China 3-Year-Old E-Commerce Pinduoduo Files IPO in United States at $20 Billion Valuation

China 3-Year-Old E-Commerce Pinduoduo Files IPO in United States at $20 Billion Valuation

One of China’s fastest growing e-commerce Pinduoduo has filed for IPO on NASDAQ (United States) that could value the 3-year-old company at more than $20 billion.  It is expected to announce pricing terms in the week of 23rd July 2018, raising up to $1.63 billion in the IPO.

” China 3-Year-Old E-Commerce Pinduoduo Plans IPO in United States at $20 Billion Valuation “

Pinduoduo was founded in 2015 by ex-Google engineer Colin Huang.   The 3-year-old e-commerce company allows consumers to form groups to get higher discounts from sellers & merchants.  In March 2018, it reported 103 million active monthly users on its mobile app, gross merchandise volume of $14.74 billion (CNY 100 billion) and revenue of $462 million for the 12 months period from April 2017 to March 2018.  It is now China’s 3rd largest e-commerce company behind the 2 largest players, Alibaba and JD.com.

The key shareholders of Pinduoduo includes Tencent Holding and Sequoia Capital.  The IPO is expected to make Colin Huang a billionaire with shares (50.7%) worth more than $10 billion in value if the company is listed at $20 billion market valuation.

Credit Suisse, Goldman Sachs (Asia), CICC and China Renaissance are the joint bookrunners on the deal.

Source: NASDAQ, Renaissance Capital, Reuters, Financial Times

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Hong Kong Billionaire Henry Cheng & Family Buys Irish Plane Lessor for $2.8 Billion

Hong Kong Billionaire Henry Cheng & Family Buys Irish Plane Lessor for $2.8 Billion

Hong Kong billionaire and business tycoon Henry Cheng & family, has acquired Irish plane-lessor Sky Aviation Leasing for $2.8 billion through its subsidiary Goshawk Aviation.  Goshawk Aviation is owned by 2 of Hong Kong’s largest business conglomerates and public-listed companies, Chow Tai Fook (best known for its jewellery business) and NWS Holdings.

” Hong Kong Billionaire Henry Cheng Buys Irish Plane Lessor for $2.8 Billion “

The acquisition of Irish plane-lessor Sky Aviation Leasing, will add 51 planes to Goshawk Aviation to form a total fleet of 183 planes.  The total value of the fleet will be $9.1 billion, and will set Goshawk Aviation to become a top 10 aircraft lessor in 5 years.  Sky Aviation Leasing is owned by Canadian pension fund, the Public Sector Pension Investment Board and private-equity firm ATL Partners.  The transaction is financed through unsecured debt financing and funds from Goshawk main shareholders Chow Tai Fook and NWS Holdings.

Goshawk Aviation is founded in 2013 as a full-service aircraft leasing platform.  It is headquartered in Dublin, Ireland with an Asian regional office in Hong Kong.  The shareholders are public-listed companies in Hong Kong, Chow Tai Fook Enterprises Limited and NWS Holdings Limited.  Both companies are owned by the late Dato’ Dr. Cheng Yu Tung (1925-2016) and family, and now headed by his eldest son, Henry Cheng.

In 2016,  the late Dato’ Dr. Cheng Yu Tung (1925-2016) has an estimated personal net worth of more than $16 billion, and is one of Hong Kong’s wealthiest and most successful businessman.  New World Development Company and NWS Holdings are founded by his eldest son, Henry Cheng, and is estimated to have a net worth of more than $16 billion.

  • Chow Tai Fook (Market Cap $10.52 billion) is owned by the late Dato’ Dr. Cheng Yu Tung and family.
  • Chow Tai Fook is also the controlling shareholder of New World Development Company (Market Cap $14.24 billion), a listed conglomerate in Hong Kong.
  • NWS Holdings (Market Cap $6.84 billion) is the infrastructure and service flagship business of New World Development Company, and is also listed in Hong Kong.

Source: GoshawkBloomberg, The Irish Times

 

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

JD.com Finance Arm Raises $1.95 Billion at $20 Billion Valuation 

JD.com Finance Arm Raises $1.95 Billion at $20 Billion Valuation

The finance arm of China leading e-commerce company JD.com, JD Finance, has raised $1.95 billion (CNY 13 billion).  The funding of $1.95 billion raised will value the company at nearly $20 billion (CNY 133 billion).

” JD.com Finance Arm Raises $1.95 Billion at $20 Billion Valuation “

In 2017, the finance arm of JD.com was separated to form JD Finance.  JD Finance products includes consumer credit and wealth management products, and currently served 8 million small businesses and 400 million individuals.

