On December 14, Legend Capital portfolio company SF Intra-city (09699.HK) successfully listed on the Hong Kong Stock Exchange (HKEx). SF Intra-city issued a total of 131 million shares at an issue price of HK$16.42 per share. The net proceeds from the global offering are approximately HK$2031.3 million.
SF Intra-city, the largest all-scenario third-party intracity delivery platform in China, has focused on the field of on-demand delivery services since 2016 and realized independent operations in 2019. It covers various distribution needs in the new consumption industry, including customized and standardized on-demand delivery services to merchants, and errands services to consumers, such as Deliver for Me, Fetch for Me, Purchase for Me and Solve for Me services. Leveraging on the open ecosystem and the intelligent information system integrating smart logistics and data, as well as the efficient transportation networks that covers the entire city, SF Intra-city is keen to meet diversified needs by providing users with on-demand logistics solutions featuring commercial distribution and daily pickup-delivery services.
Legend Capital invested in SF Intra-city in 2020 and has proactively provided value-added services in the improvement of SF Intra-city’s operation management and external resources matching.
Legend Capital stated that, “SF Intra-city is an indispensable infrastructure service provider in China’s on-demand delivery field. Led by Haijin Sun, the CEO of SF Intra-city, the team has achieved excellent growth in the past five years. SF Intra-city’s core competence lies in highly efficient business matching and coordination satisfying ‘multi-scenario demand’ as it enjoys a core business model as ‘technology-driven resource sharing platform’. Given that SF Express’s nationwide delivery network is high capital and technique-supported and the company has taken decades of efforts to establish the image of ‘high-quality service’ among merchants and individuals, SF Intra-city, as a subsidiary has the innate advantage with well-developed foundation. We strongly believe that SF Intra-city’s going public will be conducive to corporate governance, talent development and capital usage in the future, and provide a broader development space for SF Intra-city.”