Gee Rabbit Express Delivery Global Co., Ltd., supported by China Technology Giant Tencent, has performed mediocre its stock price on the first day of listing in Hong Kong.
Comprehensive Bloomberg and Wall Street Journal reported that Ji Rabbit Express was officially listed on the Hong Kong Exchange on Friday (October 27), becoming the second largest public offering (IPO) transaction in the Hong Kong stock market this year.
In the early days of the opening, the stock price of Ji Rabbit Express rose slightly by 0.17%to HK $ 12.02 (Same, about S $ 2.11).11.82 Hong Kong dollars.After that, the stock price of Ji Rabbit Express hovered at HK $ 11.90 to HK $ 12, until 2:20 pm rose to HK $ 12.08.
The total amount of the IPO income of this IPO is HK $ 3.92 billion. It will be used to develop logistics networks and warehousing capabilities in Southeast Asia, as well as expanding new markets and providing funding support for research and development.
The international offering of the IPO is 1.9 times excess subscription, and the cornerstone investors subscribe to nearly 40%of all issued shares.The cornerstone investors include Chinese technology giants Tencent, private equity company Hillhouse Capital, Sequoia Capital, and Temasek, Singapore sovereign wealth fund.
Extreme Rabbit Express was delivered in 2015 in Indonesia. Currently, it provides express delivery services in 13 countries, including Southeast Asian countries and Saudi Arabia, UAE, Mexico, Brazil and Egypt.