In China, JD Finance is competing with the world’s largest fintech company, Alibaba spin-off, Ant Financial, which owns Alipay.  JD.com is China’s leading one-stop e-commerce platform, providing 301.8 million active customers.  In 2014, JD.com became publicly listed on NASDAQ with a market value of more than $26 billion.  The company was founded in 2004 in Beijing by CEO, Richard Liu who has an estimated net worth of around $10 billion.

Investors in JD Finance $1.95 billion round includes China’s leading private equity firms CICC Capital, China Securities, Citic Capital and Bank of China Group Investment (BOCGI).

Source: ReutersBloombergXinhua

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Co-Creater of Spiderman and Doctor Strange Stephen Ditko Has Died at Age 90

Co-Creater of Spiderman and Doctor Strange Stephen Ditko Has Died at Age 90

The co-creater of the popular Marvel Comics superheroes “Spiderman” and “Doctor Strange” Stephen Ditko, has died at the age of 90 (1927-2018).  He was found dead in his Manhattan apartment in New York on the 29th June 2018.  Stephen Ditko is known as one of the greatest talents in comic book history.  For many decades, he lead a private life and was nowhere to be found.

” Co-Creater of Spiderman and Doctor Strange Stephen Ditko Has Died at Age 90 “

Stephen Ditko was born in 1927 in Pennsylvania in the United States.  During his U.S Army service (after World War II), he drew comics for the Army newsletter.  After his service, he understudied Batman artist, Jerry Robinson.  In 1954, he joined Charlton Comics, and thereafter Atlas/Marvel where he and Stan Lee (ex-Marvel Comics editor-in-chief and Chairman Emeritus) introduced the Amazing Spider-Man and Peter Park (in human form) in 1962.  He also re-designed Iron Man into the red-and-gold design, transformed the way Bruce Banner turns into the (incredible) Hulk and created the Master of the Mystic Arts, Doctor Strange in 1963.

Marvel Entertainment which owns characters including Spiderman, Doctor Strange, X-Men and Fantastic 4, was acquired in 2009 for more than $4 billion by The Walt Disney Company.  The Walt Disney Company is one of the world’s leading producers and providers of entertainment and information, and owns the world’s most recognisable media brands including Disney Channel, ABC, ESPN, PIXAR, Lucasfilm and Marvel Studio.

The Walt Disney Company was founded by Walt Disney (1901-1966) in 1923.  After creating the short and silent film “Alice in Wonderland” in a company (Laugh-O-Gram Studio) that was going bankrupt in 1923, he founded Disney Brothers Studio‍ with his brother to continue the work.  In 1928, he found success in 1928 with the creation of “Mickey Mouse” and thereafter Snow White & Seven Dwarfs, Pinocchio, Fantasia, Cinderella and many others.  In 1955, he opened the amusement park, Disneyland.  Today, the company has a market value of more than $150 billion (July 2018).

Source: CNNMarvelNY PostThe Walt Disney CompanyLA Times

 

Video:

 

Video:

 

Video:

 

Video:

 

Video:

 

Video:

 

Video:


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Tencent Music Plans IPO in United States at More than $25 Billion Valuation

Tencent Music Plans IPO in United States at More than $25 Billion Valuation

Tencent Music, a business unit of China technology giant Tencent Holdings, is planning an IPO in the United States that is expected to value the music business at more than $25 billion.  The filing was made to the Hong Kong Stock Exchange (HKSE) on 8th July 2018, which will be spin-off from Tencent Holdings (listed on HKSE).

” Tencent Music Plans IPO in United States at More than $25 Billion Valuation “

Tencent Music Entertainment Group, is a leading online music entertainment platform in China and is a business subsidiary of spin-off from Tencent Holdings.  In December 2017, the world’s largest music streaming company Spotify, took a 9% equity stake in Tencent Music, and Tencent taking a 7.5% equity stake in Spotify.  In April 2018, Spotify went public in United States at more than $26 billion market value.  Spotify was founded by Daniel Ek and Martin Lorentzon and was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers (April 2018).  After the IPO, both founders Daniel Ek and Martin Lorentzon became billionaires with net worth of more than $2 billion & $1 billion respectively.

Tencent was founded in Shenzhen, China in November 1998 by 5 founders, Ma Huateng (Pony Ma), Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing.  It is one of the world’s largest technology company with a market value of more than $500 billion (July 2018) while Tencent CEO Ma Huateng (Pony Ma) is one of the world’s richest man with more than $40 billion personal net worth.

Tencent is a leading provider of Internet value added services in China.  It has more than 1.04 billion users on its social messaging platforms, Weixin and WeChat and 805 million users its QQ platform.  On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.

