Millennial Housing Provider Q&K Launches NASDAQ IPO

Duff & Phelps congratulates Q&K International Group Limited (NASDAQ:QK) for its successful initial public offering (IPO) on NASDAQ on November 5.
 
A long-term apartment rental platform operating in major Chinese cities, Q&K leases apartments from individual landlords, renovates them into standardized furnished rooms and then re-leases them to young urban residents.
 
Q&K relies on technology at every step of its operational process–allowing it to build a widely-dispersed housing portfolio that still manages to operate at peak efficiency while delivering a superior user experience.

The company’s housing portfolio is built in cities that have a track record of sustaining jobs for younger workers. Within five years, the company hopes to grow into a dominant player in the housing market, providing homes for 10 million Chinese millennials.
 
On debut day, Q&K sold 2.7 million American depositary shares (ADS) at US$17.00 each, for a total offering size of approximately US$45.9 million. Proceeds from the IPO will be used to expand Q&K’s network of apartments and improve its technology and infrastructure. 
 
Duff & Phelps was engaged as a professional independent valuer for Q&K.

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