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2021-06-16

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China's Full Truck Alliance targets over US$20 billion valuation in US IPO

REUTERS -China's Full Truck Alliance Co Ltd (FTA) said on Tuesday it is aiming for a valuation of over US$20 billion in its initial public offering in the United States, marking the second major U.S. stock market listing for a Chinese company this year. FTA, which styles itself as the "Uber for ...

China's Full Truck Alliance targets over US$20 billion valuation in US IPO

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Each ADS represents 20 Class A ordinary shares.</p> \n<p>The top end of that range would mean the company could raise as much as US$1.57 billion from the IPO. Chinese vaping firm RLX Technology Inc raised US$1.4 billion in its U.S. IPO in January.</p> \n<p>The listing plans come despite the U.S. having introduced measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the country's auditing standards.</p> \n<p>Dealmakers say Chinese firms carrying out U.S. listings believe they will be able to comply with the rules and can also complete a secondary listing in Hong Kong or Shanghai within that time frame.</p> \n<p>FTA, formed out of a merger in 2017 between two digital freight platforms Yunmanman and Huochebang, is led by Chief Executive Officer Peter Hui Zhang. Zhang was earlier the regional manager of the business-to-business unit of e-commerce behemoth Alibaba Group Holding Ltd.</p> \n<p>In November, FTA was valued at nearly US$12 billion after a US$1.7 billion investment, Reuters reported. That investment round was led by Japanese conglomerate SoftBank's Vision Fund, Sequoia Capital, Permira Capital and Fidelity.</p> \n<p>China's Tencent Holdings Ltd is also <a href=\"https://laohu8.com/S/AONE\">one</a> of the company's backers.</p> \n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>, CICC and Goldman Sachs are among the underwriters. The company will list on the New York Stock Exchange under the symbol \"YMM\".</p>","source":"can_highlight","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 Alliance targets over US$20 billion valuation in US 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 Alliance targets over US$20 billion valuation in US IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 15:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.channelnewsasia.com/news/business/china-s-full-truck-alliance-targets-over-us-20-billion-valuation-in-us-ipo-15021758><strong>CNA</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>REUTERS -China's Full Truck Alliance Co Ltd (FTA) said on Tuesday it is aiming for a valuation of over US$20 billion in its initial public offering in the United States, marking the second major U.S. ...</p>\n\n<a href=\"https://www.channelnewsasia.com/news/business/china-s-full-truck-alliance-targets-over-us-20-billion-valuation-in-us-ipo-15021758\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","YMM":"满帮"},"source_url":"https://www.channelnewsasia.com/news/business/china-s-full-truck-alliance-targets-over-us-20-billion-valuation-in-us-ipo-15021758","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143271764","content_text":"REUTERS -China's Full Truck Alliance Co Ltd (FTA) said on Tuesday it is aiming for a valuation of over US$20 billion in its initial public offering in the United States, marking the second major U.S. stock market listing for a Chinese company this year.\nFTA, which styles itself as the \"Uber for trucks\", said it is offering 82.5 million American Depositary Shares (ADS) at a range between US$17 and US$19 per ADS. Each ADS represents 20 Class A ordinary shares.\nThe top end of that range would mean the company could raise as much as US$1.57 billion from the IPO. Chinese vaping firm RLX Technology Inc raised US$1.4 billion in its U.S. IPO in January.\nThe listing plans come despite the U.S. having introduced measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the country's auditing standards.\nDealmakers say Chinese firms carrying out U.S. listings believe they will be able to comply with the rules and can also complete a secondary listing in Hong Kong or Shanghai within that time frame.\nFTA, formed out of a merger in 2017 between two digital freight platforms Yunmanman and Huochebang, is led by Chief Executive Officer Peter Hui Zhang. Zhang was earlier the regional manager of the business-to-business unit of e-commerce behemoth Alibaba Group Holding Ltd.\nIn November, FTA was valued at nearly US$12 billion after a US$1.7 billion investment, Reuters reported. That investment round was led by Japanese conglomerate SoftBank's Vision Fund, Sequoia Capital, Permira Capital and Fidelity.\nChina's Tencent Holdings Ltd is also one of the company's backers.\nMorgan Stanley, CICC and Goldman Sachs are among the underwriters. 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