Dmall Inc. Plans Listing on Hong Kong Stock Exchange Main Board
Dmall Inc., China's largest retail digitalization solutions provider, has announced its proposed listing on the Main Board of the Hong Kong Stock Exchange. The offering is expected to raise up to HK$779 million.
Dmall Inc., a major provider of retail digitalization solutions in China, has announced its intention to list on the Main Board of the Hong Kong Stock Exchange. The company anticipates raising up to HK$779 million (approximately US$100 million) through the offering.
The offering consists of 25,774,000 shares priced at HK$30.21 per share. After deducting underwriting commissions and estimated expenses, Dmall expects to net approximately HK$623.7 million (around US$80 million). Trading of the company's shares is scheduled to commence on the Hong Kong Stock Exchange on December 6.
Proceeds from the global offering are earmarked for several strategic initiatives. Approximately 42.1% (HK$262.6 million) will be allocated to the development of new applications and service modules. Around 30% (HK$187.1 million) will fund talent acquisition to support operational expansion. The remaining funds will be directed towards strategic cooperation, investments, acquisitions, expanding the sales network, and general corporate purposes.
Founded in 2015, Dmall provides digitalization solutions for retailers. According to Frost & Sullivan, Dmall was China's largest retail cloud solution provider by gross merchandise volume (GMV) in 2023, holding a 13.3% market share. In Asia, the company held a 10.9% market share in 2023.