SF Holding intends to backdoor Din Tai new material

Updated: 2016-5-24 7:05:00  Views: 843

Original title: SF Holdings intends to backdoor Din Tai new material

May 23, A-share companies announced Din Tai new material, in order to be set as of a 100% stake in the asset valuation date and all assets and liabilities held by all shareholders holding SF SF holding equivalent part Din Tai new material replacement. the initial price of 100% stake in SF holding 433 million.

For SF choose backdoor listing, many industry insiders believe that the IPO 'queuing' longer relevant. China Express Advisory Network Principal Consultant Xu Yong said in an interview with Nanfang Daily interview, backdoor listing faster, but can also cause undervalued drawbacks, 'if the motherboard IPO, the valuation should be at least more than 60 billion.'

Nanfang Daily reporter intern Lin Liu Xiao Peng snow

It moved from the IPO backdoor

Notice that, in December 31, 2015 as the base date, the transaction set out the estimated value of 810 million yuan of assets, the assets to be placed SF holding 100% stake in the estimated value of 44.8 billion yuan, due 2016 May 3 SF controlling shareholder meeting resolutions cash dividends of 1.5 billion, the initial price of 100% stake in SF holding 433 million.

Does not consider supporting financing factors, the transaction is completed, the head of SF Wang Wei control Matilda Holdings will hold 64.58% equity Din Tai new material, consider the factors supporting the financing, the transaction is completed, Wang Wei control Matilda Holdings will hold 55.04% of total equity holding Matilda. Wang Wei Din Tai new material will become the actual controller.

As early as there was news that at the beginning of this year, SF has already begun preparing for A-share IPO. At that time, SF announced that the company is currently undergoing counseling listing announcement shows 'SF Holding (Group Co., Ltd. intends to domestic securities market initial public offering and listing, currently undergoing counseling CITIC Securities, China Merchants Securities and Huatai Securities. '

When the SF from the IPO to choose backdoor listing, many industry insiders believe that the IPO 'queuing' longer relevant. China Express Advisory Network Xu Yong, chief consultant to accept the Nanfang Daily interview, good luck this time choose backdoor listing is considered faster, but the corresponding result undervalued drawbacks. 'At present SF backdoor preliminary market valuation of 43.3 billion yuan, although higher than the 16.9 billion yuan Shentong tact valuation and valuation of 17.5 billion yuan, but this estimate value is still low, if the motherboard IPO, the valuation should be at least 600 billion yuan. '

Reporters learned that in addition to its own SF-speed transport logistics, preferably SF assets such as plates, also involving financial, O2O business. According to the latest disclosure of SF's official website, as of July 2015, SF has nearly 340,000 employees, 16000 transport vehicles, 19 cargo aircraft owned and across the world, more than 12,000 outlets.

Courier companies compete Listed

In recent years, the domestic express delivery market has shown explosive growth potential. According to the official website of the State Post Bureau data show that in 2015, China's express delivery service enterprises business volume totaled 20.67 billion, up 48%, revenue totaled 276.96 billion yuan, an increase of 35.4%. express delivery market a great cake, accelerate time to market is the trend of the express industry.

Currently, there are a number of courier company announced the financing or listing. In addition to already announced a backdoor listing messages STO and tact Express, the logistics Nadu IPO application submitted last year, have been disclosed in the Shanghai Stock Exchange, home delivery is also publicly expressed their listing, while part-owned by Alibaba headquarters in Hangzhou Best logistics prior to the implementation of a potential future IPO plans, through a new round of financing raised $ 700 million of funds.

Xu Yong, express delivery companies racing to market, the development of the industry by the direction of large-scale industry to the international courier and integrated logistics. Capital to support the transition process is a key factor, express logistics enterprises in order to gain an advantage in the competition, you must obtain more generally the amount of capital support.

Din Tai new material in the announcement, but also to invest in the fund-raising is disclosed, in which 2.7 billion yuan acquisition of Air Materiel meet cargo aircraft components maintenance requirements and fleet expansion needs 11 billion yuan for the construction and information service platform next-generation logistics information technology research and development projects, 700 million yuan for cold transport temperature control equipment and vehicle purchases and 35 billion for transit farm construction projects.

Special researcher at the China Institute of Logistics Yang Daqing opinion, this should be a key year for courier business capital competition, the three express backdoor capital will bring the war. With the capital leverage, accelerate resource gathering Chinese express delivery market, but will also be introduced in the capital bring 'new barbaric growth' - with the capital increase subsidies, short-term impact on the stability of the market, the industry's early warning and risk management norms in 2016, or more urgent.


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Traditional Chinese: 順豐控股擬借殼鼎泰新材