IPO pricing | Tianrun Cloud was subscribed 1.17 times, priced at HK$12.85 per share

Futu News, June 29th, this Wednesday$TI CLOUD (02167.HK)$An announcement was issued. The company issued 43.53 million shares, priced at HK$12.85 per share, and 200 shares per lot. It is expected to go public on June 30.

Tianrunyun received about 1.17 times more subscriptions during the public offering phase. The final number of shares offered for sale was 4.3532 million shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 4,656 valid applications were received, and the first-round winning rate was 90.02%.

Furthermore, the international offering has been oversubscribed. The final number of shares offered was 39.176,800 shares, equivalent to about 90% of the total number of shares offered (before any over-allotment rights were exercised). Futu Information collates the relevant data in the following table:

In terms of fund-raising purposes, the company plans to use the net proceeds from the global sale for the following purposes: about 75% will be used to further enhance the company's core technology, optimize the existing solution portfolio and develop complementary solutions to meet changing customer needs; about 20% will be used in the next five years to further enhance the company's brand image in the customer contact solutions market, expand the company's direct sales team, enhance the company's sales capacity and increase the company's marketing efforts; and about 5% will be used for working capital and general corporate purposes.

Tianrun Cloud provides a variety of cloud-native customer contact solutions. Cloud-native customer contact solutions are communication solutions that enable enterprises to interact with customers through multiple channels. According to the Insight Consulting report, in terms of revenue in 2021, the company is the largest provider of customer contact solutions deployed in the public cloud in China, with a market share of 10.3%.

The company's solutions are based on a cloud-native, secure and reliable platform that enables companies to create extraordinary customer communication experiences and perform sales, marketing, customer service and other business functions in an intelligent manner. In 2021, the company promoted more than 3 billion voice calls, SMS and text chat interactions between enterprises and their customers through multiple channels, helping to improve the productivity and efficiency of enterprises.

In terms of financial conditions, the company's total revenue from 2019 to 2021 was 335 million yuan, 354 million yuan, and 402 million yuan respectively, with a compound growth rate of 9.54%. Net profit for the same year was approximately 60 million yuan, 70 million yuan and 18 million yuan respectively.

On the industry side, according to the Insight Consulting Report, the revenue generated by China's public cloud customer contact solutions has increased from RMB 1.1 billion in 2017 to RMB 4 billion in 2021, with a compound annual growth rate of 39.2%, and is expected to reach RMB 18.3 billion in 2026, with a compound annual growth rate of 35.2%.

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