ECM Weekly (20th Mar 2022) - JD.com, Tencent, Prosus, GoTo, Ferretti, Green Tea, Recbio, Abacus
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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GoTo Gojek Tokopedia IPO: Valuation Insights
Our valuation analysis suggests that the price range is aggressive and unattractive. We would give the IPO a pass. Books will close on 21 March....
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Sea Ltd.'s Money Machine Is Broken, Downside Is Not Fully Priced-In
With fundamentals deteriorating and the Fed signalling an aggressive rate hike outlook, Sea’s 33% move seems unwarranted. The downside potential is...
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GoTo IPO - Past Performance Hasn't All Been Great
GoTo aims to raise around US$1.25bn from a local listing, which will mainly be targeted at domestic investors. In this note, we look at the...
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Tencent (700 HK): Layoff and Penalty Before 4Q21 Result
Layoff rumors are spreading, which cover two departments and 10% of Tencent’s employees. China Banking Regulatory Commission (CBRC) will fine...
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