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Six Chinese companies file for IPO: Startup Funding Roundup – China(Dec 10 to 16)

‘Startup Funding Roundup’, the weekly report prepared by The Passage team, provides detailed information about venture capital financing, fundraising, investments and acquisitions in China.

Dec 19, 2018 by Yun Nie
Six Chinese companies file for IPO: Startup Funding Roundup – China(Dec 10 to 16)

Last week (between December 10 and 16), a total of 66 investments and acquisitions took place in China. Software as a service (SaaS) topped with 14 investments accounting for 21% of funds raised.

(Chart-1)
(Chart-1)

By number, Series A funding round came first followed by angel and acquisitions (24 Series A, 12 Angel, and 11 acquisitions).

(Chart-2)
(Chart-2)

Six home-grown companies filed for IPO last week, raising millions of dollars. Let’s take a closer look at some important investments.

On December 12, Chinese music streaming firm Tencent Music (腾讯音乐) raised USD 1.1 billion from US IPO after pricing its American Depositary Receipts (ADRs) at USD 13 apiece.

The music behemoth started trading on Friday at a price of USD 14.15 per share - an 8.85% uptick compared to the issue price, according to Chinese online news publisher itjuzi.com (IT桔子). The company has a valuation of over USD 22.9 billion.

On the same day, Natural Food International Holding (五谷磨房), the second largest natural health food company in China, began flotation on the Hong Kong Stock Exchange, reported itjuzi.com.

After suffering a 12.35% plunge, the food maker closed the first day of trading at a price of HKD 1.42 (USD 0.18) per share, which valued it at HKD 3.15 billion (USD 403 million).

Chinese mobile advertising company Mobvista (汇量科技) was listed on the Main Board of the Hong Kong Stock Exchange on December 12. The venture offered a total of 318.87 million shares priced at HKD 4 (USD 0.51) apiece.

The proceeds will go to improving big data, AI technologies and IT infrastructure, promoting mobile advertising and analytics platforms, enhancing local service capabilities and increasing global presence, reported online news publisher Ashurst.

On December 13, Chinese biotech startup WuXi AppTec (药明康德) got listed at Hong Kong Stock Exchange, raising USD 967 million at IPO price of HKD 68 (USD 8.70) each.

On December 14, Fosun Tourism (复星旅文), a unit of Chinese conglomerate Fosun International, raised HKD 3.34 billion (USD 426 million) from HK IPO, pricing shares at the lower end of indicated range.

According to the source, Fosun Tourism sold 214.2 million shares at HKD 15.60 (USD 2) per share at a valuation of USD 2.44 billion.

On the same day, Chinese online lending platform 360 Finance (360 金融) got listed on the Nasdaq under the symbol QFIN. The financing firm secured USD 51 million by offering 3.1 million American Depositary Shares (ADSs) at a price of USD 16.50 apiece - the bottom of the targeted USD 16.50 to USD 18.50 range.

Funds will be used to promote brand,launch research, and build the team.

Following is the list of highlighted IPOs.

(Chart-3)
(Chart-3)

Yun Nie

Yun Nie is a New York-based tech reporter. She focuses on India-China financial market, global IT giants and technology-centric market trends. She can be reached at Yunnie@thepassage.cc.

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