58 Will the same city be privatized?Hua Ping, Ou Ling, Yao Jinbo have formed a group

58 Will the same city be privatized?Hua Ping, Ou Ling, Yao Jinbo have formed a group
On the evening of April 30, 58 Tongcheng (NYSE: WUBA) announced that the company ‘s board of directors received non-binding private ownership from Huaping Investment Asia, Pan Atlantic Investment Group Singapore Fund, Ou Ling Investment and the company ‘s chairman and CEO Yao JinboTo make an offer, plan to take a pair of ordinary shares27.A cash purchase of US $ 50 (equivalent to US $ 55 per year for American depositary shares) acquires 58 issued common stock in the same city.According to the disclosure, members of the preliminary consortium held about 44 in total.Circulating shares issued by companies with 1% of total voting rights.At the same time, the preliminary consortium will fund transactions through equity and debt financing. Equity financing will be provided by the original consortium members and other members who may join the consortium.The annual report shows that Tencent holds 58 in the same city22.4% of the shares, owning 28.3% of the voting power is the largest shareholder of 58 in the same city.Yao Jinbo holds 58 of 10 in the same city.2% of the shares are the second largest shareholder with 42% of voting rights.In fact, this is not the first time City 58 received an offer. On the evening of April 2, City 58’s board of directors said that it received a non-binding acquisition offer from Ou Ling Investment to acquire all outstanding shares at a price of USD 55 / ADS.At the time, the 58 City Board of Directors stated that it would conduct an offer evaluation as soon as possible.On April 20, 58 Tongcheng announced that the company’s board of directors had established a special committee to evaluate the privatization offer received in early April, or other alternative strategic options that the company might take.Subsequently, 58 Tongcheng hired independent financial advisers, as well as legal advisers.Public information shows that Ou Ling Investment is a private equity investment company focusing on China’s travel and leisure industry.The investment scope covers online and offline travel agencies and service operators, hotels and resorts, attractions and destinations, industry solution providers, etc.The strategic partners and shareholders of Ou Ling Investment include China’s largest online travel service company, Ctrip.com, and Pan-Atlantic Investment Group, the world’s leading growth private equity investment company.Compared with Ou Ling Investment, Huaping Investment has a deeper relationship with 58 city.The company’s official website shows that Huaping Investment was established in 1966 and is a world-renowned private equity investment institution. It has gradually invested more than US $ 83 billion in more than 895 companies in more than 40 countries and regions.Huaping has repeatedly invested in 58 cities.The 58 city established in 2005, landed on the New York Stock Exchange in 2013. In 2015, 58 city completed Anjuke, Zhonghua Yingcai.com and M & A.At present, 58 Tongcheng is a large domestic life service platform, covering businesses in recruitment, property, automobile, second-hand, local life services and finance.58 The financial report of the previous annual audit issued by the same city in 2019 showed that revenue was 155.8 billion, an annual increase of 18.6%; gross profit 137.8 billion, an annual increase of 17.8%.The net profit attributable to ordinary shareholders is 82.800 million, an annual increase of 314.5%, net profit attributable to ordinary shareholders of non-US accounting standards is 79.8 billion, an annual increase of 193.0%.Excluding the investment income from the sale of many shares of the car and the payment of the expenses payable, the net profit of the non-US accounting standards for the same city in 2019 is 36.0 billion, an annual increase of 32.4%.Sauna, Ye Wang, Chen Weicheng, editor Li Weijia to deal with Chun Leng