BEIJING, Nov. 16, 2017 /PRNewswire/ -- Bitauto Holdings
Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading
provider of internet content & marketing services, and
transaction services for China's
fast-growing automotive industry, today announced that its
controlled subsidiary Yixin Group Limited ("Yixin") (SEHK: 2858), a
leading online automobile retail transaction platform in
China, has completed the global
offering ("Global Offering") of its shares. The trading of Yixin's
shares on the Main Board of The Stock Exchange of Hong Kong Limited
commenced at 9:30am on November 16, 2017 (Hong
Kong time).
Yixin initially offered 878,680,000 of its shares, which
represent approxmatiely 14% of Yixin's shares in issue, immediately
following the completion of the Global Offering (assuming no
over-allotment option is exercised and no additional shares are
issued under Yixin's share incentive plans hereafter), and were
priced at HKD7.70 per share. In
addition, Yixin has granted an over-allotment option to the
international underwriters pursuant to which it may be required to
issue up to an additional 131,802,000 shares at the offer
price.
The net proceeds from the Global Offering, after deduction of
the underwriting commission and other estimated expenses in
connection with the Global Offering and assuming that the
over-allotment option is not exercised, are estimated to be
approximately HK$6,503.5 million. The
net proceeds will be used for implementing Yixin's sales and
marketing initiatives, further enhancing Yixin's research and
technology capabilities, strengthening Yixin's capital resources to
support the ongoing growth of its self-operated financing business,
selectively pursuing acquisitions of or investments in assets and
businesses which are complementary to Yixin's business, as well as
for working capital and other general corporate purposes.
Following Yixin's Global Offering, Bitauto remains Yixin's
controlling shareholder with majority voting power. Yixin's other
major strategic shareholders include Tencent Holdings Limited (SEHK: 0700), a leading
provider of Internet value added services in China; JD.com, Inc. (Nasdaq: JD), China's
largest retailer; and Baidu, Inc. (Nasdaq: BIDU), the leading Chinese language internet
search provider.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), or any state securities laws and
may not be offered or sold in the United
States absent registration under the Securities Act or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
About Bitauto Holdings Limited
Bitauto Holdings Limited (NYSE: BITA) is a leading provider of
internet content & marketing services, and transaction services
for China's fast-growing
automotive industry. Bitauto manages its businesses in three
segments: its advertising and subscription business, transaction
services business and digital marketing solutions business.
Bitauto's advertising and subscription business provides a
variety of advertising services mainly to automakers through its
bitauto.com website as well as corresponding mobile applications,
which provide consumers with up-to-date new and used automobile
pricing and promotional information, specifications, reviews and
consumer feedback. Bitauto also offers subscription services via
its SaaS platform, which provides web-based and mobile-based
integrated digital marketing solutions to automobile dealers in
China. The platform enables dealer
subscribers to create their own online showrooms, list pricing and
promotional information, provide dealer contact information, place
advertisements and manage customer relationships to help them reach
a broad set of purchase-minded customers and effectively market
their automobiles to consumers online.
Bitauto's transaction services business is a leading automotive
transaction services platform in China, which provides transaction facilitation
services to automobile dealers and online automotive financial
platform services to consumers and financial institutions including
banks, auto finance companies and insurance companies.
Bitauto's digital marketing solutions business provides
automakers with one-stop digital marketing solutions, including
website creation and maintenance, online public relations, online
marketing campaigns and advertising.
For more information, please visit ir.bitauto.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the business outlook of the Company and the
quotations from management in this announcement, as well as
Bitauto's strategic and operational plans, contain forward-looking
statements. Bitauto may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Bitauto's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: our goals
and strategies; our future business development, financial
condition and results of operations; the expected growth of the
automobile industry and the internet marketing industry in
China; our expectations regarding
demand for and market acceptance of our services and service
delivery model; our expectations regarding enhancing our brand
recognition; our expectations regarding keeping and strengthening
our relationships with major customers, partner websites and media
vendors; relevant government policies and regulations relating to
our businesses, automobile purchases and ownership in China; our ability to attract and retain
quality employees; our ability to stay abreast of market trends and
technological advances; competition in our industry in China and internationally; general economic
and business conditions in China;
and our ability to effectively protect our intellectual property
rights and not infringe on the intellectual property rights of
others. Further information regarding these and other risks is
included in Bitauto's filings with the Securities and Exchange
Commission, including its annual report on Form 20-F. Bitauto does
not undertake any obligation to update any forward-looking
statement as a result of new information, future events or
otherwise, except as required under applicable law. All information
provided in this press release and in the attachments is as of the
date of this press release, and Bitauto undertakes no duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please contact:
China
Suki Li
Bitauto Holdings Limited
Phone: +86-10-6849-2145
ir@bitauto.com
Clarisse Pan
Foote Group
Phone: +86-10-8429-9544
bitauto@thefootegroup.com
SOURCE Bitauto Holdings Limited