Foxconn Industrial Internet Co., Ltd. is planning to adopt the 'strategic placement + offline lock-in' approach. The innovative issuance has once become the hot topic of the market. On May 17, after Foxconn published the letter of intent for prospecting shares for 3 days, it was revealed that Foxconn has completed the IPO. Initial selection of strategic placement investors, BAT and other internet giants are selected for strategic placement.
According to the news, the criteria for the selection of strategic placement investors will first consider whether they can achieve a strategic synergy with the industry's Internet business. The cooperation provides a combination of software and hardware. The combination of actual and actual technological services solutions is complementary to the 'hard' and 'real' that Foxconn is good at. The Internet companies representing 'soft' and 'virtual' have become the preferred targets. In addition, the news shows that the largest Internet giants in the country are in the final list of war-matched investors.
In response to the above news, a reporter from Beijing Commercial Daily called Foxconn to conduct an interview. The staff of the other side said that the relevant person in charge had already left the office.
In fact, as a unicorn enterprise that has had a 'lightning' meeting for 36 days, every move of Foxconn's listing process has affected the nerves of the market. Foxconn received the IPO approval late on May 11 because it was on May 14th. In the morning, it announced the use of 'strategic placement + offline lock-in' in an innovative way to quickly focus on the market.
After disclosing the IPO prospectus, Foxconn also started preparations for the relevant issuance. Related information shows that Foxconn’s IPO issue was highly concerned with various institutional investors and participated enthusiastically. More financial bloggers disclosed that in Shenzhen, a pair of In many roadshows, on-site agency questions were very enthusiastic. According to Foxconn’s initial public offering of A-share stock offering arrangements and preliminary inquiry announcements, May 18 is the deadline for the payment of strategic investors. Strategic investors need to sign an agreement. Do not participate in the preliminary inquiry of the issuance and promise to accept the issue price determined by the issuer and the sponsor.
The data shows that the initial strategic issuance amount of Foxconn is approximately 590 million shares issued, which accounts for approximately 30% of the total number of shares issued. The difference between the final number of strategic placements and the number of initial strategic placements will be reversed according to the principle of 'callback mechanism'. It is worth mentioning that among the stocks allocated by this strategic investor, the lock-up period for 50% of the shares is 12 months, and the lock-up period for 50% of the shares is 18 months. Among them, it shows the intention of strategic cooperation with the company. , Some investors may voluntarily extend the lock-up period for all their shares to not less than 36 months.
In fact, in the announced announcement, Foxconn has explained the criteria for the selection of strategic placement targets. Foxconn said that the selection of strategic investors mainly considers investors with excellent qualifications and long-term strategic cooperation, including a good market reputation and Market influence, investors representing broad public interest; or large state-owned enterprises or their subordinate enterprises, large insurance companies or their subordinate enterprises, state-level investment funds and other investors with strong financial strength; or have strategic cooperation with the issuer Relationship or long-term cooperation vision, and investors who wish to hold shares for a long time.
Foxconn raised the amount of funds raised in this issue is also a major focus of the market. According to the letter of intent of prospectus disclosed by Foxconn, the company’s 8 projects and the amount of investment in the amount of investment in this issue have not changed compared to the previous period, to raise investment The total amount is still 27.25 billion yuan. It is worth mentioning that Foxconn said in the letter of intent of the prospectus that the amount of funds raised in excess of the above-mentioned eight parts will be used to supplement working capital.
In addition, the data shows that Foxconn's pre-release earnings per share was 0.9 yuan, and the number of new shares issued this time was 1.97 billion. If Foxconn ultimately raised capital of 27.25 billion yuan, the corresponding issuance P/E is only 15 times. Recently, the industry's valuation of the issue is between 17-23 times. If you are pricing at a conventional 23x price-to-earnings ratio, Foxconn will eventually raise more than 27.2 billion yuan.