Sobute Completes Its A-share IPO, CICC Acts as Sole Sponsor and Sole Lead Underwriter

Sobute New Materials Co., Ltd (“Sobute” or the “Company”, stock code: 603916) was successfully listed on the Main Board of Shanghai Stock Exchange on Nov. 10, 2017. The total number of shares offered was 76.00 million shares, accounting for 25.00% of the total equity post offering; the offering price was RMB 9.02 per share, representing 2016 P/E ratio of 22.98x; and the net proceeds was RMB 629 MM. CICC acted as Sole Sponsor and Sole Lead Underwriter.

Founded in 2004, Sobute is a leading supplier of new civil engineering materials. Through years of development, the Company has grown into the leader enterprise of concrete admixture sector in China. Among the top 10 concrete admixture enterprises and the top 10 polycarboxylate water reducers enterprises rated by, Sobute both ranked the first for three consecutive years from 2014 to 2016.

This is an IPO transaction on the Main Board with the largest issuance size in Jiangsu Province in 2017 for chemical industry. With in-depth understanding of the chemical industry and building industry as well as the client, CICC was forward-looking to capture the capital market focus and fully explore the investment highlights and industrial opportunities. As Sole Sponsor and Lead Underwriter, CICC’s professional execution and efficient regulatory coordination was highly recognized by the client.