[ET Net News Agency, 15 November 2017] Yixin Group (02858) said its retail offering was
over-subscribed by about 560.22 times and the international offering was very
significantly over-subscribed.
The offer price has been determined at HK$7.7 per share, the upper end of the indicative
price range of HK$6.6 to HK$7.7. The estimated net proceeds amount to about HK$6,503.5
million.
Dealings in shares of Yixin Group are expected to commence tomorrow morning, with a
board lot size of 500 shares each.
Yixin Group operates its business in two segments by leveraging its online platform:
transaction platform business, where it primarily facilitates automobile purchase
transactions by consumers, facilitates auto loans to consumers offered by its auto finance
partners, provides value-added services such as sales of vehicle telematics systems to
auto dealers, and provides advertising and subscription services for automakers, auto
dealers, auto finance partners and insurance companies; and self-operated financing
business, where it primarily provides consumers with auto finance solutions through
financing leases and operating leases. (HL)