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turkish gold jewelry wholesale Meitu Xiuxiu did not come to the New Third Board, but went to Hong Kong stocks.
On August 19, 2016, Meitu Xiuxiu officially submitted a listing application to the Hong Kong Stock Exchange and plans to raise 500 million US dollars to $ 1 billion.
. I just want to ask: I love the New Third Board, why did I send my own son to Hong Kong stocks? Intersection
has no love for no reason, nor hate for no reason.
Mato abandoned the essence of the New Third Board to the Hong Kong stocks is that the New Third Board is a "financing board", and Hong Kong stocks are "cash -out boards".
In 2015, the average turnover rate of the New Third Board was 9.68%. During the same period, the average rate of handover of Hong Kong stocks was 98.98%. Obviously, Hong Kong stocks are easier to cash out.
In Hong Kong stocks, Morgan Chase once cash up 46.7 billion yuan a day.
On November 20, 2014, Morgan Chase also reduced its holdings at least 70 shares at the same time, involving a number of blue chip stocks such as Changhe, PetroChina, Ping An of China, and AUO. RMB 46.7 billion.
not only that, Hong Kong stocks shareholders can also be cash out through the old stock transfer in the IPO. When MGM China (02282.HK) was listed, 760 million shares were issued. All of these stocks came from the stocks held by the chairman He Chaoqiong. Based on the issue price of HK $ 15.34, He Chaoqiong cashed out more than 11 billion Hong Kong dollars.
The opening of the Shenzhen -Hong Kong Stock Connect, and a large amount of funds in the Mainland flow into Hong Kong stocks. These incremental funds will greatly increase the liquidity of Hong Kong stocks. It will undoubtedly be easier to cash with shareholders.
is just right, Meitu needs a "cash -out board".
has received the first angel investment from Meitu in 2009, and has passed 7 years. It is not short for 7 years whether it is an Internet company or an investment.
Since 2011, Meitu has made four rounds of financing A, B, C, and D. The cumulative financing amount has been US $ 660 million, and the Matu company has a valuation of US $ 4 billion.
The long and huge investment is the embarrassment of Meitu's development.
The prospectus of Meitu shows that the number of monthly active users of Meitu in the first half of 2014, 2015 and 2016 was 184 million, 372 million, and 446 million, respectively. You must know that Sina Weibo, which exceeds the market value of 10 billion US dollars, the latter's monthly active users are only 282 million.
But in the first half of 2016, Meitu's advertising revenue was only 25.9 million yuan, which was not small compared to Weibo's 1.438 billion advertising revenue.
The income from Meitu Xiuxiu is not much, Meitu has become a "selling mobile phone" company. In the first half of 2015 and 2016, smartphone sales accounted for 89.9%and 95.1%of the total income of Meitu, respectively. The main income depends on the mobile phone, and it is not so easy to get a high valuation.
At the same time, Meitu continued to lose money. After deducting the fair value loss from convertible and redeeming preferred stocks, Meitu actually lost 290 million in 2015. In the first half of 2016, the actual loss was 257 million.
The investment period is too long, the business is facing transformation, and the pressure of investors' exit can be imagined. At this time, Meitu needs to find a satisfactory exit way for investors. Hong Kong stocks are obviously a better choice. After all, the rear valuation of the D round has been $ 4 billion, and it is the beauty of the VIE company. If you want to operate to the New Third Board, the cost is not low, and the effect may not be good.
Meitu Xiuxiu, had to give up the new three boards.
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