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LB Select
2023.09.14 07:21
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Hong Kong IPO | Tencent and Leapmotor are cornerstone investors in Tuhu Auto

This year, Tuhu Car Maintenance achieved a turnaround from losses to profits, with adjusted net profit of 214 million yuan.

Tuhu-W (09690) has started its IPO today and will end on September 19th. It plans to issue 40.6171 million shares at an offering price of HKD 28-31 per share, raising over HKD 1.2 billion. The minimum trading unit is 100 shares, and it is expected to be listed on September 26th.

This means that Tuhu Auto Maintenance will soon become the first listed company in the independent aftermarket for automobiles in the Hong Kong stock market.

Basic Overview

As a one-stop car maintenance platform,

Meanwhile, Tuhu Auto Maintenance's gross profit margin in the first half of this year has also increased by 6 percentage points from the same period in 2022 to 24.2%.

Tencent, Leapmotor as cornerstone investors

It is worth mentioning that Tencent, Jia Shi Duo, Leapmotor, Guoxuan High-tech, and Shanghai Zizhu High-tech Zone will participate as cornerstone investors in Tuhu Auto Maintenance's IPO, with a planned cumulative subscription of 100 million US dollars.

Among them, Tencent currently holds 19.61% of Tuhu Auto Maintenance's shares, making it the largest institutional investor.

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