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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Suning.com Co., Ltd.    002024   CNE000001KF2

SUNING.COM CO., LTD.

(002024)
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China's Gome says to raise $200 million through debt sale to Pinduoduo

04/19/2020 | 08:50am EST

Chinese electronics retailer Gome Retail Holding on Sunday said it would raise $200 million through a convertible bond issue that will be entirely taken up by e-commerce platform Pinduoduo.

The deal comes as the COVID-19 pandemic, which first emerged in China last December, has sent a shudder through the global retail industry.

Pinduoduo also earlier this month raised $1.1 billion in a private share placement and the deal will mark its first investment in another company since the e-commerce platform was founded in 2015.

The bonds will carry a coupon of 5% per annum and a tenure of 3 years, which Pinduoduo can opt to extend by two years, Pinduoduo said in a separate statement.

They are convertible at HK$1.215 per share, 66.4% higher than the electronics retailer's closing share price of HK$0.73 on Friday, and 1.28 billion Gome shares or about 5.6% of its existing issued share capital, will be alloted, they said.

"Gome wins because they can broaden their access to our 585.2 million users and PDD wins because we enhance our foothold in household appliances and electronics," Pinduoduo's Vice President of Strategy David Liu said.

Gome said "the subscription offers a good opportunity to raise additional funds to strengthen the financial position and broaden the capital base of the group so as to facilitate its future development".

The two companies on March 31 jointly held a promotion to give away 500 million yuan worth of discounts and consumption subsidies on more than 6,000 items, joining other firms such as Suning.com and Alibaba Group Holdings' Alipay that have rolled out similar campaigns to try and stimulate consumption during the virus outbreak.

(Reporting by Brenda Goh; Editing by Alex Richardson and Emelia Sithole-Matarise)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ACCESS CO., LTD. 1.39% 803 End-of-day quote.-15.92%
AT HOME GROUP INC. 6.58% 17.99 Delayed Quote.227.09%
BASE CO., LTD. -2.00% 5880 End-of-day quote.117.51%
BASE,INC. 6.68% 9580 End-of-day quote.445.87%
GOME RETAIL HOLDINGS LIMITED -2.20% 0.89 End-of-day quote.23.61%
JUST GROUP PLC 0.95% 59.7026 Delayed Quote.-23.86%
LETS HOLDINGS GROUP CO., LTD. 4.28% 9.26 End-of-day quote.53.31%
LOOK HOLDINGS INCORPORATED 0.49% 1027 End-of-day quote.-17.97%
PINDUODUO INC. 2.05% 143.94 Delayed Quote.280.59%
SUNING.COM CO., LTD. 0.88% 9.15 End-of-day quote.-9.50%
THE GLOBAL LTD. 8.48% 243 End-of-day quote.-48.41%
THE NEW HOME COMPANY INC. 2.74% 5.62 Delayed Quote.20.60%
WILL GROUP, INC. 6.52% 980 End-of-day quote.-21.73%
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Financials
Sales 2020 280 B 42 538 M 42 538 M
Net income 2020 1 079 M 164 M 164 M
Net cash 2020 259 M 39,4 M 39,4 M
P/E ratio 2020 75,2x
Yield 2020 0,29%
Capitalization 83 490 M 12 667 M 12 685 M
EV / Sales 2020 0,30x
EV / Sales 2021 0,26x
Nbr of Employees 42 196
Free-Float 29,4%
Chart SUNING.COM CO., LTD.
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Suning.com Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SUNING.COM CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 11,83 CNY
Last Close Price 9,15 CNY
Spread / Highest target 53,0%
Spread / Average Target 29,3%
Spread / Lowest Target 3,83%
EPS Revisions
Managers
NameTitle
En Long Hou President
Jin Dong Zhang Chairman
Xiao Ling Wang Chairman-Supervisory Board
Wei Min Sun Vice Chairman
Xiang Sheng Meng Director & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
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