CTG Duty-Free H-Share Listing: Thoughts on First Day Trading
CTG has priced its HK IPO at HK$158 per share and we think shares are overvalued. We expect the shares to open weak given the not so great investor...
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China Tourism Group A/H Trading - Decent Support from Long-Only but Minimal Retail Participation
China Tourism Group Duty Free Corporation Limited (CDF) raised around US$2.4bn in its H-share listing in Hong Kong, after pricing its IPO at HKD158...
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CTG Duty Free H Share Listing: Valuation Insights
Our valuation analysis suggests that the A Shares are trading close to fair value and the H Share valuation is unattractive compared to peers. We...
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Amorepacific Stub: Reversion Trading on Current Diversion Ahead of 2Q Earnings Release
This post examines the current price diversion of the Amorepacific stub and discusses the entry timing for reversion trading ahead of the 2Q...
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FSN E-Commerce (Nykaa) IPO - Beauty Showing Signs of Improvement but Its Too Expensive for Our Taste
FSN E-commerce (Nykaa) aims to raise around US$720m in its Indian IPO. In this note, we will look at the recent updates and valuation.
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