06610 飛天雲動
FLOWING CLOUD
FLOWING CLOUD
| Listing Date | 2022/10/18 |
| Listing Price | 2.210 |
Subscription Result
- Subscription Rate1.05x
- Guarantee One Lot Size1 lot
- One Lot Success Rate100%
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IPO Detail
COMPANY PROFILE
Flowing Cloud Technology provides AR/VR content and services in China, and the provision of AR/VR marketing services to advertising customers was its largest revenue contributor. According to iResearch, the ranked the first in terms of revenue in the AR/VR content and services market in China, amounting to 2.6% of the market share in 2021.
The Group started shifting its business focus from games business to AR/VR content and services businesses in April 2017 and completed the transition in May 2019. It provides a variety of services in connection with AR/VR, mainly including AR/VR marketing services, AR/VR content, AR/VR SaaS and IP business.
During the period comprising the three years ended December 31, 2021 and the three months ended March 31, 2022, the Group provided AR/VR marketing services to a total of over 50 advertising customers and promoted over 250 advertising products, the majority of which were apps and websites. As of March 31, 2022, the number of AR/VR SaaS registered users reached over 14,000 and the number of its AR/VR SaaS subscribed paying users reached over 2,200.
The Group customers for AR/VR marketing services are mainly advertisers and their agents. Its customers for AR/VR content are mainly companies from various industries, including entertainment, gaming, education, culture and tourism, technology, healthcare and automobiles.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Software & Services |
| Major Business Area | China |
| Board Lot | 1000 |
GLOBAL OFFERING
| No. of Offer Shares | 271.50M shares |
| No. of International Offer Shares | 244.35M shares |
| No. of HK Offer Shares | 27.15M shares |
| Offer Price | $2.21 - $2.88 |
| Stock Code | 6610 |
| Sponsor(s) | Shenwan Hongyuan Capital (H.K.) Limited |
| Underwriter(s) | Shenwan Hongyuan Securities (H.K.) Limited, CLSA Limited, CMB International Capital Limited, DBS Asia Capital Limited, Huatai Financial Holdings (Hong Kong) Limited, ABCI Securities Company Limited, Citrus Securities Limited, Dragonstone Capital Management Limited, Zhongtai International Securities Limited, China Everbright Securities (HK) Limited, West Bull Securities Limited, China Galaxy International Securities (Hong Kong) Co., Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, Livermore Holdings Limited, Valuable Capital Limited, Phillip Securities (Hong Kong) Limited, Zheshang International Financial Holdings Co., Limited |
TIME TABLE
| Application Period | Sep 29 (Thu) - noon, Oct 07 (Fri) |
| Price Determination Date | Oct 10 (Mon) |
| Result Announcement Date | On or before Oct 17 (Mon) |
| Result Announcement Date | On or before Oct 17 (Mon) |
| Dealings in Shares commence on | Oct 18, 2022. (Tue) |
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 | $2.21 - $2.88 |
| Capitalization | 4.00B - 5.21B |
| NAV / share ($) | $0.57 - $0.67 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 2.55, the net proceeds raised would be HKD 620.50M, of which |
| 40% : Enhancing R&D capabilities and improving services and products |
| 25% : Enhancing sales and marketing function |
| 15% : Used for selected mergers, acquisitions, and strategic investments |
| 10% : Development of Feitian Metaverse platform |
| 10% : Working capital |
IPO NEWS
| 18/10/2022 16:08 |
| {New Stock}FLOWING CLOUD(06610) ends down 4.07% at HK$2.12 |
| 18/10/2022 09:20 |
| {New Stock}FLOWING CLOUD(06610) opens flat at HK$2.21 |
| 17/10/2022 18:35 |
| {New Stock}FLOWING CLOUD ends down 4.53% on grey market |
| 17/10/2022 16:20 |
| {New Stock}FLOWING CLOUD down 4.98% at HK$2.1 on grey market |
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).