New IPO Pricing | Graffiti Asia Vets-W received 9.95 times oversubscription, priced at HK$19.30 per share.

On July 4th, Futu News reported that this Monday$TUYA-W (02391.HK)$announcement, the company issued 7.3 million shares, priced at HK$19.30 per share, 200 shares per hand, expected to be listed on July 5th.

During the public offering phase, Graffiti Asia Vets received 9.95 times subscription, with the final number of shares available for public offering at 0.73 million shares, accounting for approximately 10% of the total shares offered (before any exercise of the over-allotment option). A total of 3981 valid applications were received, with a 18.03% allotment rate for one lot.

In addition, the international offering was oversubscribed, with the final number of shares offered at 6.57 million shares, equivalent to approximately 90% of the total shares offered (before any exercise of the over-allotment option). Futu News compiled the relevant data as shown in the table below:

According to the prospectus,Graffiti Asia Vets has established the world's first Internet of Things cloud development platform.This has enabled Graffiti Asia Vets to have many first-mover advantages in the global Internet of Things PaaS field. According to data from Torch Insight, in May 2015, Graffiti Asia Vets established the Internet of Things cloud development platform ahead of the major competitors in the global Internet of Things PaaS industry. Graffiti Asia Vets went public on the NYSE in March 2021, as of the US Eastern Time, the closing price of US stocks on July 1st.$Tuya Inc (TUYA.US)$Reported $2.57 per share, with a total market value of $1.468 billion.

Tuya Smart provides various services through the company's Internet of Things cloud development platform. Tuya Smart's Platform as a Service (PaaS) helps brands, OEMs, and developers to develop, launch, manage, and monetize smart devices and services. Tuya Smart's Software as a Service (SaaS) products for the industry help companies deploy, connect, and manage a large number of different types of smart devices. Tuya Smart also offers a variety of cloud-based value-added services to enterprises, developers, and end-users to enhance their capabilities in developing and managing Internet of Things experiences.

Through Tuya Smart's Internet of Things cloud development platform, developers can activate the Internet of Things ecosystem composed of brands, OEMs, partners, and end-users to interact and communicate through a wide range of smart devices.

In terms of financial situation, the company's total revenues in 2019-2021 were $0.106, $0.18, $0.302 billion, with a compound annual growth rate of 68.98% from 2019 to 2021; and the net losses during the same period were $0.07, $0.067, $0.175 billion respectively.

In the industry sector, according to data from ZhoShi Consulting, the shipments of smart home and smart commercial related devices reached 1.129 billion units in 2021, and is expected to increase to 1.9 billion units by 2026, with a compound annual growth rate of 10.50% from 2021 to 2026; the shipments of smart industry-related devices reached 0.572 billion units in 2021, and is expected to increase to 1.3 billion units by 2026, with a compound annual growth rate of 18.50% from 2021 to 2026.

In 2021, the average penetration rate of Internet of Things-enabled devices in the total incremental device shipments for home and commercial operations was 5.70%, and is expected to increase to 8.10% by 2026. In 2021, the average penetration rate of Internet of Things-enabled devices in the total incremental device shipments related to industrial operations was 13.30%, and is expected to increase to 22.00% by 2026.

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