Transaction Overview
Mulsanne Group Holding Limited. (Stock code: 1817.HK) successfully listed on the Hong Kong Stock Exchange on May 27, 2019. CMBI acts as Joint Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager for this IPO.
Mulsanne Group Holding Limited is a leading fashion menswear company based in China. The company operates a new retail platform that focuses on providing customers with a seamless and integrated shopping experience and identifying customers’ needs by integrating offline retail stores with online channels through the support of big data analytics. The company was ranked first in terms of total online retail revenue, which accounted for approximately 5.2% of the total online retail revenue in China and with the highest online penetration rate of 36.0% in China in 2018. The company also accounted for approximately 3.3% of the fashion menswear market share and was ranked second in China in 2018 in terms of total retail revenue.
Mulsanne Group Holding Limited issued 200,000,000 shares (Pre-shoe). The offering price is set at HK$4.39, and the offering amount is approximately HK$0.88 billion (Pre-shoe). CMBI successfully entered into separate US$20 million cornerstone investment agreements with Wanda Investment (Hong Kong) Limited and HK$40 million cornerstone investment agreements with Sasseur Cayman Holding Limited.
The close cooperation among Corporate Finance, Equity Capital Markets, Research Department, Equity Department, Wealth Management Department, Legal & Compliance Department, Operation Department and other departments helps a lot, which lays an important foundation for the final pricing of the deal. In the case of extremely volatile market, this IPO is still welcomed by domestic and foreign investors.
Source: Company Announcement
About Mulsanne Group Holding Limited
Mulsanne Group Holding Limited is a leading fashion menswear company based in China. The company operates a new retail platform that focuses on providing customers with a seamless and integrated shopping experience and identifying customers’ needs by integrating offline retail stores with online channels through the support of big data analytics. The company was ranked first in terms of total online retail revenue, which accounted for approximately 5.2% of the total online retail revenue in China and with the highest online penetration rate of 36.0% in China in 2018. The company also accounted for approximately 3.3% of the fashion menswear market share and was ranked second in China in 2018 in terms of total retail revenue.
Mulsanne Group Holding Limited relies on its new retail business model, which is an integrated omni-channel business model that capitalizes on online and offline strengths, delivers a seamless and consistent customer experience, and increases efficiency in terms of inventory management, supply chain management, product selection and logistics. Moreover, customers become cooperative producers as their needs impact retailers’ product development and innovation. The company first started its business offline in 2007 and expanded into online channels in 2010. Seeing the potential synergies among its two separate channels on customers and products, the company began to rethink and explore the possible integration of the two channels to provide customers with a seamless shopping experience. From 2014, the company allowed customers to pay online with products shipped directly from its offline stores. Furthermore, to ensure the alignment of interests between its online and offline channels, the company gradually established a cloud-based inventory sharing and allocation system from 2016 and synchronized its VIP membership program in 2018. With the data gathered and the big data analytics capabilities the company developed in-house, it started to upgrade offline retail stores to smart stores, build product lifecycle management system and enhance flexible supply chain capabilities in 2018.
Source: Prospectus, Company’s HKEX Deal Announcements
