06936 順豐控股
SF HOLDING
SF HOLDING
| Listing Date | 2024/11/27 Listing in 3 Days |
| Listing Price | -- |
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IPO Detail
COMPANY PROFILE
S.F. Holding Co., Ltd. founded in Shunde, Guangdong Province in 1993, is a leading global integrated logistics service provider. The Group is the largest player in China and Asia, and the fourth largest player globally, in terms of revenue in 2023, according to Frost & Sullivan.
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The Group is a Fortune Global 500 company with market leadership in five logistics sub-segments in China and four in Asia, offering a complete range of logistics services including express, freight, cold chain, intra-city on-demand, supply chain solutions and international logistics services.
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The Group’s business model has three key attributes: direct operations, integrated capabilities, and third-party independence. The Group’s flagship product is time-definite express, in which it commanded a market share of 63.9% in China in 2023, according to report.
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As of June 30, 2024, the Group had an extensive global delivery network covering 202 countries and regions, supported by 99 aircraft and over 186,000 vehicles, the largest air and ground delivery fleet in Asia. The Group had approximately 2.2 million customers with active credit accounts and approximately 699 million retail customers as of June 30, 2024, both of which were the highest among all logistics service providers in Asia.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Transportation |
| Major Business Area | Asia Pacific |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 170.00M H shares |
| No. of International Offer Shares | 153.85M H shares |
| No. of HK Offer Shares | 16.15M H shares |
| Offer Price | $32.30 - $36.30 |
| Stock Code | 6936 |
| Sponsor(s) | Goldman Sachs (Asia) L.L.C., Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan Securities (Far East) Limited |
| Underwriter(s) | Goldman Sachs (Asia) L.L.C., Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan Securities (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited, UBS AG Hong Kong Branch, ABCI Securities Company Limited, BOCI Asia Limited, CMB International Capital Limited, DBS Asia Capital Limited, GF Securities (Hong Kong) Brokerage Limited, ICBC International Securities Limited |
TIME TABLE
| Application Period | Nov 19 (Tue) - noon, Nov 22 (Fri) |
| Price Determination Date | Nov 25 (Mon) |
| Result Announcement Date | On or before Nov 26 (Tue) |
| Result Announcement Date | On or before Nov 26 (Tue) |
| Result Announcement Date | On or before Nov 27 (Wed) |
| Dealings in Shares commence on | Nov 27, 2024. (Wed) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 14X - 47X | 47X - 95X | Over 95X |
| % of total shares reallocated to HK Offer | 14% | 18.5% | 36.5% |
Sales Statistics (HKD)
| Offer Price | $32.30 - $36.30 |
| Capitalization | 161.05B - 181.00B |
| NAV / share ($) | $16.67 - $16.80 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 34.30, the net proceeds raised would be HKD 5.66B, of which |
| 45% : Strengthening international and cross-border logistics capabilities |
| 35% : Strengthening and optimizing logistics network and service offerings in China |
| 10% : Research and development of advanced technologies and digital solutions to upgrade supply chain and logistics services and implement ESG-related initiatives |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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Listing --Offer Price︰--
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).