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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Alibaba Health Information Technology Limited    241   BMG0171K1018

ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED

(241)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/22
27.8 HKD   +3.93%
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JD Health plans to raise $3.5 billion in Hong Kong's biggest IPO of 2020

11/25/2020 | 02:05am EST

HONG KONG (Reuters) - JD Health International Inc, a major Chinese online healthcare platform, is seeking to raise up to $3.5 billion in what is set to be Hong Kong's biggest initial public offering of the year, a term sheet showed.

The deal which could value the unit of e-commerce giant JD.com at nearly $29 billion when a greenshoe option is included comes during a good year for China's healthcare platforms which have seen their popularity surge in the wake of the coronavirus.

By comparison, its biggest competitor, Alibaba Health Information Technology, has a market capitalisation of around $34.6 billion.

JD Health plans to sell 381.9 million shares in a range of HK$62.80 and HK$70.58, according to the term sheet. A greenshoe option to sell a further 15% of stock would take the size of the IPO up to $4 billion.

According to its draft prospectus, JD Health is the largest online healthcare platform in China by revenue, logging 10.8 billion yuan ($1.6 billion) last year. It had 72.5 million annual active users as of June 30 compared to 53.5 million at the same time last year.

It is also China's largest online retail pharmacy with a 29.8% market share, according to a Frost & Sullivan report.

The fundraising is set to lay the groundwork for greater competition in China's healthcare market, said Zhen Zhou Toh, an Aequitas Research analyst.

"Raising money now is implying that they will be fighting to gain as much market share as possible in the near future, either by building out their network of offline and online pharmacies or increase its online presence by offering discounts," he wrote on the Smartkarma platform this month.

Six cornerstone investors led by GIC, Tiger Global and BlackRock have taken up to $1.35 billion worth of stock in the deal, the term sheet showed.

The book build begins on Wednesday and the shares are due to be priced on Tuesday.

The initial size of the deal represents 12.2% of JD Health's enlarged share capital and the greenshoe, if exercised, will take that to 13.8%.

JD Health shares are expected to start trading on Dec. 8. The company did not immediately respond to a request for comment.

($1 = 6.5769 Chinese yuan)

(Reporting by Scott Murdoch in Hong Kong; Editing by Edwina Gibbs)

By Scott Murdoch


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.53% 258.62 Delayed Quote.11.12%
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED 3.93% 27.8 End-of-day quote.21.40%
BLACKROCK, INC. -0.96% 735.05 Delayed Quote.1.87%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.4845 Delayed Quote.-0.49%
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Financials
Sales 2021 16 620 M 2 564 M 2 564 M
Net income 2021 449 M 69,4 M 69,4 M
Net cash 2021 3 336 M 515 M 515 M
P/E ratio 2021 978x
Yield 2021 -
Capitalization 312 B 48 215 M 48 218 M
EV / Sales 2021 18,6x
EV / Sales 2022 11,4x
Nbr of Employees 1 036
Free-Float 29,2%
Chart ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED
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Alibaba Health Information Technology Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 24,12 CNY
Last Close Price 23,24 CNY
Spread / Highest target 18,4%
Spread / Average Target 3,76%
Spread / Lowest Target -12,4%
EPS Revisions
Managers and Directors
NameTitle
Shun Yan Zhu Chairman & Chief Executive Officer
Tong Luo Independent Non-Executive Director
King On Wong Independent Non-Executive Director
Yong Ming Eddie Wu Non-Executive Director
Hong Xu Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED21.40%48 215
VEEVA SYSTEMS INC.6.04%43 727
OMNICELL, INC.2.67%5 214
SECTRA AB (PUBL)0.89%3 439
PRO MEDICUS LIMITED18.56%3 257
ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.17.87%2 689