Aqua Capital Strategy Limited Demonstrates Exceptional Asset Allocation Capabilities, Propelling "TUHU Car" to a Successful Listing on the Main Board of HKEX

William Lo
Sep 14, 2023
2 min read

(Hong Kong, 14 September 2023) – Aqua Capital Strategy Limited ("Aqua Capital" or the "Group") is pleased to announce today that TUHU Car Inc. ("TUHU Car", Stock Code: 9690.HK), a portfolio company of Forward Investment for which the Group acts as the Investment Advisor, has officially been listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX").

The Group played a pivotal professional advisory role during TUHU Car's critical financing stages. Forward Investment executed a forward-looking strategic deployment through the Series E financing, with a cumulative capital injection of approximately US$42 million. Upon the completion of the listing, Forward Investment holds an equity interest of approximately 1.23% in TUHU Car.

Based on the offer price on the first day of listing, the overall market capitalization of TUHU Car reached approximately HK25 billion.Calculated based on this market capital is action, the market value of the shares held by Forward Investment amounts to approximately HK308 million. This successful listing not only highlights TUHU Car's market position as a leading independent automotive service platform in China, but also serves as a strong testament to Aqua Capital's exceptional professional foresight in capturing high-growth sectors and executing precise asset pricing.

A spokesperson for Aqua Capital stated: "The Group extends its sincere congratulations to TUHU Car on its successful entry into the international capital market. As a professional investment advisor, the Group has always been committed to discovering industry leaders with the potential for digital transformation. This successful listing is a powerful proof of the Group's ability to create long-term value for investors and achieve steady asset growth. Looking ahead, we will continue to make forward-looking strategic deployments for long-term value, generating sustainable returns for our diversified investment portfolios."

Attachment Notice: 20230914 TUHU