IFR International - 21.07.2018

CitigroupûISûSOLEûSPONSORûFORûTHEûmOATûCICC
and Deutsche BankûAREûALSOûWORKINGûONûTHEû
TRANSACTION

XIAOMI IPO REACHES US$5.4bn AS THREE
EXERCISE ‘SHOES

"ANKERSûHAVEûEXERCISEDûTHEûGREENSHOESûINû
full on a trio of Hong Kong IPOs, led by the
JUMBOûmOATûOFû8IAOMI
The underwriters of XIAOMISû(ONGû+ONGû
mOATûHAVEûEXERCISEDûTHEûGREENSHOEûOPTIONûINû
full, lifting the size of the Chinese
SMARTPHONEûMAKERSû)0/ûTOû(+BNû
53BN 
4HEûM
SHAREûGREENSHOEûCOMPRISEDû
ABOUTûMûSECONDARYûSHARESûFROMû
SHAREHOLDERû-ORNINGSIDEûANDûABOUTûMû
PRIMARYûSHARESûFROMû8IAOMI
The greenshoe raised an additional
(+BNûATûTHEû)0/ûPRICEûOFû(+ûAûSHARE û
ONûTOPûOFûTHEûBASEûDEALûSIZEûOFû(+BN
CLSA, Goldman Sachs and Morgan Stanley
WEREûJOINTûSPONSORSûFORûTHEû8IAOMIû)0/
,IVE
VIDEO
STREAMINGûOPERATORûINKESû)0/û
HASûGROWNûTOû(+BNû53M û4HEû
GREENSHOEûCOMPRISEDûMûPRIMARYûSHARES û
RAISINGûANûADDITIONALû(+MûATûTHEû)0/û
PRICEûOFû(+ûAûSHAREûONûTOPûOFûTHEûBASEû
DEALûSIZEûOFû(+BN
3HARESûINû)NKEûROSEûASûMUCHûASûûABOVEû
THEû)0/ûPRICEûONûULYûûTOûAûHIGHûOFû(+û
4HEûSTOCKûCLOSEDûATû(+ûLASTû4HURSDAY
CICC, Citigroup and Deutsche Bank were
JOINTûSPONSORSûONûTHEûmOAT
JIANGXI BANKûHASûPERFORMEDûMOREû
modestly, with shares on Friday reaching
THEIRûHIGHESTûLEVELûYETûOFûûABOVEûTHEû)0/û
PRICEû.ONETHELESSûTHEûFULLûGREENSHOEûWASû
EXERCISEDûTOûEXPANDûTHEû)0/ûSIZEûTOû
(+BNû53BN 
4HEûBANK ûBASEDûINûSOUTH
EASTERNû#HINASû
IANGXIûPROVINCE ûRAISEDûANûADDITIONALû
(+BNûBYûSELLINGûMûSHARESûATûTHEû)0/û
PRICEûOFû(+ûEACHû4HEûSHOEûTAKESûTHEû
FREE
mOATûUPûTOû
4HEûCITYûCOMMERCIALûBANKûHADûRAISEDû
(+BNûFROMûTHEûBASEûDEAL
CCB International and CLSAûWEREûJOINTû
SPONSORSû4HEûTWOûBANKSûWEREûJOINTûGLOBALû
COORDINATORSûANDûJOINTûBOOKRUNNERSûWITHû
AMTDû4HEûOTHERûBOOKRUNNERSûWEREûCMB
International, CEB International, Essence
International, Haitong International, ICBC
International and Industrial Securities
International

FOSUN PHARMA BUILDS WAR CHEST

SHANGHAI FOSUN PHARMACEUTICAL (GROUP) has
RAISEDû(+BNû53M ûFROMûANû(
SHAREû
PLACEMENT
4HEûCOMPANYûSOLDûMû(
SHARES ûORûû
OFûITSûENLARGEDûSHAREûCAPITAL ûATû(+û
EACH

