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Kidswant seeks ChiNext listing
Posted on Friday, 06 November 2020 13:53
Kidswant Children Products intends to raise CNY 2.45 billion (USD 369.71 million) via an initial public offering (IPO) on Shenzhen Stock Exchange’s Nasdaq-style ChiNext Board.
The Nanjing-based speciality retailer focused on maternity, infant and children segments is planning to sell up to 108.91 million new shares, representing a 10.0 per cent stake.
Kidswant is a family-orientated omni-channel, with 363 digital physical stores serving 37.00 million card members in 19 provinces and 121 cities, as at 30th June 2020.
The group’s product matrix includes mobile apps, official WeChat accounts and a QR Code, which support its online and offline integration.
Its portfolio comprises products like milk powder, nutrition, and healthcare; clothing such as children’s shoes and underwear; consumables ranging from toiletries to nappies (or diapers); and durable items, for example toys and educational games.
Furthermore, Kidswant also has playgrounds, interactive activities and childcare services for pregnant women and babies.
The group generated operating income of CNY 3.84 billion in the six months to 30th June 2020 (FY 2019: CNY 8.24 billion; FY 2018: CNY 6.67 billion; FY 2017: CNY 5.23 billion).
It booked net profit of CNY 165.86 million in H1 2020 (FY 2019: CNY 377.40 million; FY 2018: CNY 275.97 million; FY 2017: CNY 93.80 million).
Kidswant will use money raised in the IPO for expansion, including setting up more and improving the layout of digital stores establishing a logistics centre and a digital data platform.
Zephyr, the M&A database published by Bureau van Dijk, shows 579 IPOs by mainland China-incorporated companies have been announced in 2020 to date.
One of the largest of the year is China Three Gorges Renewables, which is aiming to raise 25.00 billion when it debuts on ChiNext.
Huali Industrial Group is another company seeking a listing on the same board, as is Cambricon Technologies.
© Zephus Ltd