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Global Leading Institutions Took Stakes in Yeahka, Showing Confidence in Its Long-Term Prospects

Global banking and finance news 28

YEAHKA LIMITED, Chinas leading payment and business service technology platform commences trading on the Main Board of The Stock Exchange of Hong Kong Limited on June 1st 2020, under the stock code of 9923. CLSA, Nomura and ABCI are the joint sponsors.

The total number of offer shares under the global offering amounts to 98,724,000 shares, priced at the top of the range at HK$16.64 per share. The shares initially offered under the International Offering have been significantly over-subscribed by approximately 12 times, while the shares initially offered under the Hong Kong Public Offering have been significantly over-subscribed as well. The total number of valid applications was approximately 641 times of the total number of Hong Kong offer shares initially available for subscription under the Hong Kong Public Offering.

Sources from the investment bank said, numerous global leading long-term funds, sovereign wealth funds and well-known strategic investors including Capital Group, Blackrock, Fidelity, China Investment Corporation, Hillhouse and CCBI have actively participated in the subscription of Yeahkas international offering. Recruit Holdings, one of the largest Internet giant in Japan, is the cornerstone investor of the global offering, and Tencent continues to be one of the strategic shareholder of Yeahka.

Adhering the mission of continuously creating value for merchants and consumers, Yeahka provides payment and business services to them. According to Oliver Wyman, Yeahka is the second largest non-bank independent QR code payment service provider in China with approximately 14.0% market share in terms of number of transactions in 2019.

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