Narada boutique hotel to file for IPO

Column: industry Tag: Narada boutique hotel,IPO,initial public offerings Published: 2017-03-06 19:55 Source: Author:

Narada boutique hotel to file for IPO
Narada boutique hotel announced that it was applying for its initial public offerings (IPO), and has submitted pre-listing tutoring materials a few days ago. Now Narada boutique hotel is taking a tutoring from Essence Securities

According to its announcement, Narada referred its record filing and registration of IPO tutoring to Zhejiang Office of China Securities Regulatory Commission ( CSRC) on Feb. 28th, 2017, which was publicly displayed on the CSRC Zhejiang Office on Mar.1st, 2017.

Public information shows that Narada listed on the NEW Three Board on Mar. 30, 2016. Since then, Narada has been in its negotiating transfer and didn't finance or trade on the NEW Three Board. Up to Jun. 30, 2016, the number of corporate shareholders amounted to 7.

The net profit of Narada is respectively ¥8.6141million Yuan in 2013,¥18.9606 million Yuan in 2014 and¥32.9353 million Yuan in 2015, which basically meet the requirement of Main Board Listing that it shows a positive net profit in the first Three fiscal year and the net profit should accumulate more than 30million.

In its annual financial report of the first half of 2016, the company has total assets of $21 billion, $8.6 billion in debt and its leverage ratio of 75.13%.

Data of Dudong New Three Board Research shows that Narada mainly invests and operates high-end hotel chains, and offer hotel management and consulting, accommodation and relative supporting services. In the first half of 2016, the company had revenue of ¥150million Yuan,up 18.83%  year on year, with  net income of 18.9222million Yuan, 18.83% on the increase than the preceding year.