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Kuaishou IPO│The news indicates that the admission fee of 11,600 yuan from Tuesday, Tencent is the largest investment

2021-01-25T03:04:29.898Z

According to market news, the mainland short video platform Kuaishou will issue 365 million shares in the Hong Kong IPO, with an offer price ranging from HK$105 to HK$115 per share, and the amount of funds raised may exceed HK$48 billion. Compared with the 2020 IPO fund raising, Wang Jing



Financial News

Author: Wan Ran

2021-01-25 08:11

Last update date: 2021-01-25 10:59

According to market news, the mainland short video platform Kuaishou will issue 365 million shares in the Hong Kong IPO, with an offer price ranging from HK$105 to HK$115 per share, and the amount of funds raised may exceed HK$48 billion.

This is higher than the amount of HK$34.56 billion raised by the King Jingdong Group in IPO funds in 2020.

It is understood that the proportion of Kuaishou's Hong Kong public offering is only 2.5%.

The stock will be publicly offered tomorrow (26th, Tuesday).

Kuaishou’s listing valuation will range from 55.6 billion to 60.9 billion U.S. dollars, and the post-over-allotment valuation can increase to 61.7 billion U.S. dollars.

According to the preliminary prospectus documents, the revenue of Kuaishou reached RMB 40.7 billion for the nine months ended September 30, 2020 (the same below), an increase of 49% year-on-year.

Among them, the revenue of live broadcast business increased from 7.9 billion yuan in 2017 to 31.4 billion yuan in 2019, and 25.3 billion yuan in the first nine months of 2020.

In addition, the proportion of revenue related to non-live broadcasting business has continued to increase, from 4.7% in 2017 to 37.8% in the first nine months of 2020.

Rumor has attracted about 10 cornerstone investors

"Hong Kong Economic Times" reported that sources said that Kuaishou has attracted about 10 cornerstone investors, including Capital Group, Canadian Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Board (ADIA), Singapore Temasek, Kuaishou expects More than $2 billion of shares will be reserved for cornerstone investors.

In the shareholding structure that has attracted much attention, the proportions held by several executives in Kuaishou are respectively: Reach Best Trust Fund, with Su Hua and his family as the ultimate beneficiaries, holds 12.64%; and Cheng Yixiao and his family as the ultimate beneficiaries People’s Ke Yong’s trust fund holds 10.023%; Fortune One trust fund with Beijing Kuaishou director Yin Xin and his family as the ultimate beneficiaries holds 2.422%; Beijing Kuaishou Guangxu director Yang Yuanxi and his family are the ultimate beneficiaries The Jovial Star Trust Fund holds 2.069%.

In addition, Tencent Mobile, a subsidiary of Tencent, is the largest institutional investor in Kuaishou, holding 21.57% of Kuaishou’s outstanding shares; Morningside Capital is Kuaishou’s second largest institutional shareholder holding 16.6% of Kuaishou’s shares; and the third largest institutional shareholder is DCM Capital, holding 9.23% after several rounds of holdings; the fourth largest institutional shareholder is DST Asia IV Mauritius Private Co., Ltd., holding 6.43% of Kuaishou.

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Source: hk1

All news articles on 2021-01-25

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