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06909 百得利控股
BetterLife Holding
Listing Date2021/07/15
Listing Price4.400
 
Quote
Subscription Result
  • Subscription Rate
    43.92x
  • Guarantee One Lot Size
    20 lot
  • One Lot Success Rate
    18%
COMPANY PROFILE

BetterLife is an automobile dealership service provider in China focusing on luxury and ultra-luxury brands. It ranked sixth among all ultra-luxury brand automobile dealership service providers in China as measured by revenue generated for the year ended December 31, 2020 with a market share of approximately 4.0%, according to the Frost & Sullivan Report.

The Group operated 12 4S dealership stores for the brands of Porsche, Audi, Mercedes-Benz, Bentley, Volvo and Jaguar-Land Rover across six provinces and municipalities in China, namely Beijing, Tianjin, Shandong, Sichuan, Zhejiang and Guangdong.

BetterLife is an automobile dealership service provider in China focusing on luxury and ultra-luxury brands. It ranked sixth among all ultra-luxury brand automobile dealership service providers in China as measured by revenue generated for the year ended December 31, 2020 with a market share of approximately 4.0%, according to the Frost & Sullivan Report. The Group operated 12 4S dealership stores for the brands of Porsche, Audi, Mercedes-Benz, Bentley, Volvo and Jaguar-Land Rover across six provinces and municipalities in China, namely Beijing, Tianjin, Shandong, Sichuan, Zhejiang and Guangdong. The Group offers a comprehensive range of automobile-related products and services, including sale of automobiles consisting of imported and domestically manufactured petroleum models. For the years ended December 31, 2018, 2019 and 2020, it sold a total of 14,113, 13,233 and 13,480 automobiles, respectively, among which approximately 60%, 58.4% and 55.7% were imported models, and approximately 40.0%, 41.6% and 44.3% were domestically manufactured models.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureAutomobiles
Major Business AreaChina
Websitewww.blchina.com
Board Lot1000
GLOBAL OFFERING
No. of Offer Shares150m shares
No. of International Offer Shares135m shares
No. of HK Offer Shares15.00m shares
Offer Price$4.00 - $4.80
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
Stock Code6909
Sponsor(s)Macquarie Capital Limited
Underwriter(s)BOCOM International Securities Limited; DBS Asia Capital Limited; First Shanghai Securities Limited; Futu Securities International (Hong Kong) Limited; Huajin Securities (International) Limited; Huatai Financial Holdings (Hong Kong) Limited; Macquarie Capital Limited; Maxa Capital Limited; Valuable Capital Limited; UOB Kay Hian (Hong Kong) Limited; uSmart Securities Limited
TIME TABLE
Application PeriodJun 30 (Wed) - Noon, Jul 8 (Thu)
Price Determination DateOn or Before 5pm, Jul 8 (Thu)
Result Announcement DateOn or Before Jul 14 (Wed)
Dispatch of Shares and Refund ChequesOn or Before Jul 14 (Wed)
Dealings in Shares commence onJul 15, 2021. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveChou Hsiao Po Patrick (Chairman), Sun Jing, Wei Hongjing, Chau Kwok Keung
Independent Non-ExecutiveLiu Dengqing, Wong Ka Kit, Yau Ka Chi
MAJOR SHAREHOLDERS
Chou Hsiao Po Patrick75.00%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
202020192018
Revenue8,533,1308,178,7818,409,178
Gross Profit863,613782,198825,196
Pre-Taxed Profit420,212330,204426,958
Attributable Profit for the period234,984159,857206,951
OFFER STATISTICS (HK$)
Offer Price$4.00 - $4.80
Capitalization$2,400m - $2,880m
Unaudited pro forma adj NAV / share$2.56 - $2.77
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $4.40, the net proceeds raised would be HK$627.4m, of which:
* $470.6m (75.0%) use for expanding its dealership store network through organic growth and, if suitable opportunities arise, through selective acquisitions;
* $62.7m (10.0%) use for the renovation of its existing 4S dealership stores ;
* $31.4m (5.0%) use fo optimize and upgrade its information technology systems ;
* the balance of $62.7m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00881ZHONGSHENG HLDGup69.4005.6508.863%
01268MEIDONG AUTOup43.4003.0507.559%
01293GRAND BAOXINup0.9700.12014.118%
01365RUNDONG AUTOunchange0.3000.0000.000%
01728ZHENGTONGAUTOup1.0000.0505.263%
01771SUNFONDA GPup2.5500.1707.143%
01959CENT UNIT HLDGup0.7800.0101.299%
03669YONGDA AUTOup12.2400.6805.882%
03836HARMONY AUTOup4.2100.0801.937%
06909BETTERLIFE HLDGup6.6800.4707.568%
15-min delayed, last updated: 15/10/2021 17:59
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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