GDS Holdings HK Secondary Trading- Strong Coverage but No Discount and Volatile Markets Won't Help
Gds Holdings (Adr) (GDS US) raised around US$1.6bn in its secondary listing in Hong Kong. In this note, I'll talk about the deal dynamics and...
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JD Health: Looking Beyond the Obvious
This Insight provides an in-depth view of JD Health in the context of a "penetration story" with a focus on the market opportunity to inform...
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Ant Group IPO - Index Inclusion Quick Note: Now HSCEI Wants to Gate Crash the Party
Ant Group has almost raised around USD35bn via a dual listing. We have covered various aspects of the deal in our earlier notes. In this note, I'll...
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New Oriental Hong Kong Secondary - Might Be Relatively Small
New Oriental Education (EDU US) plans to raise around US$1bn in its secondary listing in Hong Kong. While the company has filed its PHIP, the exact...
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Divergent Q320 Results from SF Holding & YTO Express Show Pressure to Consolidate Is Building
SF Holding posted another set of strong results in Q3, while BABA-aligned YTO Express struggled (again). Our view: SF Holding's rising share of...
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