Source: ReutersSCMPTencent FilingTWI

 

Video:

 

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

New McLaren 600LT Coupé Launched and Priced at $244,000

New McLaren 600LT Coupé Launched and Priced at $244,000

McLaren has released the McLaren 600LT Coupé priced at $244,000 (£185,500).  The McLaren 600LT is only the 4th fourth McLaren to have the ‘Longtail’ name.

” New McLaren 600LT Coupé Launched and Priced at $244,000 “

The ‘Longtail’ of the McLaren F1 GTR made its debut during the 1997 season.  The McLaren F1 GTR ‘Longtail’ took victory in five of the 11 rounds of the 1997 FIA GT Championship and finished 1st and 2nd in the GT1 class at the 24 Hours of Le Mans. The nearest opposition was almost 30 laps behind.  Only 9 examples and the development prototype were built.

The McLaren 600LT  has a 3.8-litre V8 engine with peak power at 600PS (592bhp) and maximum torque of 620Nm (457lb ft).  Volume of the new McLaren LT will also be strictly limited and production of the 600LT Coupé will begin in October 2018 and last for around 12 months.  Like its 675LT predecessors, each 600LT will be hand-assembled at the McLaren Production Centre in Woking, Surrey. It is available to order at McLaren retailers with a price tag of $244,000 (£185,500), and includes a Pure McLaren Road Owner Track Day at a race circuit, with expert driving tuition.

McLaren Automotive is a creator of luxury, high-performance sportscars and supercars.  The company, launched in 2010, is now the largest part of the McLaren Group.  Every vehicle is hand-assembled at the McLaren Production Centre (MPC) in Woking, Surrey, England.  The company has three defined product families: Sports Series, Super Series and Ultimate Series which are retailed through over 80 retailers in 30 markets around the world.

Source: McLaren

 

Video:

 

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly to present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Co-Founder of Casio and G-Shock Watch Kazuo Kashio Dies at Age 89 from Pneumonia

C0-Founder of Casio and G-Shock Watch Kazuo Kashio Dies at Age 89 from Pneumonia

Co-Founder of Casio Computer and G-Shock Watch Kazuo Kashio, had died of aspiration pneumonia at the age of 89 on the 18th June 2018 at a hospital in Tokyo.  Kazuo Kashio is the 3rd President and current Chairman & CEO of Casio Computer.

” Founder of Casio and G-Shock Watcher Kazuo Kashio Dies at Age 89 from Pneumonia “

Born in 1929, Kazuo Kashio (age 89, 1929-2018) was the 3rd of four Kashio brothers who founded Casio in 1957 by developing the world’s first compact all-electric calculator,  Casio 14-A.  In 1972, he led the development team and introduced the personal calculator Casio Mini. In 1983, he released the internationally recognized brand G-SHOCK wristwatches, which turned out its 100 millionth edition in August 2018.  Kazuo Kashio was one of the early pioneers into digital camera, with the launch of digital camera QV-10 in 1995.

Kazuo Kashio was the 3rd president succeeding his brother, the late 2nd President and founder, Kashio Tadao in 1988.  Kashio Tadao had set up his own business called Kashio Seisakujo, a small subcontractor factory that made microscope parts and gears in 1947. After years of product development, he was joined by his younger brothers Toshio, Kazuo, and Yukio.  They successfully developed the world’s first compact all-electric calculator – Casio 14-A, and registered the company in 1957 after signing a contract with Uchida Yoko as the exclusive dealer.  The brothers asked their father, Shigeru to be the first President.

Today, Casio Computer is one of the most recognisable consumer electronic brand in calculators, electronic dictionaries, digital cameras and watches.  It is listed on the Tokyo Stock Exchange with a market value of $4.13 billion (JPY 459 billion, 3/7/18).  In 2017, it reported annual revenue of $2.84 billion (JPY 315 billion) and net profit of $180 million in 2017.

Source: CasioJapan Times, The Washington Post

 

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly to present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

World Largest Mobile Telco Tower Operator China Tower to Raise $10 Billion in Hong Kong IPO

World Largest Mobile Telco Tower Operator China Tower to Raise $10 Billion in Hong Kong IPO

The world’s largest mobile telecommunication tower operator China Tower, is raising $8 billion to $10 billion in Hong Kong IPO.  The IPO will value the company in the range of $40 billion, and will be one of the largest capital raised on the Hong Kong Stock Exchange.

