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  ·2021-06-23
  They are doing a good job
  China’s Full Truck Climbs in U.S. Debut After $1.6 Billion IPO
  (Bloomberg) -- Full Truck Alliance Co., an Uber-like trucking startup, rose as much as 20% in its tr
  China’s Full Truck Climbs in U.S. Debut After $1.6 Billion IPO
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The shares were up 13% to $21.54 at 2:38 p.m. in New York trading, giving the company a market value of about $23 billion.</p>\n<p>The company -- known as Manbang in Chinese -- is also raising $100 million each from private placements of its shares -- <a href=\"https://laohu8.com/S/AONE.U\">one</a> with the Ontario Teachers’ Pension Plan and the other with an entity affiliated with Abu Dhabi sovereign wealth fund Mubadala Investment Company PJSC, according to its filings with the U.S. Securities and Exchange Commission.</p>\n<p>Full Truck Alliance’s IPO rivals e-cigarette maker RLX Technology Inc.’s January listing, which raised slightly more than $1.6 billion. If its underwriters exercise a so-called greenshoe, or over-allotment option, Full Truck Alliance’s IPO could raise as much as $1.8 billion.</p>\n<p>Full Truck Alliance, which operates a truck-sharing app connecting merchants that need shipping of their goods with truck drivers, follows a buoyant June 11 Nasdaq debut of Kanzhun Ltd., the owner of Chinese online recruitment platform Boss Zhipin.</p>\n<p>IPO Surge</p>\n<p>Kanzhun shares are almost double from its IPO price, underscoring a renewed appetite for listings by Chinese companies after a lull when several put their U.S. listing plans on hold in May. Companies based in China and Hong Kong have raised $10.2 billion in U.S. IPOs so far in 2021 -- more than four times the total last year, according to data compiled by Bloomberg.</p>\n<p>One deal eagerly anticipated by investors is that by China-based ride-hailing giant Didi, which filed this month for a U.S. IPO that could value it at as much as $100 billion, Bloomberg News has reported. Its IPO could be one of the largest listings globally this year.</p>\n<p>Full Truck Alliance, based in Guiyang, the capital of the southwestern Guizhou province, was formed from a merger between China’s two largest truck-sharing platforms -- Huochebang and Yunmanman. Apart from Tencent and SoftBank, Full Truck’s backers include Alphabet Inc.’s CapitalG, Sequoia Capital China, Fidelity International and Jack Ma’s Yunfeng Capital.</p>\n<p>Manbang Losses</p>\n<p>The company posted a loss of $532 million on net revenue of $396 million last year, according to the filings. It said it plans to use the proceeds from its IPO on investing in infrastructure, technology innovation, expanding its service offerings, and for general corporate purposes, including meeting working capital needs and to fund potential acquisitions and investments.</p>\n<p>Full Truck’s offering is being led by <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>, China International Capital Corp. and Goldman Sachs Group Inc. Its ADS, each representing 20 ordinary shares, are trading on the New York Stock Exchange under the symbol YMM.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s Full Truck Climbs in U.S. Debut After $1.6 Billion IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina’s Full Truck Climbs in U.S. Debut After $1.6 Billion IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 07:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/china-full-truck-climbs-u-183941756.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Full Truck Alliance Co., an Uber-like trucking startup, rose as much as 20% in its trading debut after raising $1.6 billion in one of the year’s biggest U.S. initial public offerings by...</p>\n\n<a href=\"https://finance.yahoo.com/news/china-full-truck-climbs-u-183941756.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YMM":"满帮","03086":"华夏纳指","BZ":"BOSS直聘","09086":"华夏纳指-U"},"source_url":"https://finance.yahoo.com/news/china-full-truck-climbs-u-183941756.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2145737065","content_text":"(Bloomberg) -- Full Truck Alliance Co., an Uber-like trucking startup, rose as much as 20% in its trading debut after raising $1.6 billion in one of the year’s biggest U.S. initial public offerings by a Chinese company.\nThe American depositary shares opened at $22.50 Tuesday after the company backed by SoftBank Group Corp. and Tencent Holdings Ltd. sold 82.5 million at the top of the marketed range of $17 to $19. The shares were up 13% to $21.54 at 2:38 p.m. in New York trading, giving the company a market value of about $23 billion.\nThe company -- known as Manbang in Chinese -- is also raising $100 million each from private placements of its shares -- one with the Ontario Teachers’ Pension Plan and the other with an entity affiliated with Abu Dhabi sovereign wealth fund Mubadala Investment Company PJSC, according to its filings with the U.S. Securities and Exchange Commission.\nFull Truck Alliance’s IPO rivals e-cigarette maker RLX Technology Inc.’s January listing, which raised slightly more than $1.6 billion. If its underwriters exercise a so-called greenshoe, or over-allotment option, Full Truck Alliance’s IPO could raise as much as $1.8 billion.\nFull Truck Alliance, which operates a truck-sharing app connecting merchants that need shipping of their goods with truck drivers, follows a buoyant June 11 Nasdaq debut of Kanzhun Ltd., the owner of Chinese online recruitment platform Boss Zhipin.\nIPO Surge\nKanzhun shares are almost double from its IPO price, underscoring a renewed appetite for listings by Chinese companies after a lull when several put their U.S. listing plans on hold in May. Companies based in China and Hong Kong have raised $10.2 billion in U.S. IPOs so far in 2021 -- more than four times the total last year, according to data compiled by Bloomberg.\nOne deal eagerly anticipated by investors is that by China-based ride-hailing giant Didi, which filed this month for a U.S. IPO that could value it at as much as $100 billion, Bloomberg News has reported. Its IPO could be one of the largest listings globally this year.\nFull Truck Alliance, based in Guiyang, the capital of the southwestern Guizhou province, was formed from a merger between China’s two largest truck-sharing platforms -- Huochebang and Yunmanman. Apart from Tencent and SoftBank, Full Truck’s backers include Alphabet Inc.’s CapitalG, Sequoia Capital China, Fidelity International and Jack Ma’s Yunfeng Capital.\nManbang Losses\nThe company posted a loss of $532 million on net revenue of $396 million last year, according to the filings. It said it plans to use the proceeds from its IPO on investing in infrastructure, technology innovation, expanding its service offerings, and for general corporate purposes, including meeting working capital needs and to fund potential acquisitions and investments.\nFull Truck’s offering is being led by Morgan Stanley, China International Capital Corp. and Goldman Sachs Group Inc. Its ADS, each representing 20 ordinary shares, are trading on the New York Stock Exchange under the symbol YMM.","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}