Copyright © 2020 The Motley Fool Hong Kong Ltd. All rights reserved. The Company connects consumers and businesses to provide services satisfying people's daily eating needs. The float comes as Alibaba is beefing up Ele.me’s war chest at a time when the cost of expanding in China’s food delivery market is rising sharply. Before purchasing any discussed securities, please be sure actions are in line with your investment objectives, financial situation and particular needs.

Recommendations and opinions are subject to change without notice. Tencent committed $400 million; global asset manager Oppenheimer $500 million; UK-based hedge fund Lansdowne Partners $300 million; U.S. fund Darsana $200 million and state-backed China Structural Reform Fund $100 million. The Company owns an instant food ordering and delivery brand, Meituan, as well as provides services through its mobile application, Meituan. Meituan is now a more valuable company than HSBC Holdings plc (SEHK: 5) and AIA Group Ltd. How expensive is Meituan’s stock?

It is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities.

Loss-making Meituan last month set a price range of HK$60 to HK$72 per share for the IPO. “Since the stock priced at the upper end of the range, it suggests institutions are holding a more positive view on the company and on this type of new economy IPOs,” said Steven Leung, sales director at brokerage UOB Kay Hian. Meituan’s float, the world’s largest internet-focused IPO since Alibaba’s $25 billion New York listing in 2014, is also Hong Kong’s second multibillion-dollar tech float this year after Chinese smartphone maker Xiaomi Corp’s IPO of $5.4 billion. Alibaba said last month it formed a holding company for Ele.me and food and lifestyle services firm Koubei, for which it had received over $3 billion in new investment commitments, including from Japan’s SoftBank Group. Toss: Chennai Super Kings, Elected To: Field, Xiaomi Mi 10T, Mi 10T Pro, Mi True Wireless Earphones 2C to launch in India today at 12 pm: How to watch it live, Xiaomi Mi 10T series Launch Event highlights: Mi True Wireless Earphones 2C launched at Rs 2,499, Mi 10T Pro at Rs 39,999, Mi 10T from Rs 35,999, Redmi 9 Prime review: Tailored for buyers on budget. Both parties, in a bruising battle for market share, are offering heavy discounts to attract new customers. Get technology news, gadgets reviews & ratings. International investors may be subject to additional risks arising from currency fluctuations and/or local taxes or restrictions. The price-to-earnings (PE) ratio of Tencent is 42, while Alibaba Group Holding Ltd (NYSE: BABA) shares go for a PE of 28x. Find latest and upcoming tech gadgets online on Tech2 Gadgets. All rights reserved. Updated Date: Hong Kong: Chinese online food delivery-to-ticketing services firm Meituan Dianping raised $4.2 billion in the world’s biggest internet-focused IPO in four years as it priced the float near the top end of a marketed range, people close to the deal said.

Meituan plans to mainly use the proceeds raised from the IPO to upgrade its technology, develop new services and products, and pursue acquisitions or investments in assets complementary to its business, according to its prospectus.

Please remember that investments can go up and down, including the possibility a stock could lose all of its value. All rights reserved. International investors may be subject to additional risks arising from currency fluctuations and/or local taxes or restrictions. People close to the deal told Reuters the institutional books were covered multiple times while the retail tranche was covered about 1.5 times.

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Investors may wonder if Tencent takes a cut by processing the payment as well. Meituan’s IPO comes amid a packed Hong Kong listing calendar, including an expected float of at least $3 billion from bitcoin mining equipment maker Bitmain and an IPO worth up to $1 billion from Chinese movie ticketing platform Maoyan Weying. The Earth, Space & the Human Race Podcast Ep 8: Are people in India\'s cities malnourished too. The budget battery boss that suffers due to slow charging and bloatware. Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley are joint sponsors of Meituan’s IPO. Meituan will need to stick to WeChat Pay before its “Meituan Pay” gains any traction. The proceeds will help Meituan fortify itself against stiff competition from its main competitor, food-delivery platform Ele.me which is backed by China’s biggest e-commerce company Alibaba Group Holding. The information contained in this publication are obtained from, or based upon publicly available sources that we believe to reliable, but we make no warranty as to their accuracy or usefulness of the information provided, and accepts no liability for losses incurred by readers using research. It offers a broad range of services including movie ticketing, food delivery, hotel and travel booking as well as ride-hailing. September 13, 2018 16:37:38 IST. Meanwhile, the PE of Meituan … Copyright © 2020.

