Uxin Limited Announces Pricing of Initial Public Offering

BEIJING, June 27, 2018 (GLOBE NEWSWIRE) -- Uxin Limited ("Uxin" or the "Company"), the largest used car e-commerce platform in China, today announced the pricing of its initial public offering ("IPO") of 25 million American depositary shares ("ADSs"), each representing three ordinary shares, at a price to the public of $9 per ADS. Concurrent with the private placement of $175 million of convertible bonds, the total amount raised is $400 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Uxin has granted the underwriters a 30-day option to purchase up to an additional 3.75 million ADSs to cover over-allotments.  

The ADSs are expected to begin trading on the NASDAQ Stock Market on June 27, 2018 under the ticker symbol "UXIN." The offering is expected to close on July 2, 2018, subject to customary closing conditions.

Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, and China Renaissance Securities (Hong Kong) Limited are acting as joint book-running managers of this offering and as the representatives of the underwriters.

The offering of the securities is being made only by means of a prospectus forming a part of the effective registration statement.  When available, copies of the final prospectus related to this offering may be obtained from any of the following sources:

• Morgan Stanley & Co. International plc: 180 Varick Street, New York, NY, 10014, Room 214, 2nd Floor
• Goldman Sachs (Asia) L.L.C.; Address: 200 West Street, New York, New York 10282-2198
• J.P. Morgan Securities LLC; Address: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
• China International Capital Corporation Hong Kong Securities Limited; Address: 29th Floor, One International Finance Centre, I Harbour View Street Central, Hong Kong
• China Renaissance Securities (Hong Kong) Limited; Address: Units 8107-08, Level 81, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong

A registration statement on Form F-1 related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, 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.

About Uxin

Uxin (NASDAQ:UXIN) is the largest used car e-commerce platform in China by number of transactions and gross merchandise volume. Uxin's mission is to enable people to buy the car of their choice, no matter where they are located in China. Uxin allows consumers and dealers to buy and sell cars through an innovative integrated online and offline platform that addresses each step of the transaction and covers the entire value chain, including discovery, car inspection, title transfer, warranty, financing and insurance. Its services are underpinned by advanced proprietary technology; extensive data on buyers, sellers, vehicles and transactions; a highly scalable online platform; and an offline network of more than 670 service centers and 7 transaction centers in over 270 cities throughout China.

For investor enquiries, please contact:

Vivian Xu
Uxin Investor Relations
vivianxu@xin.com

For media enquiries, please contact:

Cindy Wang
Uxin Marketing
cindy@xin.com

Scott Patrick / Stephanie Heise
Brunswick Group 
(212) 333-3810
uxin@brunswickgroup.com