Company News - 21 November 2018

AMTD completes leading automotive marketplace TuanChe US IPO

On 20th November 2018 (EST), TuanChe Limited (“TuanChe” or the “Company”) (NASDAQ: TC), a leading omni-channel automotive marketplace in China, was officially listed on Nasdaq Capital Market. AMTD acted as the Joint Bookrunner of this offering, contributed high-quality institutional orders and large-scale individual orders and assisted TuanChe in completing the IPO. This transaction also made the 3rd US IPO deal completed by AMTD right after X Financial (NYSE:XYF) and Weidai (NYSE:WEI), and another successful landmark transaction for AMTD in assisting new economy company to list on the international capital markets after completing the IPO deals under Weighted Voting Rights (WVR) structure for leading new economy companies including Xiaomi and Meituan. This is the 10th IPO issuance of AMTD in 2018.

TuanChe Limited (“TuanChe” or the “Company”) (NASDAQ: TC), a leading omni-channel automotive marketplace in China, was officially listed on Nasdaq Capital Market with AMTD acting as the Lead Bank and Lead Joint Bookrunner

Founded in 2010, TuanChe is a leading omni-channel automotive marketplace in China, ranking third in terms of both volume and GMV of new automobiles sold in 2017. The Company integrates its online platforms with offline sales events, and thus connects automotive customers with various industry players such as automakers, dealers and other automotive service providers. Its offline events have covered hundreds of cities in 30 provinces, autonomous regions and municipalities across China, and the Company has established long-term and stable cooperative relations with tens of thousands of dealers at home and abroad. The Company expects to host more than 800 offline events in 2018. Since its inception, TuanChe has helped 800,000 users to purchase cars, and the GMV exceed RMB 120 billion.

TuanChe issued 2.6 million American Depositary Shares, or ADSs, in this offering. Each ADS represents four Class A ordinary share. The initial public offering price per ADS is US$7.8. The Company raised US$20.28 million in total.

Emily Shi, Head of Capital Markets & Advisory of AMTD Group(first left) and Ming Lin, Head of Advisory and Special Situations of AMTD Group (first right) took a photo with Zhihai Mao, CFO of TuanChe

AMTD has always attached great importance to technological innovation and its transformative power. The Group is committed to undertaking the “super-connector” role between the fields of technology and capital and between the leading FinTech companies, internet tech companies and Asian capital. Since 2016, AMTD has acted as joint underwriter to help various new economy companies successfully complete their IPO in Hong Kong and the US, including Xiaomi, the unique and comprehensive company that covers e-commerce, hardware and internet and the first WVR stock in Hong Kong capital markets; Meituan Dianping, China's largest life service e-commerce platform and the second WVR stock in Hong Kong capital markets; Meitu, the pioneer of tech IPO in Hong Kong’s capital market in a decade; 7Road, China’s leading web game developer; X Financial, China’s leading FinTech company and Weidai, China’s largest auto-backed FinTech platform.