Global offering of ANE (Cayman) Inc.

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HONG KONG, Nov 1, 2021 – (ACN Newswire) – The leading express freight network operator in the Chinese LTL market (“LTL”) – ANE (Cayman) Inc. (the “Company”, together with its subsidiaries, the “Group”, share code: 9956), announces the details of its global offering and its listing on the main board of the Hong Kong Stock Exchange Limited (“Hong Kong Stock Exchange”).

Strengths of the global offer:
– Number of Shares Offered under the Global Offer: 80,220,000 Offered Shares (subject to the Over-Allotment Option);
– Number of Offered Shares in Hong Kong: 8,022,000 Offered Shares (subject to reallocation);
– Number of International Offered Shares: 72,198,000 Offered Shares (subject to reallocation and the Over-allotment Option);
– Offer price range: HK $ 13.88 to HK $ 16.88 per offered share;
– The Hong Kong public offering is expected to close at 12:00 p.m. (11:30 a.m. for submission of applications via eWhite form service) on Thursday, November 4, 2021;
– Trading in the Shares on the Hong Kong Stock Exchange is expected to start on Saturday, November 11, 2021;
– JP Morgan Securities (Far East) Limited and China International Capital Corporation Hong Kong Securities Limited are the co-sponsors.

ANE (Cayman) Inc. plans to offer a total of 80,220,000 shares (subject to the over-allotment option) as part of the global offering, of which 8,022,000 shares (subject to reallocation) will be offered in under the Hong Kong public offering, and 72,198,000 shares (subject to reallocation and the over-allotment option) will be offered through an international placement. The Offer Price will not exceed HK $ 16.88 per Offered Share and should not be less than HK $ 13.88 per Offered Share. The Company should also grant the Over-Allotment Option, at any time from the Listing Date until Saturday December 4, 2021, i.e. 30 days after the last day for filing applications under the Hong Public Offer. Kong, under which our Company may be required to issue up to a total of 12,033,000 additional Shares. If the above over-allotment option is exercised in full and the final issued price is capped at the maximum offer price (which refers to HKD 16.88 per share), the total amount of funds raised will be to about US $ 200 million.

The Hong Kong Public Offer will begin on Saturday, October 30, 2021 and is expected to close at 12:00 p.m. (11:30 a.m. for submitting applications through the eWhite Form Service) on Thursday, November 4, 2021. Trading in the Shares on the Main Board of the Exchange of Hong Kong is scheduled to begin on Thursday, November 11, 2021. The Shares will trade in regular lots of 500 Shares each.

Assuming an offer price of HK $ 15.38 per offered share (i.e. the midpoint of the stated range of the offer price between HK $ 13.88 and HK $ 16.88 per offered share), the Company estimates that we will receive approximately HK $ 1,124.1 million net proceeds from the Global Offer after deducting underwriting fees and other estimated expenses related to the Global Offer. The Company intends to use the net proceeds of the Global Offering for the following purposes and in the amounts indicated below, subject to change in light of our evolving business needs and changing market conditions. :

– Approximately 40%, or HK $ 449.6 million, will be used for the construction, modernization and potential acquisitions of 5-10 key transit centers in strategic locations to cope with the strong volume growth and improve the structure of the network;

– About 30%, or HK $ 337.2 million, will be used for investment in the company’s line haul truck fleet to further improve the company’s operational efficiency. Specifically:
(i) approximately 25%, or HK $ 281.0 million, will be used to purchase approximately 2,000 to 3,000 modern, large capacity truck tractors and trailers, and to partner with major truck manufacturers to customize their models according to operational needs; and
(ii) about 5%, or HK $ 56.2 million, will be used to repay loans for the purchase of trucks.

– About 20%, or HK $ 224.8 million, will be used for investment in technological innovations. Specifically:
(i) approximately 10%, or HK $ 112.4 million, will be used to upgrade the technologies and automated facilities in our sorting network; and
(ii) approximately 10%, or HK $ 112.4 million, will be used to invest in intelligent transport management systems and autonomous driving technologies.

– About 10%, or HK $ 112.4 million, will be used for working capital and other general business purposes.

The Company has entered into a cornerstone investment agreement with benchmark investor Harvest International Premium Value (Secondary Market) Fund SPC, to subscribe at the offer price for a number of shares of the offering which may be purchased for a total amount of US $ 12.50 million (or approximately HK $ 97.23 million).

JP Morgan Securities (Far East) Limited and China International Capital Corporation Hong Kong Securities Limited are the co-sponsors. JP Morgan Securities (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited and Citigroup Global Markets Asia Limited are the global coordinators. JP Morgan Securities (Asia Pacific) Limited, JP Morgan Securities plc, China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Asia Limited, Citigroup Global Markets Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMB International Capital Limited, China Merchants Securities (HK) Co., Limited, Futu Securities International (Hong Kong) Limited and Haitong International Securities Company Limited are the Associate Bookkeepers and Associate Principal Officers. ABCI Capital Limited is the Associate Bookrunner. ABCI Securities Company Limited and Livermore Holdings Limited are the co-manager.

About ANE (Cayman) Inc. (Stock Code: 9956)

ANE (Cayman) Inc. (“ANE”), whose predecessor was founded in June 2010 in Shanghai, is an express freight network operator with nationwide coverage. With the mission of “creating endless possibilities with logistics services”, ANE, as a leading provider of LTL services (“LTL”), provides comprehensive and timely freight transportation services to operate a network of Leading Express Freight in Chinese LTL Market, According to Freight Partner Platform Creating Significant Network Effects, Continuous Technology Innovation and Digitized Operation and Customer-Centric Product Offerings with High Quality of Service . As of April 30, 2021, ANE had 151 self-managed sorting centers across China, with a self-managed fleet of approximately 2,400 large-capacity tractor units and more than 3,600 trailers. With approximately 29,400 freight partners and freight agents, our express freight network serves over 3.6 million shippers, including online merchants, manufacturers, wholesalers, retailers and individuals overall. of the commercial landscape in China, covering about 96% of counties and townships, as of April 30, 2021. In terms of total cargo volume, ANE has 10.2 million tons of total cargo volume and a market share of 17, 3% in 2020 among all express freight networks in China.

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