Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD (0700)
Mes dernières consult.
Most popular
  Report  
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Exclusive: China's Meituan-Dianping mulls U.S. IPO of at least $3 billion in 2018 - sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/07/2017 | 11:08am CEST
FILE PHOTO: Illustration photo of the Meituan logo

HONG KONG (Reuters) - China's Meituan-Dianping, an online platform for ordering food and booking movies and restaurants, is considering an initial public offering in the United States as soon as next year, five people with knowledge of the matter told Reuters.

A listing could raise at least $3 billion as the company's investors look to capitalize on the current market bull run, which has taken U.S. stocks to a series of all-time highs.

A deal of that size, representing at least 10 percent of Meituan-Dianping's valuation, would be the largest listing of a Chinese company in the United States since Alibaba's (>> Alibaba Group Holding) record $25 billion float in 2014.

Meituan-Dianping, which offers a broad range of services including movie ticketing, food delivery and beauty services, said last month it had raised $4 billion in fresh funding, valuing the company at $30 billion.

According to CB Insights, a data and analytics provider, that valuation ranked it as the world's fourth-largest "unicorn" - technology start-ups valued at $1 billion or more.

Led by serial entrepreneur Wang Xing, Meituan-Dianping's backers include Tencent, Sequoia Capital Ltd, Singaporean state investors GIC Pte Ltd [GIC.UL] and Temasek, as well as DST Global and Canada Pension Plan Investment Board.

An IPO could take place as early as the first half of 2018, according to one of the people.

Meituan-Dianping has started initial conversations with potential advisors to work on an IPO plan, two of the people said. Plans are still fluid and no bank has been mandated, according to the sources, who declined be named as the discussions were not public.

When contacted by Reuters about its IPO plans, a Meituan-Dianping spokeswoman declined to comment, adding the company's focus is on investing the proceeds of last month's fundraising.

"We are concentrated on implementing various initiatives that will build out our platform and offerings," she said.

An IPO could help bolster Meituan-Dianping's firepower for investments in offline retail and artificial intelligence technology - a strategy that would pitch it directly against China's leading e-commerce heavyweights including Alibaba and JD.com Inc (>> JD.com).

Going public would also require the company to disclose its financials and strategy at a point when many of its competitors are still privately held.

These include Alibaba's food delivery unit Ele.me and ride-hailing champion Didi Chuxing. Earlier this year Meituan-Dianping began to challenge Didi by offering ride-hailing services.

Meituan-Dianping was formed in 2015 from the $15 billion merger of Groupon-like Meituan and Yelp-like Dianping. It now has 280 million users and serves as a platform for roughly 5 million businesses.

"The listing plans are more driven by the investors as several of them look to cash out after years of investments. But the company isn't in a rush to go public as it doesn't lack capital for development," said one of the sources.

In July, Meituan-Dianping's vice-president of strategy Chen Shaohui told Reuters the firm would not consider an IPO until it had established infrastructure for services including offline retail, and that it had roughly $3 billion in cash reserves.

Both Alibaba and JD.com have championed a shift into offline stores in recent years, spurred by developments in cloud computing and big data technology.

(Reporting by Kane Wu and Julie Zhu; Editing by Jennifer Hughes and Lincoln Feast)

By Kane Wu and Julie Zhu

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.26% 179.11 Delayed Quote.3.87%
JD.COM -3.75% 37.44 Delayed Quote.-9.61%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TENCENT HOLDINGS LTD
04/20HSI opens down 60 pts to 30,647; H-share -49 pts to 12,190
AQ
04/20Leshi TV unit gets new lease on life
AQ
04/20Leshi TV unit gets new lease on life
AQ
04/20Leshi TV unit gets new lease on life
AQ
04/19TENCENT : Healthcare M&A Deal Value Surged to $332 Billion in 2017, Driven by Me..
AQ
04/19HSI opens up 248 pts to 30,532; H-share up 119 pts to 12,105
AQ
04/19Potential ad sales revenue huge for Tencent
AQ
04/19Potential ad sales revenue huge for Tencent
AQ
04/19Top 10 influential Chinese business leaders in 2018
AQ
04/19Top 10 influential Chinese business leaders in 2018
AQ
More news
News from SeekingAlpha
04/16Is Alibaba A Better Buy Than Tencent? 
04/14VENTURE CAPITAL DEALS OF THE WEEK : Tencent Led $3B Investment 
04/13Buying Opportunities In The Internet Industry With Huge Discounts 
04/13Despite Tesla's Statements To The Contrary, A Capital Raise Is Coming Soon 
04/12TESLA : Dispelling Misconceptions 
Financials ( CNY)
Sales 2018 337 B
EBIT 2018 100 B
Net income 2018 80 451 M
Finance 2018 101 B
Yield 2018 0,28%
P/E ratio 2018 37,61
P/E ratio 2019 28,58
EV / Sales 2018 8,72x
EV / Sales 2019 6,30x
Capitalization 3 042 B
Chart TENCENT HOLDINGS LTD
Duration : Period :
Tencent Holdings Ltd Technical Analysis Chart | 0700 | KYG875721634 | 4-Traders
Technical analysis trends TENCENT HOLDINGS LTD
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 38
Average target price 420  CNY
Spread / Average Target 31%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Zhi Dong Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LTD-2.16%490 236
NETFLIX70.75%145 164
NASPERS LIMITED-13.29%111 624
WEIBO CORP (ADR)15.11%26 188
COSTAR GROUP INC26.93%13 634
IAC/INTERACTIVECORP34.53%13 563