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E-payment Company Lakala to IPO on Shenzhen's Growth Enterprise Board

Lakala Payment, 3/03/17

Legend Holdings recently announced that e-payment services company Lakala Payment, in which Legend Holdings controls a 31.38% stake, recently submitted an application with the China Securities Regulatory Commission (CSRC) to pursue an A-shares listing on the Shenzhen Stock Exchange's ChiNext growth enterprise board. The company's prospectus indicates that it plans to IPO by issuing up to 40.01 mln new shares amounting to at least 10% of total share capital.

The prospectus says that all funds raised through the IPO will be used for main business operations. The company is currently focused on a third-party payment industry project scheduled to unfold over the next three years, in which the company has invested RMB 200,000. Lakala Payment said that funds will be used to develop an integrated service platform using smart online-offline point of sale service systems to satisfy the needs of business users, increase user retention and activity, and support future growth in the payments industry.

Lakala Payment was established in January 2005 and has RMB 360 mln in registered capital. It specializes in providing point of sale services for businesses and individuals, as well as individual payment services and third-party payment derivative services.

Lakala Payment Revenue and Profit (Loss) (RMB/Bln)

Period201320142015Jan-Sep 2016
Profit (Loss)(0.127)(0.197)0.1230.212

Keywords: Internet IPO loss profit revenue Lakala e-payment CSRC Legend Holdings third-party payment ChiNext

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