WM Tech IPO Initiation: Food for Thought
WM Tech has filed for an HKEx IPO to raise potentially $1 billion, according to press reports. Overall, we believe that WM Tech’s fundamentals...
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Tencent Music Entertainment Buyback– Are Archegos Hit Stocks Cheap Enough?
A number of US ADR stocks were hit hard over the past week, apparently driven by a liquidation of a US hedge fund. Tencent Music (TME US) shares...
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Bairong IPO Trading - Strong Overall Demand but Comes with Large Retail Allocation
Bairong raised around US$508m in its Hong Kong IPO. We have covered various aspects of the deal in our earlier notes. In this note, we will talk...
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Tencent Music Announces US$1bn Buyback After Shares Dip Double-Digit
We would recommend making an entry at the current multiple as we believe the announced buyback will likely help share price to move up in the short...
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China ADRs- Blocks, Liquidation, Buyback - Implications
On 25th Mar 2021, we wrote about the knee jerk correction in some of the China ADRs. Since then the ADRs have corrected further. In this note, we...
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