Author: Fruit Green
[TechWeb] on October 16, NetEase youdao updated his IPO and will list on the New York Stock Exchange on October 25, with a range of $15 to $18, with a stock code of $15 to $18.
Netease Youdao plans to issue 5.6 million ADSS, with the corresponding fund raising range of US $84 million to US $100.8 million. Ding Lei will subscribe up to $20 million in ads.
At the same time of this offering, Netease Youdao made a private placement simultaneously. ORBIS fund, the largest institutional shareholder of Netease, promised to purchase a total of 125 million US dollars of class a common shares from Youdao.
The prospectus shows that in the first half of 2019, Youdao achieved a revenue of 549 million yuan, a year-on-year increase of 67.7%; Youdao had a net loss of 168 million yuan, a year-on-year increase of 102.9%. In 2018, the total revenue of Youdao was 731.6 million yuan, with a net loss of 209 million yuan.
In the first half of 2019, Netease Youdao learning services and products achieved a revenue of 315 million yuan, accounting for 57% of the total revenue; Netease Youdao online marketing services achieved a revenue of 234 million yuan, accounting for 43% of the total revenue.
In the first half of 2019, the average Mau of Youdao is 105 million yuan, 93.1 million yuan in the same period of last year; in the whole year of 2018, the average Mau is 96.4 million yuan, 73.7 million yuan in the same period of last year.
In terms of shareholding, there is a way to adopt different rights for the same share. Before IPO, Ding Lei, chairman of board of directors of Netease, held 30.1% of the shares; Zhou Feng, CEO of Netease Youdao, held 20.6% of the shares; Wu Yinghui, vice president of Netease Youdao, held 1.9% of the shares. After IPO, Ding Lei will hold 33.4%, Zhou Feng will hold 22.8% and Wu Yinghui will hold 2.1%.