The listing sponsor team is Morgan Stanley, JP Morgan Chase, Goldman Sachs and UBS.
Editor’s note: This article comes from Tencent Technology, author Luo Fei.
On January 14, Tencent News “Frontline” learned that Station B has formally submitted a listing application to the Hong Kong Stock Exchange and plans to list in Hong Kong in March. The sponsoring team for this listing is Morgan Stanley, JP Morgan Chase, Goldman Sachs and UBS.
According to the procedures of the Hong Kong Stock Exchange, companies returning to Hong Kong for secondary listing can submit their forms in secret, and do not need to publish specific information on the website of the Stock Exchange before passing the hearing.
Although the B station listing team hopes to officially ring the bell for listing in Hong Kong in March, its specific timetable still needs to be arranged according to the hearing time of the Hong Kong Stock Exchange. Generally speaking, a hearing may be arranged about 2 months after the company submitted its listing application. The Kuaishou company, which has recently been queuing for listing, has waited for nearly 70 days.
According to public information on station B, the third quarter revenue of station B reached 3.23 billion yuan, a year-on-year increase of 74%, far exceeding market expectations.
As of the closing price of U.S. stocks on January 12, station B was $115.44 per share, with a market value of over $40 billion. In the past year, the market value of Station B has risen more than 5 times.
There have been market rumors that Station B plans to raise US$3 billion this time. Tencent News “Frontline” learned from the listing team that Station B has no specific fundraising plan. The specific fundraising amount needs to be based on the The market value is determined again.
However, in accordance with the normal practice of returning to Hong Kong for secondary listed companies, the fundraising amount is calculated at 5% of the market value. This time the share price of Station B has reached a new high, and there will be some discounts when returning to Hong Kong.