 SKUs.
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The Group is ranking first in China’s condiments market in terms of revenue in 2024, and its market share thereof was 4.8%, according to Frost & Sullivan. The Group ranked fifth in the global condiments market in terms of revenue in 2024, and its market share thereof was of 1.1% in the same year. The Group have stood as the largest condiment company in China for 28 consecutive years in terms of sales volume. The Group’s soy sauce and oyster sauce products consistently hold the number one positions, while its flavored sauce, vinegar, and cooking wine products achieved leading market positions in China.
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The Group operated four key production bases in China: Guangdong Gaoming Production Base, Jiangsu Suqian Production Base, Guangxi Nanning Production Base and Hubei Wuhan Production Base. The Group’s customers are mainly distributors, who purchase and distribute its products, and end-customers, including catering businesses, food processing enterprises, corporate welfare programs and consumers via self-operated stores on e-commerce platforms.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Food & Beverages |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 263.24M H shares |
| No. of International Offer Shares | 247.44M H shares |
| No. of HK Offer Shares | 15.79M H shares |
| Offer Price | $35 - $36.3 |
| Stock Code | 3288 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited, BOCI Asia Limited, ICBC International Securities Limited, BOCOM International Securities Limited, CMB International Capital Limited, ABCI Securities Company Limited, CCB International Capital Limited, The Hongkong and Shanghai Banking Corporation Limited, Huatai Financial Holdings (Hong Kong) Limited, CLSA Limited, Futu Securities International (Hong Kong) Limited, GF Securities (Hong Kong) Brokerage Limited, China Galaxy International Securities (Hong Kong) Co., Limited |
TIME TABLE
| Application Period | Jun 11 (Wed) - noon, Jun 16 (Mon) |
| Price Determination Date | Jun 17 (Tue) |
| Result Announcement Date | On or before Jun 18 (Wed) |
| Result Announcement Date | On or before Jun 18 (Wed) |
| Result Announcement Date | On or before Jun 19 (Thu) |
| Dealings in Shares commence on | Jun 19, 2025. (Thu) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 10X - 30X | 30X - 60X | Over 60X |
| % of total shares reallocated to HK Offer | 10% | 15% | 21% |
Sales Statistics (HKD)
| Offer Price | $35 - $36.3 |
| Capitalization | 278.70B - 279.04B |
| NAV / share ($) | $7.35 - $7.4 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 35.65, the net proceeds raised would be HKD 9.27B, of which |
| 20% : Product development, R&D of cutting-edge technologies and process upgrades |
| 30% : Expansion of production capacity, adoption of new technologies and digitization upgrades of supply chain |
| 20% : Establishing global brand image, expanding sales channels and enhancing overseas supply chain capabilities |
| 20% : Strengthening sales network |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).