Several recent listings, including Xiaomi’s, have dropped below their IPO prices. Meituan’s dependence on Alipay is lower than ever. It doesn’t matter whether Meituan pays all the commission to Tencent or splits it between Tencent and Alibaba. Both the Xiaomi Mi 10T and Mi 10T Pro will come with Snapdragon 865 chipset and a 5,000 mAh battery. It is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities. But the deal comes at a time when Hong Kong’s stock market has entered bear territory, falling 20 percent from its January peak amid Sino-US trade tensions. Before purchasing any discussed securities, please be sure actions are in line with your investment objectives, financial situation and particular needs. Beijing-based Meituan declined to comment on the pricing. Past performance is not indicative of future results. MEITUAN DIANPING is a China-based e-commerce platform providing life services. Loss-making Meituan last month set a price range of HK$60 to HK$72 per share for the IPO.

The IPO size represents 8 percent of its enlarged share capital and the $53 billion valuation takes into account shares to be issued under a pre-IPO employee stock ownership plan, the people said. Company profile for Meituan Dianping including key executives, insider trading, ownership, revenue and average growth rates. Unlike Alibaba, Tencent is known for a management strategy of … “Though it priced the stock at the upper end of the range, we see it as an one-off event and it won’t be able to cheer up the local IPO market,” said Linus Yip, chief strategist at First Shanghai Securities. Meituan, backed by Chinese social media and gaming firm Tencent Holdings, sold about 480 million primary shares at HK$69 ($8.79) each in the Hong Kong IPO, valuing the company at around $52.8 billion, the sources said on Thursday.

Hong Kong: Chinese online food delivery-to-ticketing services firm Meituan Dianping raised $4.2 billion in the world’s biggest internet-focused IPO in four years as it priced the float near the top end of a marketed range, people close to the deal said. Please remember that investments can go up and down, including the possibility a stock could lose all of its value. All information is provided by The Motley Fool Hong Kong Ltd, Any information, commentary, recommendations or statements of opinion provided here are for general information purposes only. © 2020 The Motley Fool Hong Kong Limited. The IPO received strong support from institutional investors despite a weak overall Hong Kong stock market. Tencent-backed Meituan Dianping raises US$4.2b in IPO It sold about 480m primary shares at HK$69 (S$12), valuing the company at around US$52.8 billion Fri, Sep 14, 2018 - 5:50 AM Leung forecast a “stable” debut for Meituan when it starts trading on 20 September.

Meituan turned to Tencent at about the same time, accepting an investment in 2015. Hong Kong has seen a pickup in interest for new economy listings following a market rally since late last year and after the exchange introduced new rules designed to attract tech companies by allowing dual-class share structures. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison. Copyright © 2020 The Motley Fool Hong Kong Ltd. All rights reserved. © 2020 The Motley Fool Hong Kong Limited. View detailed 3690.HK description & address. Meituan had lined up $1.5 billion from five cornerstone investors for the IPO. Sign up for a weekly curated briefing of the most important strategic affairs stories from across the world. Founded in 2010 by Wang Xing, Meituan which has been likened to U.S. discounting platform Groupon Inc, completed a $15 billion merger in 2015 with its then main rival Dianping, akin to U.S. online review firm Yelp Inc. Both Mi 10T and Mi 10T Pro feature Snapdragon 865 processor, 144 Hz refresh rate display and a 5,000 mAh battery. The information contained in this publication are obtained from, or based upon publicly available sources that we believe to reliable, but we make no warranty as to their accuracy or usefulness of the information provided, and accepts no liability for losses incurred by readers using research. It could raise as much as $4.85 billion in total if a 15 percent 'greenshoe', or over-allotment option, is fully exercised after the shares begin trading. The HK$69 IPO price represents a multiple of 27 times its 2020 profit forecast by its underwriting syndicate, according to sources. The people declined to be identified as details of the pricing have not been published yet. All information is provided by The Motley Fool Hong Kong Ltd, Any information, commentary, recommendations or statements of opinion provided here are for general information purposes only. Recommendations and opinions are subject to change without notice.

Past performance is not indicative of future results.

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