On November 1st, 2019, Fangdd Network Group Limited (“Fangdd”, Stock Code: DUO), China’s first industrial internet SaaS stock, a leading internet technology company in housing service industry and the largest online real estate transaction platform, was successfully listed on NASDAQ. AMTD acted as a Joint Underwriter and Joint Bookrunner of Fangdd’s US IPO, assisting the company to successfully land in the international capital markets. The transaction is the 16th IPO issuance of AMTD in 2019, demonstrating AMTD’s strength to offer professional services to global leading companies in the international financial markets.
Fangdd offered a total of 6,000,000 ADSs with an offer price of USD 13 per ADS. The total issue size is USD 78mn (pre-shoe) and USD 89.7mn (post-shoe). In terms of the number of the agents registered as of December 31, 2018, Fangdd is a leading internet technology company in housing service industry and the largest online real estate transaction platform. Of the approximately 2.0 million real estate agents in China, Fangdd’s marketplace had over 911,000 registered agents. This IPO has gained a great popularity among investors. As a leading bank in the transaction, AMTD introduced multiple important high-quality Long-only orders for Fangdd and was highly praised by the issuer, fully demonstrating AMTD’s strong sales capability in equity capital markets and drawing wide attention from capital market investors.
Since its debut of entering US capital markets in 2018, AMTD has completed a number of high-profile capital market transactions, including 360 Finance (NASDAQ: QFIN), the leading fintech company backed by Chinese Internet Giant; Up Fintech (NASDAQ: TIGR), a leading internet broker in the new generation; Weidai (NYSE：WEI), the first technology stock for auto loans; X Financial (NYSE：XYF), China’s leading Fintech company; TuanChe Limited (NASDAQ: TC), China’s first automobile new-retailer to be listed in US and Aptorum (NASDAQ: APM), a leading medical innovation and bio pharmaceutical company in Hong Kong. Furthermore, AMTD International (NYSE: HKIB), the investment banking platform of AMTD Group, was listed successfully in New York Stock Exchange. AMTD International is the first Hong Kong financial institution that is listed in the US capital market and the only Asian investment bank listed in the US that was founded by Chinese, as well as the No. 1 independent investment bank in Asia and the top five independent investment bank with the largest market capitalization in US capital markets.