Kuke Music Holding Limited Announces Pricing of Initial Public Offering

BEIJING, Jan. 12, 2021 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company"), a leading provider of classical music licensing, subscription and education services in China, today announced the pricing of its initial public offering of 5,000,000 American Depositary Shares ("ADSs"), each representing one Class A ordinary share of the Company, at a price of US$10.00 per ADS, which translates to a total offering size of US$50.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange on January 12, 2021, under the symbol "KUKE." The closing of the offering is expected to occur on January 14, 2021, subject to the satisfaction of customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 750,000 additional ADSs at US$10.00 per ADS.

Deutsche Bank Securities Inc., US Tiger Securities, Inc, and AMTD Global Markets Limited are acting as representatives of underwriters for the proposed offering. China Securities (International) Corporate Finance Company Limited and Valuable Capital Limited are acting as underwriters.

This offering is being made only by means of a prospectus that forms part of the effective registration statement. A copy of the final prospectus relating to the offering, when available, may be obtained from (i) Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York 10005, U.S., or by calling [phone], or by email at [e-mail]; (ii) US Tiger Securities, Inc at 437 Madison Ave 27th Floor, New York, NY 10022, United States, or by calling [phone], or by email at [e-mail]; and (iii) AMTD Global Markets Limited at 23/F-25/F, Nexxus Building, 41 Connaught Road Central, Hong Kong, or by calling [phone], or by email at [e-mail]; (iv) China Securities (International) Corporate Finance Company Limited at 18/F, Two Exchange Square, 8 Connaught Place, Central, Hong Kong, or by calling [phone], or by email at [e-mail]; (v) Valuable Capital Limited at Room 2807-09, 28th Floor, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, or by calling [phone], or by email at [e-mail].

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on January 11, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking Statements

This press release contains forward looking statements, including statements regarding the initial public offering. These statements are not historical facts but rather are based on Kuke's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward looking statements as a result of a number of factors, including those in Kuke's registration statement filed with the Securities and Exchange Commission.

About Kuke Music Holding Limited

Kuke Music Holding Limited ("Kuke") is the leading provider of classical music licensing, subscription, and education services in China. As of December 31, 2019, Kuke had the largest library of classical music content in China and, in 2019, Kuke was the largest classical music licensing service provider and the second largest online classical music subscription service provider in China, according to Frost & Sullivan. Kuke leverages its rich and diverse content offerings and deep expertise in music education to offer innovative and efficient smart music education solutions, which primarily consist of its proprietary Kuke smart pianos, Kuke smart teaching systems and Kukey courses. Kuke is also the organizer of several live classical musical events in China, including the Beijing Music Festival, which is one of the most renowned musical events in the world. Through these three highly synergistic business lines, Kuke has formed a thriving content-centric ecosystem, positioning it well to continuously provide its customers with differentiated value propositions.

Investor Relations Contact

Kuke Music Holding Limited
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SOURCE Kuke Music Holding Limited