AMTD International IPO: What You Need To Know

Shares in a Hong Kong-based financial services firm are up for grab this week through the IPO route.

The IPO Terms

Hong Kong-based AMTD International Inc is planning to offer 20.76 million shares in an U.S. IPO, with each ADS representing one Class A ordinary share of the company, according to the F-1/A.

The company said it expects to price the public offering in the range of $8.10-$8.48.

At the midpoint of the estimated price range, the offering is likely to raise gross proceeds of $172.1 million.

The company said it intends to list the ADSs on the NYSE under the ticker symbol HKIB.

Loop Capital Markets, MasterLink, Tiger Brokers, View Trade Securities and Boustead Securities are the underwriters for the offering.

The Company

AMTD is an independent investment banking firm in Asia serving PRC regional banks and new economy companies, and is majority-owned and managed by Hong Kong entrepreneurs and professionals.

It operates a full-service platform, encompassing three business lines, namely investment banking, asset management and strategic investment.

As of March 31, 2019, AMTD had assets under management of $2.6 billion.

The Finances

AMTD reported fiscal-year 2018 revenues of $92.13 million, up about 43% year-over-year. Fee & commission accounted for $46.82 million of the total revenues. For the three months ended March 31, 2019, revenues came in at $38.94 million, reversing from the negative revenues a year-ago.

The net income for 2018, however, fell 18% year-over-year to $59.63 million. For the three months ended March 31, 2019, AMTD reported a profit of $40.97 million.

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