CMBI acted as Joint Bookrunner and Joint Lead Manager for the Hong Kong IPO of Maoyan Entertainment (1896.HK)

Transaction Overview

Maoyan Entertainment (Stock code: 1896.HK) successfully listed on the Hong Kong Stock Exchange on February 4, 2019. CMBI acted as Joint Bookrunner and Joint Lead Manager for this IPO.

Maoyan Entertainment is a leading platform providing innovative Internet-empowered entertainment services in China, offering online entertainment ticketing services, entertainment content services, e-commerce services and advertising services and others. Maoyan Entertainment issued 132,377,000 shares (100% new shares, 12.05% of enlarged share capital, Pre-shoe). The offering price was set at HK$14.80, and the offering amount was approximately US$ 250 million (Pre-shoe).

Though the deal was launched under extremely volatile market environment, the offering was still highly over-subscribed. The investment from cornerstone investors, including IMAX Hong Kong, Hylink Investment, Prestige of the Sun, Welight Capital and Green Better, represented approximately 12.05% of the total offer size. The comprehensive investor network of CMB and CMBI, as well as the close cooperation among Corporate Finance, Equity Capital Markets, Asset Management Department, Equity Department, Wealth Management Department, Legal & Compliance Department, Operation Department and other departments have significantly contributed to secure the investment from multiple prestigious institutional investors, which laid an important foundation for the final pricing of the deal. In addition, CMBI’s contribution was highly recognized by the Company during this IPO.

Source: Company Announcement

About Maoyan Entertainment

Maoyan Entertainment is a leading platform providing innovative Internet-empowered entertainment services in China, offering online entertainment ticketing services, entertainment content services, e-commerce services and advertising services and others.

1. Leader in online entertainment ticketing services. Maoyan Entertainment was the largest online movie ticketing service provider in China with a market share of 61.3% by GMV of movie tickets sold in the nine months ended September 30, 2018, according to the iResearch Report. The Company was also the second largest player by GMV in the nine months ended September 30, 2018, according to the iResearch Report.
2. Leader in entertainment content service. Maoyan Entertainment has become the largest lead distributor of domestic movies in terms of China gross box office in the 21 months ended September 30, 2018, according to the iResearch Report. In the nine months ended September 30, 2018, the Company provided entertainment content services for movies that contributed to over 90% of the gross box office in China.
3. Leading online community of entertainment audience and professionals. Maoyan Entertainment was the largest online movie community in China by average MAU in the nine months ended September 30, 2018, according to the iResearch Report. Maoyan Pro app was the most popular professional app for the entertainment industry in China by average MAU in the same period, according to the iResearch Report.

Source: Prospectus, Company’s HKEX Deal Announcements