” World Largest Mobile Telco Tower Operator China Tower to Raise $10 Billion in Hong Kong IPO “

  • Agricultural Bank of China – 7th July 2010 and raised $19.22 billion (Greenshoe $22 billion)
  • Industrial and Commercial Bank of China – 20th October 2006 and raised $19.09 billion
  • AIA – 21st October 2010 and raised $17.82 billion

China Tower was formed in 2014 with the merger of China Mobile, China Telecom and China Unicom in 2014.  It is the world’s largest telecommunications tower infrastructure service provider, operating and managing 1,872,154 sites and served 2,687,475 tenants.  In 2017, the company have a market share of around 96.3% in China (number of sites in the PRC telecommunications tower infrastructure market).  In 2017, China Tower reported operating revenue of $10.2 billion (CNY 68.66 billion) and operating profit of $1.156 billion (CNY 7.71 billion).

The company major shareholders are China Mobile (38%), Unicom (28.1%) and China Telecom (27.8% stake).  China International Capital Corp and Goldman Sachs are joint sponsors for the IPO.

Source: Hong Kong ExchangeReuters, Bloomberg

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Chinese Online Travel Tongcheng-eLong Files for IPO in Hong Kong 

Chinese Online Travel Tongcheng-eLong Files for IPO in Hong Kong 

Chinese online travel service provider Tongcheng-eLong backed by Tencent and Ctrip.com, has filed for IPO in Hong Kong.  It is expected to raise between $1 billion to $1.5 billion in the IPO.

“Chinese Online Travel Tongcheng-eLong Files for IPO in Hong Kong”

The Tongcheng-eLong platform provides travel services, such as transportation ticketing, accommodation reservation and other value-added products. In 2017, it had 121.2 million monthly active users, revenue of  $385 million (CNY 2.5 billion) and net profit of $30 million (CNY 194 million).

Tongcheng-eLong is formed in December 2017 through a merger of Tongcheng and eLong, founded in 2004 and 1999 respectively.  In 2016, ELong with major investors including Expedia, was delisted on Nasdaq by Ctrip and Tencent.

In the IPO filing, the 2 biggest shareholders in Tongcheng-eLong are Tencent Holdings (24.92%), one of China’s largest technology company and Ctrip (22.88%), the largest online travel company in China and second largest in the world after USA-based Booking Holdings.

James Liang, co-founder and Executive Chairman of Ctrip and Zhixiang Wu, co-founder and President & CEO of Tongcheng Tourism serve as co-chairmen of Tongcheng-eLong.  Heping Ma, co-founder of Tongcheng Tourism & President of Tongcheng Network and Hao Jiang, CEO of eLong are joint CEOs in Tongcheng-eLong.

Source: Hong Kong ExchangeBooking, Forbes, Forbes, Ctrip.com

 

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

Meituan-Dianping Files for IPO in Hong Kong with Target Market Value Around $60 Billion

Meituan-Dianping Files for IPO in Hong Kong with Target Market Value Around $60 Billion

China’s leading e-commerce platform for services Meituan-Dianping has filed for IPO in Hong Kong, expecting to raise a few billion in capital with a target market value of around $60 billion.

” Meituan-Dianping Files for IPO in Hong Kong with Target Market Value Around $60 Billion “

Meituan-Dianping was formed in 2015 through the merger of Meituan.com and Dianping.com, founded in 2003 and 2010 respectively.  Meituan was founded by Wang Xing in 2010, and is the co-founder, CEO and Chairman of the board of Meituan-Dianpin.

Wang Xing’s share in Meituan-Dianping (through Crown Holdings (9.7705%) and Shared Patience (1.66%) represents more than 11.43% of the company, giving him a share value of $6.85 billion at $60 billion market value.  Dianping founder Mu Rongjun has a 2.51% total direct and indirect interests with share value of $1.5 billion through direct ownership in Share Vision (0.14%) and Charmway Enterprises (2.36%), a trust for family and himself.  Other major investors include China’s technology giant Tencent, more than 19.3% interests via Tencent Huai River Investment (12.44%) Tencent Mobility Limited 6.86%) and Sequoia Capital (4.06%).

Meituan-Dianping is China’s leading e-commerce platform for services, providing services including movie ticketing, food delivery, restaurant bookings, beauty services, travel and luxury goods.  In 2017, the platform generated over 5.8 billion transactions, totaling $54.63 billion (CNY 357 billion) in gross transaction volume,  310 million transacting users and 4.4 million active merchants in over 2,800 cities and counties across China.  In 2017, it reported $5.19 billion (CNY 33.9 billion) revenue.  In April 2018, its subsidiary Tollan Holdings acquired Mobile for $2.7 billion.

 Bank of America Merrill Lynch, Goldman Sachs  and Morgan Stanley are joint sponsors for the IPO.

Source: HKSE, Reuters, Bloomberg , Techcrunch

 

 

Video:

 

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency