02443 汽車街
AUTOSTREETS
AUTOSTREETS
| Listing Date | 2024/05/31 |
| Listing Price | 10.200 |
Quote
Subscription Result
- Subscription Rate433.34x
- Guarantee One Lot Size200 lot
- One Lot Success Rate5.01%
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IPO Detail
COMPANY PROFILE
Autostreets Development Limited is an intermediary that connects used vehicle buyers and sellers, it facilitates used vehicle transactions through its transaction platform in two auction formats, namely online-offline integrated auction and online auction.
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The Group is China’s largest used vehicle transaction service provider in terms of transaction volume in 2022, according to CIC. In 2022, approximately 160,000 units of used vehicles were transacted through its transaction platform, with a market share of 12.6% among China’s used vehicle transaction service providers.
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The Group complement its online-offline integrated auction services with a full suite of value-added services, primarily including pre-acquisition inspection and appraisal, used vehicle acquisition assistance, provision of ADMS system and title transfer services offered to used vehicle sellers and other services, primarily including arrangement for sale of used vehicles, exhibition related services, and other services throughout the entire used vehicle transaction cycle for its used vehicles sellers and buyers.
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As of December 31, 2023, the Group had 79 auction sites strategically located in 74 cities and offered offline services in 317 cities across China. Its customers mainly included professional Buyers, who purchased used vehicle through its transaction platform, and dealership groups, to whom it provided used vehicle value-added services and arrangement for sale of used vehicles.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Automobiles |
| Major Business Area | China |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 15.00M shares |
| No. of International Offer Shares | 12.00M shares |
| No. of HK Offer Shares | 3.00M shares |
| Offer Price | $10.20 - $11.20 |
| Stock Code | 2443 |
| Sponsor(s) | CITIC Securities (Hong Kong) Limited, Haitong International Capital Limited |
| Underwriter(s) | CLSA Limited, Haitong International Securities Company Limited, Fosun International Securities Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMB International Capital Limited, SPDB International Capital Limited, ABCI Securities Company Limited, BOCI Asia Limited, Futu Securities International (Hong Kong) Limited, Livermore Holdings Limited, Patrons Securities Limited, Ruibang Securities Limited |
TIME TABLE
| Application Period | May 23 (Thu) - noon, May 28 (Tue) |
| Price Determination Date | May 29 (Wed) |
| Result Announcement Date | On or before May 30 (Thu) |
| Result Announcement Date | On or before May 30 (Thu) |
| Result Announcement Date | On or before May 31 (Fri) |
| Dealings in Shares commence on | May 31, 2024. (Fri) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $10.20 - $11.20 |
| Capitalization | 8.49B - 9.33B |
| NAV / share ($) | $1.16 - $1.18 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 10.70, the net proceeds raised would be HKD 98.00M, of which |
| 40% : Expansion of the geographic coverage of auction site network |
| 10% : Enhance relationship with existing sellers and buyers and attract new sellers and buyers to platform |
| 15% : Developing and diversifying service offering and exploring new growth areas |
| 15% : Further invest in research and development to further strengthen digitalized infrastructure |
| 10% : Forming potential strategic partnerships and alliances with business partners, and making investments and/or acquiring controlling interest in target companies in industry |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).