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Nov. 13, 2019, 10:42 a.m. EST

Qingke Announces Full Exercise of Over-Allotment Option in Initial Public Offering

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SHANGHAI, China, Nov 13, 2019 (GLOBE NEWSWIRE via COMTEX) -- Q&K International Group Limited /zigman2/quotes/214640171/composite QK -6.46% ("Qingke" or the "Company"), a leading technology-driven long-term apartment rental platform in China, today announced that the underwriters of the Company's initial public offering (the "IPO") have exercised in full their over-allotment option (the "Option") to purchase additional 405,000 American Depositary Shares ("ADSs"), each representing thirty Class A Ordinary Shares, of the Company at the initial offering price. The company's total shares outstanding are now 1,436,010,850 ordinary shares.

Morgan Stanley & Co. LLC and China International Capital Corporation Hong Kong Securities Limited acted as joint book runners for the offering.

Qingke's registration statement relating to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting:

Morgan Stanley & Co. LLC

Attention: Prospectus Department

180 Varick Street, 2nd Floor

New York, New York 10014

Phone: +1-866-718-1649

China International Capital Corporation Hong Kong Securities Limited

29th Floor, One International Finance Centre

1 Harbour View Street, Central

Hong Kong

Phone: +852-2872-2000

Email: g_prospectus@cicc.com.cn

About Qingke

Q&K International Group Limited /zigman2/quotes/214640171/composite QK -6.46% ("Qingke" or the "Company") is a leading technology-driven long-term apartment rental platform in China. The Company offers young, emerging urban residents conveniently-located, ready-to-move-in, and affordable branded apartments as well as facilitates a variety of value-added services. Qingke signs long-term leases with individual landlords in different locations in relatively inexpensive yet convenient locations and manages them centrally, leveraging its advanced IT and mobile technologies. Technology is at the core of Qingke's business and is applied to every step of its operational process from apartment sourcing, renovation, and tenant acquisition, to property management. The focus on technology enables Qingke to operate a large, dispersed, and fast-growing portfolio of apartments with high operational efficiency and deliver a superior user experience.

For more information, please visit http://ir.qk365.com .

/zigman2/quotes/214640171/composite
US : U.S.: Nasdaq
$ 14.48
-1.00 -6.46%
Volume: 7,318
Dec. 5, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$756.30 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/214640171/composite
US : U.S.: Nasdaq
$ 14.48
-1.00 -6.46%
Volume: 7,318
Dec. 5, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$756.30 million
Rev. per Employee
N/A
loading...
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