TOKYO, Sept. 3, 2018 – – Wainwright Marks Management has commented on the recent Chinese Meituan Dianping company, a platform that provides food delivery on a ticketing basis.
Researches from Wainwright Marks Management have indicated that a price range of between HK$60 to HK$70 per share for its initial public offering which will be offered on the Hong Kong Stock Exchange.
With a significant value of potentially $55 billion and over, it will be the second multibillion-dollar technology company to float this year alongside smartphone provider Xiaomi hitting records of a $5.4 billion float.
“Meituan Dianpings have already been seen as one of China’s most valuable internet technology companies. The company are projected to raise over $4 billion without an additional over allotment option which means additional shares can flood the market depending on its demand.” Commented Head of Corporate Equities, Andrew Miles at Wainwright Marks Management.
Meituan Dianpings are currently discussing a valuation projecting anywhere between $46 billion to $55 billion with the company securing a total of $1.5 billion from five large investors including big companies such as Tencent Holdings who have stated a $400 million holding in the company.
“The company has plans to use this process of an initial public offering to fund and upgrade its technology and develop new products and services according to its published IPO filing.” Reported George Peterson, Director of Private Clients at Wainwright Marks Management.
The company founded only eight years ago by entrepreneur Wang Xing, after its $15 billion merger with Dianping back in 2015, the company has broadened its range of services including food delivery, hotel & travel as well as its taxi ride hailing service.
It comes as a new initiative set by the stock exchange that will benefit with a dual-class structure for its shares as a Hong Kong listed company under the new rules to help bolster and attract new technology companies to the exchange.
SOURCE Wainwright Marks Management