4HEûSHARESûWEREûMARKETEDûATûANûINDICATIVEû

PRICEûRANGEûOFû(+nûEACHûORûATûAû

DISCOUNTûOFûnûTOûTHEûPRE

DEALûSPOTû

ACCORDINGûTOûAûTERMûSHEET

4HEREûWASûANûUPSIZEûOPTIONûOFûMû

SHARESûWHICHûWASûNOTûEXERCISED

4HEûDEALûWASûOVERSUBSCRIBEDûWITHûABOUTû

ûINVESTORSûPARTICIPATINGû4HEûTOPûû

INVESTORSûTOOKûABOUTûTWO

THIRDSûOFûTHEûDEAL

4HEREûISûAû

DAYûLOCK

UPûONûTHEûCOMPANY

4HEûCOMPANYûWILLûUSEûTHEûPROCEEDSûTOû

REPAYûDEBTSûREPLENISHûWORKINGûCAPITALûANDû

lNANCEûPOTENTIALûMERGERSûANDûACQUISITIONSû

DOMESTICALLYûORûOVERSEAS

CICC, Fosun Hani, Morgan Stanley and UBS

WEREûTHEûJOINTûPLACINGûAGENTS

E-HOUSE RAISES HK$4.64bn FROM IPO

E-HOUSE (CHINA) ENTERPRISE has raised

(+BNû53M    ûFROMûAû(ONGû+ONGû

)0/ûTHATûITûPRICEDûATûTHEûBOTTOMûOFûTHEû

INDICATIVEûRANGE

4HEûREALûESTATEûTRANSACTIONûSERVICEû

PROVIDERûSOLDûMûPRIMARYûSHARESûORûû

OFûTHEûENLARGEDûSHAREûCAPITALûATûTHEûBOTTOMû

OFûTHEû(+nûRANGE

4HEûlNALûPRICEûREPRESENTSûAûûPRE

SHOEû

0%ûOFûûANDûPOST

SHOEû0%ûOFû

4HEûCORNERSTONEûINVESTORSûINûTHEûDEALûAREû

!LIBABA

BACKEDû4AOBAOû#HINAû53M û

(ENDERSONû,ANDûCHAIRMANû,EEû3HAUû+EE

BACKEDû3UCCESSFULû,OTUSû53M û/VERSEASû

Chinese Town-owned City Legend

)NTERNATIONALû53M  ûANDû#ITYû

$EVELOPMENTS

OWNEDû%DUCADOû#OMPANYû

53M 

CICC and Credit SuisseûWEREûJOINTûSPONSORSû

4HEûTWOûBANKSûWEREûALSOûJOINTûGLOBALû

COORDINATORSûANDûJOINTûBOOKRUNNERSûWITHû

HSBCû4HEREûWEREûEIGHTûOTHERûJOINTû

BOOKRUNNERS

CANGO ROLLS OUT NYSE IPO

CANGOûAûPROVIDERûOFûAUTOMOTIVEûTRANSACTIONû

SERVICESûINû#HINAûHASûSTARTEDûBOOKBUILDINGû

FORûAû53Mû.93%û)0/

4HEûCOMPANYûISûSELLINGûMûPRIMARYû

SHARESûATûANûINDICATIVEûPRICEûRANGEûOFû53n

ûPERûSHAREû4HEûRANGEûREPRESENTSûAûû

PRE

SHOEû0%ûOFûn

4HEûDEALûISûEXPECTEDûTOûPRICEûONû*ULYûû

ANDûTRADINGûWILLûSTARTûONû*ULYû

4HEREûISûAûGREENSHOEûOPTIONûOFûUPûTOûMû

SHARESûORûûOFûTHEûBASEûOFFERINGûSIZE

&OUNDEDûINûû3HANGHAI

BASEDû#ANGOû

OFFERSûAUTOMOTIVEûlNANCINGûTOûCARûBUYERS

4HEûCOMPANYûPOSTEDûNETûINCOMEûOFû

2MBMû53M  ûFORûTHEûlRSTûTHREEû

MONTHSûOFûûUPûûFROMû2MBMûAû

YEARûEARLIERû)TûHADûNETûINCOMEûOFû2MBMû

INû

0RIVATEûEQUITYûlRMû7ARBURGû0INCUSûOWNSû

