NIO Capital's Portfolio Company TUHU Successfully Listed on the Main Board of SEHK
TUHU Car Inc. (“Tuhu” or “Company”, stock code: 9690.HK), a leading integrated online and offline platform for automotive service in China, successfully listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today with a board lot size of 100 shares. The share price closed at HK$28.65 by midday, up 2.32% and represents a market capitalization of HK$23.27 billion.
Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, UBS Securities HK Limited and Merrill Lynch (Asia Pacific) Limited act as the Joint Sponsors for the Global Offering.
Ian Zhu, Managing Partner of NIO Capital, said, “China leads the world in car ownership and demand for after-sales services. Tuhu offers online and offline solutions that are standard, transparent, and efficient. It has grown and profited by serving both conventional and new energy vehicles. We support its business model and prospects.”
Chen Min, Founder & CEO of Tuhu (Left) and Ian Zhu, Managing Partner of NIO Capital (Right)
The Company states that Tuhu is committed to using technological innovation, efficient operation management system and data insights to revolutionise how automotive service is planned, managed and rendered. The listing of TUHU Car Inc. in Hong Kong marks a key milestone and unfolds a new chapter in the Company's development. In the future, Tuhu will capture the massive addressable market and growth opportunities in China’s automotive service market. With the pragmatic and rigorous attitude, Tuhu will provide Chinese car owners with more diverse products and more professional services.