ECM Weekly (7 June 2020) - JD & NetEase HK Bookbuild, Burning Rock & Nongfu Spring Valuation
Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. Hong Kong...
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JD Secondary Listing - Early to File but Late to Launch Puts It in a Peculiar Position
JD.com Inc (ADR) (JD US) is said to be aiming to raise US$3.75bn via its secondary offering in Hong Kong, which will be launched later...
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NetEase Secondary Listing: Capital Allocation and Balance Sheet Efficiency Views
NetEase Inc (NTES US) is looking to raise $2.6 billion through a Hong Kong secondary listing, which could rise to $3 billion if an overallotment...
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NetEase Secondary Listing - Doing a BeiGene Rather than a Baba, Risk Reward Shifting
NetEase Inc (NTES US) ADRs have risen by 8% since its launched its secondary offering on 1st Jun 2020, which I covered in NetEase Secondary...
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Pinduoduo: Inflated Top Line, Inflated Bottom Line, and Inflated GMV?
We believe Blue Orca’s concerns about Pinduoduo (PDD US) in its short-seller report from two years ago are still broadly valid. PDD continues to...
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