CICC Assists Autohome in Listing on HKEX
On March 15, 2021, Autohome Inc. ( “Autohome”, or the “Company”, 2518.HK) was listed on the Main Board of Hong Kong Stock Exchange (HKEX), with offering size of US$689mm (pre-shoe)/ US$792mm (after full exercise of green shoe option). CICC acted as Left-lead Joint Lead Sponsor, Left-lead Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager in the transaction.
The transaction is the first-ever Chinese auto internet platform company to list in HK, the listing of the largest Chinese auto internet platform by market share, as well as the first HK secondary listing to offer both primary and secondary shares.
Founded in 2005, Autohome is China’s largest automobile internet platform and the world’s most visited automobile website. In December 2020, the DAU of its mobile app exceeded 42 million, well above that of its peers. The Company was listed on NYSE in 2013
The “Autohome” website, with data and technology at its core, has built a smart automobile ecology covering “content, trading, finance and lifestyle”. It has achieved continuous horizontal and vertical expansion through intelligent empowerment by AI, big data and cloud technology, as well as connection between data and industrial operations enabled by SaaS. By providing consumers with high-quality automobile consumption and lifestyle services in multiple scenarios including the shopping, purchase and usage of automobiles, it fuels the booming of China’s automobile industry
With dedication, professional advice and efficient execution, CICC was highly praised and recognized by the management of Autohome, and stood out as the Lead Sponsor among fierce competition
CICC fully tapped its investment highlights and took lead in organizing the roadshow, accurately covering core Chinese investors and internationally renowned LO institutions. The roadshows provided adequate education to mainstream investors in the market, winning high recognition for Autohome among investors.
During the short time frame from kick-off to pricing, CICC actively helped the Company to communicate with investors under the unstable market environment, boosting market confidence and thus ensuring its successful offering.
The project is CICC's 9th HK secondary listing since the introduction of Chapter 19C of HKEX Listing Rules, which once again highlights CICC’s leading position in providing investment banking services in the global TMT sector and in the HK market. CICC will continue to provide international and professional services to help high-quality TMT enterprises to thrive.