Chinese online trading service provider 5173 plans to raise up to US $ 200 million (VC320) for IPO in Hong Kong

According to the news on September 13, China's online trading service company 5173.com has submitted a listing application to the Hong Kong Stock Exchange. The listing hearing will be held as soon as this month, and it will be listed in the fourth quarter.

5173.com is an online platform for gamers in mainland China to trade virtual goods. Such companies are rarely listed in Hong Kong. A recent similar transaction was a 1.24 billion Hong Kong dollar ($ 183 million) IPO conducted by Chinese online game company NetDragon in 2007.

According to sources, US investors' ignorance in listing Chinese Internet companies is one of the main reasons for 5173.com's listing in Hong Kong, and the higher cost of listing in the United States is another reason.

The source said: "Unlike many other Chinese internet companies listed in the US, 5173.com is already profitable and in this respect is eligible to be listed in Hong Kong. Listing in Hong Kong also allows it to reach local Asian investors. China Network

The company knows better. "

The sponsor listed on 5173.com was BNP Paribas, and began to promote the transaction to the market in September.

Public information shows that in addition to the game props trading business, 5173.com includes different services such as game currency transactions, account transactions, point card transactions and equipment transactions; the average daily transaction volume exceeds 160,000 and the number of active registered users exceeds 1500 Ten thousand people, the transaction volume in 2010 reached 7 billion yuan, of which the virtual goods transaction services of various online games are still the main source of income, accounting for more than 90% of the overall income.

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