vending machine operatorYoubao online(02429.HK) announced the prospectus results, with an offering price of HK$10.35 per share, which is priced in the middle range of HK$940 to HK$11.40 in the prospectus price range. It is expected to raise a total of HK$234 million (no over-allotment rights). After deducting underwriting commissions and listing expenses, the net amount raised is approximately HK$154.9 million.
Youbao onlineIt will be listed on the Hong Kong Stock Exchange tomorrow (November 3).
Youbao onlineApproximately 80.0% of the IPO proceeds will be used to expand the coverage and penetration rate of the network of points. It is planned to increase the number of points in different consumption scenarios such as schools, factories, restaurants, offices, public places and other high-quality places in the first-tier, first-tier, second-tier and third-tier cities in mainland China; about 5.0% will be used to further develop operational capacity and enhance warehouse management capabilities through the construction and upgrading of warehousing and/or logistics systems across mainland China; about 7.0% will be used to further develop R&D capabilities and improve operating systems and vending machine technology; and about 8.0% For working capital and other general corporate purposes.
Youbao onlineThe Hong Kong public offering section was significantly oversubscribed, and a total of 5,308 subscriptions were recorded. The total number of shares subscribed is equivalent to about 11.29 times the initial total number of shares available for sale in Hong Kong; the international sale portion was slightly oversubscribed, equivalent to about 1.41 times the number of shares available for international placement.
Youbao onlineThis is the time an IPO was introducedNayuki's tea(02150.HK),Shang Tang(00020.HK),Wei Jinbingteacher,Melaka Internet TechnologyThe four Cornerstone investors have subscribed for a total of 11.1655 million shares offered, accounting for 49.46% of the total number of shares offered globally and 1.43% of the company's issued share capital after the completion of the global sale.
Youbao onlineHuatai International and CITIC Construction Investment International are co-sponsors of this IPO. Other underwriters include Huasheng Capital, Agricultural Bank International, CCB International, China Galaxy International, CMB International, ICBC International, and Livermore Securities.
According to the prospectus,Youbao onlineIn the shareholder structure after listing, the concerted actors Mr. Wang Bin and Mr. Chen Kunrong held about 17.38% and 3.97% of the shares respectively, for a total of 21.35%. Mr. Shen Guojun holds 6.33% of the shares; Mr. Lin Rong holds 1.61% of the shares; Ant Group holds 16.20% of the shares through Shanghai Yunxin; Chunhua Capital holds 5.40% of the shares through Chunhua Rongshun; Mr. Xu Ge holds 4.57% of the shares; Mr. Xiao Yu holds 2.72%; Komqingcheng Changyou holds 2.07% of the shares; Guoxin Energy Fund holds 0.85%; others, including CICC Qiyuan and the company's employee incentive platform Shenzhen Youhui, hold a total of about 36.00% of shares;Shareholders of H shares held 2.90% according to global offerings.
Youbao onlineAs an unmanned retail operator in mainland China, according to data from Frost & Sullivan, it accounted for 7.6% of the market share in terms of total products in 2022. According to data from Frost & Sullivan, the company ranked first in the unmanned retail industry in mainland China in 2019, 2020, 2021 and 2022 in terms of total traded products and network size. As of June 30, 2023,Youbao onlineThe point network has 61,888 vending machine Youbao points, covering 157 cities and 28 provincial administrative districts in mainland China. Of these, 87.3% are concentrated in Tier 1, New Tier 1, and Tier 2 cities. As of the same day, the cumulative number of transactions on Youbao Online reached 5.4 billion, and the cumulative number of identifiable transaction users reached 354.5 million.
Youbao's online prospectus link:
