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58.Com Inc (WUBA.N)

WUBA.N on New York Stock Exchange

53.81USD
2 Jul 2020
Change (% chg)

$-0.02 (-0.04%)
Prev Close
$53.83
Open
$53.96
Day's High
$54.23
Day's Low
$53.70
Volume
409,203
Avg. Vol
247,248
52-wk High
$69.89
52-wk Low
$37.96

Latest Key Developments (Source: Significant Developments)

58.com Says Q1 Revenue Fell 15.5%
Friday, 26 Jun 2020 

June 26 (Reuters) - 58.Com Inc ::58.COM REPORTS FIRST QUARTER 2020 UNAUDITED FINANCIAL RESULTS.Q1 REVENUE FELL 15.5 PERCENT TO RMB 2.56 BILLION.QTRLY EPS OF RMB 5.41.QTRLY EARNINGS PER ADS RMB 10.82.AS OF MARCH 31, 2020, COMPANY HAD CASH AND CASH EQUIVALENTS, TERM DEPOSITS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS OF RMB12,547.3 MILLION.  Full Article

58.Com Enters Into A Definitive Agreement For Going-Private Transaction
Monday, 15 Jun 2020 

June 15 (Reuters) - 58.Com Inc ::58.COM ENTERS INTO A DEFINITIVE AGREEMENT FOR GOING-PRIVATE TRANSACTION.58.COM INC - DEAL FOR APPROXIMATELY US$8.7 BILLION.58.COM INC - MERGER CONSIDERATION REPRESENTS A PREMIUM OF 19.9% TO CLOSING PRICE OF CO'S ADSS ON APRIL 1, 2020.58.COM INC - ENTERED INTO A DEFINITIVE AGREEME WITH QUANTUM BLOOM GROUP LTD.58.COM - INTENDS TO FUND MERGER THROUGH COMBINATION OF CASH CONTRIBUTIONS FROM INVESTORS, ROLLOVER EQUITY CONTRIBUTIONS, PROCEEDS FROM LOAN FACILITIES.58.COM - CO'S BOARD, ACTING UPON UNANIMOUS RECOMMENDATION OF COMMITTEE OF INDEPENDENT & DISINTERESTED DIRECTORS ESTABLISHED BY BOARD APPROVED MERGER AGREEMENT.58.COM INC - CONSORTIUM OF INVESTORS TO ACQUIRE CO INCLUDES WARBURG PINCUS ASIA LLC, GENERAL ATLANTIC SINGAPORE FUND PTE. LTD..58.COM - EACH CLASS A, CLASS B ORDINARY SHARE WILL BE CANCELLED & CEASE TO EXIST IN EXCHANGE FOR RIGHT TO RECEIVE US$28.00 IN CASH WITHOUT INTEREST.58.COM - EACH OUTSTANDING ADS, SHARE REPRESENTED BY SUCH ADSS, WILL BE CANCELLED IN EXCHANGE FOR RIGHT TO RECEIVE US$56.00 IN CASH WITHOUT INTEREST.  Full Article

58.Com's Zhuan Zhuan Used-Goods Trading Platform To Acquire Operator Of Zhaoliangji App
Thursday, 7 May 2020 

May 7 (Reuters) - 58.Com Inc ::58.COM'S ZHUAN ZHUAN USED-GOODS TRADING PLATFORM TO ACQUIRE OPERATOR OF ZHAOLIANGJI APP.58.COM INC - ACQUIRE 100% EQUITY INTEREST IN SHENZHEN WANSHIFU TECHNOLOGY.58.COM INC - DEAL FOR COMBINATION OF CASH IN AMOUNT OF RMB360 MILLION & NEWLY ISSUED ZHUAN SPIRIT HOLDINGS LIMITED SHARES.  Full Article

Carmignac Says 58.Com Should Reject Preliminary Proposal Letter From Jinbo Yao, Others
Monday, 4 May 2020 

May 4 (Reuters) - CARMIGNAC::CARMIGNAC SAYS 58.COM BOARD SHOULD REJECT PRELIMINARY PROPOSAL LETTER FROM JINBO YAO, WARBURG PINCUS ASIA, GENERAL ATLANTIC SINGAPORE, OCEAN LINK.  Full Article

58.Com Announces Receipt Of A Preliminary Non-Binding Proposal To Acquire The Company
Thursday, 2 Apr 2020 

April 2 (Reuters) - 58.Com Inc ::58.COM ANNOUNCES RECEIPT OF A PRELIMINARY NON-BINDING PROPOSAL TO ACQUIRE THE COMPANY.58.COM INC - BOARD GOT A PRELIMINARY NON-BINDING PROPOSAL LETTER FROM OCEAN LINK PARTNERS LIMITED TO ACQUIRE ALL OF OUTSTANDING ORDINARY SHARES.58.COM INC - PROPOSAL FOR US$27.5 IN CASH PER CLASS A OR CLASS B ORDINARY SHARE.58.COM INC - BOARD PLANS TO EVALUATE PROPOSED TRANSACTION.58.COM -OCEAN LINK INTENDS TO FUND CONSIDERATION PAYABLE IN TRANSACTION WITH EQUITY CAPITAL.58.COM - OCEAN LINK INTENDS TO FUND CONSIDERATION PAYABLE IN TRANSACTION ADDITIONAL MEMBERS IT ACCEPTS INTO A CONSORTIUM OF BUYERS, POSSIBLY DEBT CAPITAL.  Full Article

58.Com Purchases B2B Online Used Car Auction Business From Uxin
Tuesday, 24 Mar 2020 

March 24 (Reuters) - Uxin Ltd ::58.COM PURCHASES B2B ONLINE USED CAR AUCTION BUSINESS FROM UXIN.58.COM INC - DEAL FOR US$105 MILLION.  Full Article

58.Com Reports Q4 Earning Per ADS Of $2.48
Thursday, 12 Mar 2020 

March 11 (Reuters) - 58.Com Inc ::58.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2019 UNAUDITED FINANCIAL RESULTS.QTRLY BASIC AND DILUTED EARNINGS PER ADS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS WERE RMB17.45 (US$2.50) AND RMB17.28 (US$2.48).SEES Q1 2020 REVENUE RMB 2.16 BILLION TO RMB 2.26 BILLION.Q4 REVENUE ROSE 15.1 PERCENT TO RMB 4.156 BILLION.Q4 NON-GAAP BASIC AND DILUTED EARNINGS PER ADS5 ATTRIBUTABLE TO ORDINARY SHAREHOLDERS WERE RMB32.61(US$4.67) AND RMB32.30(US$4.63).FOR Q1 OF 2020, 58.COM'S BUSINESS HAS BEEN SIGNIFICANTLY IMPACTED BY OUTBREAK OF COVID-19.  Full Article

58.Com Announces Entry Into Definitive Agreements To Convert Profit Participation Right And Acquire Shares Of Golden Pacer
Monday, 30 Sep 2019 

Sept 30 (Reuters) - 58.com Inc ::58.COM ANNOUNCES ENTRY INTO DEFINITIVE AGREEMENTS TO CONVERT PROFIT PARTICIPATION RIGHT AND ACQUIRE SHARES OF GOLDEN PACER.58.COM INC - UPON COMPLETION OF DEALS, CO WILL HOLD ABOUT 32.6% OF SHARE CAPITAL OF GOLDEN PACER.58.COM INC - GOLDEN PACER ENTERED INTO DEFINITIVE AGREEMENTS WITH UXIN LIMITED.58.COM INC - GOLDEN PACER WILL ACQUIRE LOAN FACILITATION RELATED BUSINESS FROM UXIN; UXIN WILL RECEIVE CERTAIN NUMBER OF SHARES OF GOLDEN PACER.  Full Article

58.Com Says Wei Ye Has Been Promoted To Chief Financial Officer
Tuesday, 10 Sep 2019 

Sept 9 (Reuters) - 58.com Inc ::58.COM CREATES NEW PRESIDENT OF INTERNATIONAL BUSINESS ROLE AND APPOINTS CHIEF FINANCIAL OFFICER.ZHOU WILL STEP DOWN FROM HIS POSITION AS CHIEF FINANCIAL OFFICER.WEI YE, CURRENT DEPUTY CHIEF FINANCIAL OFFICER OF COMPANY, HAS BEEN PROMOTED TO CHIEF FINANCIAL OFFICER.HAO ZHOU HAS BEEN APPOINTED PRESIDENT OF INTERNATIONAL BUSINESS.  Full Article

58.Com Reports Qtrly Diluted Earnings Per ADS RMB 4.65
Wednesday, 29 May 2019 

May 28 (Reuters) - 58.com Inc ::QTRLY NON-GAAP BASIC AND DILUTED EARNINGS PER ADS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS WERE RMB2.94 (US$0.44) AND RMB2.90 (US$0.43).58.COM REPORTS FIRST QUARTER 2019 UNAUDITED FINANCIAL RESULTS.Q1 REVENUE ROSE 22.5 PERCENT TO RMB 3.028 BILLION.SEES Q2 2019 REVENUE RMB 4.0 BILLION TO RMB 4.1 BILLION.TOTAL NUMBER OF PAYING BUSINESS USERS WAS APPROXIMATELY 3.4 MILLION IN Q1 OF 2019, A 7.5% INCREASE FROM SAME QUARTER OF 2018.QTRLY DILUTED EARNINGS PER ADS RMB4.65.58.COM- "WE ARE NOT IMMUNE TO CHINA'S SOFTENING ECONOMY GIVEN OUR EXPOSURE TO SEVERAL KEY LOCAL SERVICES CATEGORIES SUCH AS JOBS, HOUSING AND AUTO".AS OF MARCH 31, 2019, COMPANY HAD CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS OF RMB7,696.6 MILLION.  Full Article

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Domestic consolidation to drive Asia M&A revival during coronavirus fallout

HONG KONG/SINGAPORE Domestic consolidation will likely drive the recovery of dealmaking in the Asia-Pacific region, bankers said, after the novel coronavirus outbreak sent the value of mergers and acquisitions in the first half of 2020 to a seven-year low.