ANûûSTAKEûINûTHEûCOMPANYû$IDIû

#HUXINGûOWNSûûWHILEû4ENCENTûOWNSû



Bank of America Merrill Lynch, Goldman Sachs

and Morgan StanleyûAREûTHEûJOINTû

BOOKRUNNERS

AURORA UNDER WAY WITH NASDAQ

FLOAT

AURORA MOBILE, a Chinese mobile data

AGGREGATORûHASûKICKEDûOFFûAû.ASDAQû)0/ûOFû

UPûTOû5M

4HEû3HENZHEN

BASEDûCOMPANYûALSOû

KNOWNûASû*IGUANGûISûOFFERINGûMûPRIMARYû

SHARESûATûANûINDICATIVEûPRICEûRANGEûOFû

53nûEACH

4HEûCOMPANYûPOSTEDûREVENUESûOFû

2MBMû53M   ûINûûVERSUSû

2MBMûINûû)TSûNETûLOSSûROSEûTOû

2MBMûFROMû2MBMûDURINGûTHEû

SAMEûPERIOD

4HEûDEALûWILLûPRICEûONû*ULYû

Credit Suisse, Deutsche Bank and Goldman

SachsûAREûTHEûBOOKRUNNERSûûû

SPONSORS TAKE UP 16% OF QILU’S IPO

*OINTûSPONSORSûChina Securities International

and Zhongtai International SecuritiesûHAVEû

TAKENûUPûûOFûTHEû(+BNû53 û

IPO of QILU EXPRESSWAY after it was

UNDERSUBSCRIBED

4HEû#HINESEûEXPRESSWAYûOPERATORûSAIDûTHEû

ûRETAILûTRANCHEûOFûTHEû)0/ûWASûONLYûABOUTû

ûSUBSCRIBEDûANDûTHEûINSTITUTIONALûTRANCHEû

WASûALSOûUNDERSUBSCRIBED

!SûAûRESULTûLEADSû#HINAû3ECURITIESû

International and Zhongtai International

3ECURITIESûRESPECTIVELYûTOOKûUPûMûANDû

Mû)0/ûSHARES

1ILUSûANNOUNCEMENTûSAIDûTHEREûWOULDûBEû

NOûSTABILISATION

4HEûEXPRESSWAYûOPERATORûINû#HINASû

3HANDONGûPROVINCEûSOLDûMûSHARESûORû

ûOFûTHEûENLARGEDûCAPITALûATû(+ûPERû

SHAREûTHEûBOTTOMûOFûAû(+nû

RANGE

1ILUSûSHARESûFELLûûFROMûTHEû)0/ûPRICEû

ONûTHEIRûDEBUTûLASTû4HURSDAYûTOû(+

4HREEûCORNERSTONEûINVESTORSûCOMMITTEDû

ABOUTû(+MûINûTOTALû4HEYûAREû#ITICû

0RUDENTIALû,IFEû)NSURANCEû3HANDONGû(I

3PEEDû)NVESTMENTûANDû3HANDONGû33&

!BOUTûHALFûOFûTHEûPROCEEDSûWILLûBEûUSEDûTOû

ACQUIREûOPERATINGûTOLLûROADSûBRIDGESûANDû

RELEVANTûINFRASTRUCTUREûPROJECTSûANDûûWILLû

BEûUSEDûFORûMAINTENANCEûOFûTHEû*IHEû

%XPRESSWAYû4HEûREMAINDERûWILLûBEûUSEDûTOû

PAYûSHORT

TERMûBANKûLOANSûORûFORûGENERALû

CORPORATEûPURPOSES

China Securities International and Zhongtai

International AREûTHEûJOINTûSPONSORSûANDûALSOû

JOINTûGLOBALûCOORDINATORSûWITHûCCB

International, GF Securities Hong Kong and

Guotai Junan International

EQUITIES ASIA-PACIFIC