Summary of the Global Offering
– Number of Offer Shares under the Global Offering: a total of 159,750,000 Shares (subject to the Over-allotment Option); comprising 143,775,000 International Offer Shares (subject to the Over-allotment Option and reallocation) and 15,975,000 Hong Kong Offer Shares (subject to reallocation)
– Maximum Offer Price: HK$2.86 per Offer Share (payable in full on application in Hong Kong dollars and subject to refund)
– Hong Kong Public Offering commences at 9:00 a.m. on Monday, September 30, 2024 and closes at 12:00 noon on Thursday, October 10, 2024
– Dealings in the Shares on the Stock Exchange expected to commence at 9:00 a.m. on Wednesday, October 16, 2024
– Stock code: 2567.HK
– The Shares of the Company will be traded in board lots of 1,000 Shares each
– Shenwan Hongyuan Capital (H.K.) Limited and BOCOM International (Asia) Limited are the Joint Sponsors, Shenwan Hongyuan Securities (H.K.) Limited, BOCOM International Securities Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead Managers of the Global Offering
Qiniu Limited (Qiniu or the Company; HKG: 2567) announces the listing of its shares in a global offering (theGlobal Offering) on the Main Board of The Stock Exchange of Hong Kong Limited (the Hong Kong Stock Exchange).
The number of Offer Shares under the Global Offering totaled 159,750,000 (subject to the Over-allotment Option). This includes 15,975,000 Hong Kong Offer Shares initially available under the Hong Kong Public Offering (subject to reallocation); and 143,775,000 International Offer Shares (subject to the Over-allotment Option and reallocation).
The Hong Kong Public Offering will commence at 9:00 a.m. on Monday, September 30, 2024 and end at 12:00 noon on Thursday, October 10, 2024. Dealings in the Shares on the Stock Exchange are expected to commence at 9:00 a.m. on Wednesday, October 16, 2024. The Shares will be traded in board lot sizes of 1,000 Shares. The stock code will be 2567.HK.
The Company will receive net proceeds from the Global Offering of approximately HK$374.7 million (assuming that the Over-allotment Option is not exercised), assuming an Offer Price of HK$2.80 per Share, which is the mid-point of the Offer Price range stated in this prospectus and after deduction of the underwriting fees and estimated expenses payable by the Group relating to the Global Offering.
The Company intends to use the net proceeds from the Global Offering for the following purposes:
– Approximately 38.0% of the net proceeds from the Global Offering, or approximately HK$142.4 million, will be used for penetrating and deepening our presence in the application scenarios of our APaaS business and developing and expanding our customer base;
– Approximately 20.0% of the net proceeds from the Global Offering, or approximately HK$74.9 million, will be used for expanding our overseas business over the next 36 to 60 months;
– Approximately 12.0% of the net proceeds from the Global Offering, or approximately HK$45.0 million, will be used for enhancing our research and development capabilities and improving our technology infrastructure;
– Approximately 20.0% of the net proceeds from the Global Offering, or approximately HK$74.9 million, will be used for selected mergers, acquisitions, and strategic investments, including to continue seeking potential businesses and assets that can supplement or enhance our existing business and are strategically beneficial to our long-term goals in the next 36 to 60 months;
– Approximately 10.0% of the net proceeds from the Global Offering, or approximately HK$37.5 million, will be used for working capital and general corporate purposes.
Shenwan Hongyuan Capital (H.K.) Limited and BOCOM International (Asia) Limited are the Joint Sponsors, Shenwan Hongyuan Securities (H.K.) Limited, BOCOM International Securities Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead Managers of the Global Offering.
Qiniu Limited
Qiniu Limited (“Qiniu” or the “Company“), found in 2011, is the second largest audiovisual APaaS provider and the third largest PaaS provider in China based in Shanghai, the PRC and focuses on the audiovisual cloud service. At present, the Company has become a company which has developed comprehensive and high-performance MPaaS products and possessed technology capabilities that are integrated and cover all aspects of the audiovisual business. As of March 31, 2024, the Company had over 1,500,000 registered users across various industries including, among others, pan-entertainment, social networking, healthcare, e-commerce, education, media, financial services, automotive, telecommunications and intelligent manufacturing. The revenue of the Company accounted for 1.5% of the entire audiovisual cloud service market in 2023, according to iResearch. The Company is the third largest audiovisual PaaS provider in China in terms of revenue in 2023, with a market share of 5.8%, and the second largest audiovisual APaaS provider in China in terms of revenue generated from APaaS in 2023 with a market share of 14.1%.
The press release is distributed by Intelligent Joy Limited on behalf of Qiniu Limited.
For further information, please contact:
Intelligent Joy Limited
Grace Ge / Banjy Chen
Tel:（852）3594 6407
Email: grace.ge@intelligentjoy.com / banjy.chen@intelligentjoy.com
Important Disclaimer:
The press release is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for any securities of the Company, nor does constitute the recommendation for the securities to be sold or any invitation or offer to acquire, purchase or subscribe for the securities. Potential investors should read the prospectus for detailed information about the Company and the proposed offering before deciding whether or not to purchase the shares of the Company. Any application for subscription of the shares of the Company involved in the press release shall only rely on the prospectus published by the Company on September 30, 2024.