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Pop Mart will soon be offering shares. According to the latest foreign news report, Pop Mart intends to offer 31.5 yuan to 38.5 yuan shares per share, plans to issue 135.7 million shares, raise up to 674 million US dollars (about 5.22 billion yuan) and is expected to go public on 11 December. Previous reports have indicated that the company will conduct book building operations on Monday and begin its public offering in Hong Kong on Tuesday (Dec 1). The joint sponsors are Morgan Stanley and CITIC Securities.
One of the underwriters, CITIC Securities, released a report that gave Bubble Mart a valuation of HK $ 42.12 billion to HK $ 56.16 billion, which equates to 30-40 times the P / E ratio expected for Next year.
Bubble Mart was founded in 2010 and mainly sells fashion toys, electronics and beauty products and designs blind box toys by itself. The company currently operates more than 100 offline stores and more than 800 robotics stores across the country.
Bubble Mart quoted the Frost & Sullivan report as saying that, based on the number of visitors, the company held the largest fashion toy exhibition in China. At the same time, Bubble Mart has formed a large and active fan community with its membership program, online trending toy community, and various trending toy cultural activities.
The listing documents show that from 2017 to 2019, Bubble Mart’s revenue was 158 million yuan (RMB. Same below), 514 million yuan, and 1.683 billion yuan. Revenue growth in 2018 and 2019 was 225.4% and 227.2% respectively, maintaining rapid growth for two consecutive years
In 2017 and 2018, the company’s net profit was 1.56 million yuan and 99.52 million yuan respectively. In 2019, net profit reached 451 million yuan, a 3.5-fold increase year-on-year.
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Reporter: Xie Zhuorong
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