The multinational human resources service provider Jiancheng International Group Co., Ltd.(the Australian Exchange's proposed code JCI, hereinafter referred to as "Jiancheng International") successfully submitted an IPO application to ASX of the Australian Stock Exchange. The Australian road show started this week.
Adhering to the concept of "China serves the world", Jiancheng International launched the listing of the Australian Stock Exchange under the background of the establishment of the AIIB and the Chinese government's strategy of vigorously promoting enterprises to go global. It hopes to take advantage of the unprecedented strengthening of China-Australia economic and Trade Investment relations. The best way to cut into Australia and integrate with the local capital market.
According to the IPO arrangement, Jiancheng International's IPO plan raised between A$ 5 million and A$ 12 million, and the offering price was A$ 0.8 / share. Based on the maximum amount of financing, the company's post-issue market value is about A$ 52 million. Jiancheng International is currently in Australia, Singapore, and China's promotion agencies and retail road shows. It is scheduled to start subscription in early November and be listed in mid-December.
According to the prospectus, Jiancheng International Co., Ltd., headquartered in Maanshan City, Anhui Province, mainly provides one-stop manpower subcontracting service solutions for large-scale construction projects around the world. It covers all services such as manpower hunting, system training, assessment and certification, selection and dispatch, mission deployment, engineering management, performance evaluation, and talent retention. As of the end of June 2015, the company's net assets reached 94.3 million yuan(20 million Australian dollars).
Founded in 2003, Jiancheng International has been working hard for more than ten years on transnational human resources services. It has established close cooperation with China Railway Construction, China Construction, China Construction, China China Smelting and other leading overseas projects in Southeast Asia, Africa, the Middle East and the CIS region. According to the prospectus, in 2014, the pre-depreciation profit of Jiancheng International Tax was A$ 8.4 million, and 60 % of the net profit came from overseas businesses. In the past three years, the company's annual revenue growth rate has reached 40 %, and net profit has increased more than 200 times. The company's scale effect has become increasingly prominent.
The establishment of the AIIB and the Chinese government's encouragement of enterprises to go to sea mean that the level of overseas investment and construction activities of Chinese central and large enterprises will reach a new high. Jiancheng International is expected to achieve its own great development based on long-term accumulated experience in overseas construction cooperation. According to the prospectus, Jiancheng International will strengthen the company's leading brand in the local market and promote the company's entry into the international engineering market and stage as an important development goal after listing.
Yuehan·dikesen, chairman of Jiancheng International's board of directors, told reporters that Jiancheng International's listing was aimed at raising funds for the company's further development and that the IPO issue was only the beginning of Jiancheng's series of moves in Australia. Listing in Australia will provide an important opportunity for the company to expand horizontally to other human resources services.
Mr Dixon, who has served as chief operating officer of Australia's veteran blue-collar service provider, has been heartened by his invitation to sit on the board and chair of Jiancheng International. He mentioned that after the successful listing in Australia, Jiancheng International will become the first share of China's engineering blue-collar outsourcing service industry. The Chinese management team chose the Australian Stock Exchange IPO to take into account Australia's outstanding international project management and architectural design reputation. This will help to improve the level of service in the future, broaden the service field, and elevate the image of the company.
Dongshimaike·atekensi, senior underwriter of Jiancheng International's IPO, said that Jiancheng International's IPO is the leader in the internationalization of China's blue-collar service industry. Its business model and development prospects have been highly recognized by many institutional investors.