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China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
12-06-2018, 06:51 PM.
Post: #1
China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
China's Meituan Is Said to Plan $6 Billion IPO Filing This Month

By Lulu Yilun Chen , Eric Newcomer , and Crystal Tse
June 12, 2018, 5:30 PM GMT+8

China’s restaurant review and delivery giant Meituan Dianping plans to file for an initial public offering of about $6 billion in Hong Kong as soon as this month, according to people familiar with the matter, the city’s second multibillion-dollar public listing by a tech startup this year.

The company is considering selling about 10 percent of the company, the minimum required under Hong Kong exchange rules, to avoid dilution, said one of the people, who asked not to be named because the matter is private. The company is targeting a valuation of roughly $60 billion, the person said, although the valuation and fundraising target won’t be in the initial filing documents. With the first filing in June, the actual listing of Meituan shares is likely around October, the people said.

Meituan is also considered a prime candidate to sell shares in mainland China as part of the government’s program to give more opportunities to domestic investors. It’s not clear yet when the sale of Chinese depository receipts would take place. Meituan declined to comment on a potential IPO and said that if it has specific fundraising plans it will announce them at the appropriate time.

More details in https://www.bloomberg.com/news/articles/...this-month
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04-09-2018, 02:05 PM.
Post: #2
RE: China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
Meituan Dianping begins institutional order taking for up US$4.4 billion IPO in Hong Kong, the city’s second major tech listing this year
Cookies Quartet ranked second in Hong Kong in terms of revenue last year

Laura He
PUBLISHED : Tuesday, 04 September, 2018, 12:39pm
UPDATED : Tuesday, 04 September, 2018, 12:39pm

Meituan Dianping, China’s largest on-demand online service provider, has lined up US$1.5 billion from five cornerstone investors including Oppenheimer, Tencent, and Lansdowne Partners for its upcoming Hong Kong IPO.

The listing would be the city’s second blockbuster tech float this year after Xiaomi and perhaps the biggest for an internet services company since Tencent Holdings’ IPO in 2004.

At a pricing range of HK$60 to HK$72 per share, Meituan plans to issue 480.27 billion shares, seeking to raise US$3.7 billion to US$4.4 billion. If it exercises an over-allotment option, the IPO value could rise by 15 per cent to between US$4.2 billion to US$5 billion.

That would make Meituan’s listing the third largest in Hong Kong this year, after telecoms tower firm China Tower and smartphone maker Xiaomi.

The IPO also adds to a flurry of Chinese internet listings in Hong Kong this year. By the end of July, at least 10 Chinese internet firms had raised a combined HK$42 billion. (US$5.35 billion).

At the indicated pricing range, Meituan is seeking a valuation of between US$45.5 billion to US$54.7 billion. That is up 52 per cent to 82 per cent from its most recent fundraising round last October, when it was valued at US$30 billion.

Meituan will begin taking institutional orders for shares from Tuesday, and retail orders from Friday. The stock is expected to start trading on September 20 on Hong Kong’s main board.

The internet firm would also become the second listed company on the Hong Kong stock market using a weighted voting rights share structure, which gives founders greater voting power over minority shareholders.

The listing prospectus showed Meituan suffered loss making years in 2015, 2016 and 2017, losing 10.5 billion yuan (US$1.54 billion), 5.8 billion yuan, and 19 billion yuan respectively. After adjustment – excluding the impact of fair value changes of convertible redeemable preferred shares and other items, the net losses were 5.9 billion yuan, 5.4 billion yuan, and 2.9 billion yuan respectively for the three years.

More details in https://www.scmp.com/business/companies/...44-billion
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13-09-2018, 06:40 PM.
Post: #3
RE: China's Meituan Is Said to Plan $6 Billion IPO Filing This Month
Hong Kong billionaires Li Ka-shing, Joseph Lau and Adrian Cheng subscribe to Meituan Dianping’s US$4.2 billion IPO
Meituan Dianping, the Chinese on-demand online service provider, has priced its IPO near the top end of the indicative range at HK$69 per share

Laura He
PUBLISHED : Thursday, 13 September, 2018, 12:30pm
UPDATED : Thursday, 13 September, 2018, 6:17pm

Hong Kong billionaires Li Ka-shing, Joseph Lau Luen-hung and Adrian Cheng Chi-kong have put their faith in Meituan Dianping’s HK$33.14 billion (US$4.2 billion) IPO – the city’s second largest tech offering this year.

Meituan, an online platform offering services ranging from movie ticketing to food delivery, has priced its initial public offering at HK$69 per share, near the top of the indicative range of HK$60 to HK$72, according to sources.

Li Ka-shing, the city’s richest man known affectionately as “Superman” for his ability to pick winners, has subscribed to the IPO under the international placement tranche, the sources said.

Joseph Lau Luen-hung, former chairman of Chinese Estates and Adrian Cheng, executive vice-chairman of New World Development, appear to also have been convinced of Meituan’s potential.

Hillhouse Capital and Tiger Fund, the existing investors of the Beijing-based company, have subscribed to the offering.

Meituan’s HK$33.14 billion fundraising will make it Hong Kong’s second blockbuster tech float this year after Chinese mobile phone maker Xiaomi, and possibly the biggest for an internet services company since Tencent Holdings, which raised US$200 million in 2004.

If the company exercises an over-allotment option, the IPO value could rise by 15 per cent to US$4.8 billion. That would make Meituan’s listing the third largest in Hong Kong this year, after telecoms tower operator China Tower and Xiaomi.

At the offer price, Meituan is seeking a valuation of around US$52.4 billion – 75 per cent above its most recent fundraising round last October, when it was valued at US$30 billion.

The stock is expected to start trading on Hong Kong’s main board from September 20.

More details in https://www.scmp.com/business/companies/...rian-cheng
Specuvestor: Asset - Business - Structure.

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