On March 18, Capital State learned that Bilibili-SW (09626.HK) announced on the Hong Kong Stock Exchange that it will offer shares from March 18 to March 23, 2021, and will issue 25 million shares. Among them, 97% are international offerings, 3% are public offerings, and there is no more than 15% over-allotment rights. The offer price ceiling is 988 Hong Kong dollars, and based on the ceiling price, the maximum amount of funds raised at Station B is 24.7 billion Hong Kong dollars. Based on a lot of 20 shares, the admission fee for one lot of Bilibili is 19,959 Hong Kong dollars.
Station B is an iconic brand and leading video community for the younger generation of China. The data shows that the revenue of station B is growing rapidly, but it is still at a loss.
From 2018 to 2020, the operating income of station B will be RMB 4.129 billion, RMB 6.778 billion and RMB 12 billion respectively. Station B said that this is mainly because the company’s high-quality content has promoted the growth of large members, the growth of mobile game business, the diversified development of other value-added services, and the growth of advertising revenue. With strong revenue growth, the gross profit margin of station B increased from 20.7% in 2018 to 23.7% in 2020, mainly due to the improvement in operating efficiency and the decrease in the percentage of revenue from platform costs such as servers and bandwidth.
The net losses during the period were 565 million yuan, 1.304 billion yuan and 3.054 billion yuan respectively.
Station B intends to use the net proceeds from the global offering for high-quality content investment, independent technology development and innovation, sales and marketing, as well as general corporate purposes and operating capital needs, so as to support healthy and high-quality growth in the community.
Station B is expected to be listed on March 29, 2021.
article links：Hong Kong stocks IPO | B station IPO starting today
Reprint indicated source：Spark Global Limited information