Yadea Group sets HKD 1.72 – HKD 2.48 band for IPO

05 May 2016 - 12:00 am UTC

Yadea Group, China’s largest electric scooter maker, has set the price range for its up to HKD 1.86bn (USD 239.7m) initial public offering at HKD 1.72 – HKD 2.48 per share, according to a termsheet seen by this news service and a person briefed with the situation.

The price range represents 8.7x – 12.5x its 2016 forward earnings, the termsheet and the person said.

The company is offering 750m shares – 720m new shares and 30m secondary shares – in the IPO, the termsheet shows. The selling shareholder is pre-IPO investor Kuanjie (Cayman) Investment Centre LP, whose general partner is a wholly owned subsidiary of the Goldman Sachs Group, according to the term sheet.