Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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Canvest Environmental Protection Group / Equity Capital Markets

Guangdong based Canvest Environmental, a leading WTE operator in Guangdong province, is filing for IPO, looking for equity to fund its project under construction.&nbsp;Based on our proprietary model and our judgement, we would like to avoid the deal. The valuation is too rich compared to its peers, despite a relatively better operation amongst small operator peers. The company is also closed held by a family (owned by the family of its chairlady) and private equity fund post listing.&nbsp; In the long run, however, we would accumulate if the valuation is appealing and management shows solid execution in its upcoming projects.

Guangdong based Canvest Environmental, a leading WTE operator in Guangdong province, is filing for IPO, looking for equity to fund its project under construction.&nbsp;Based on our proprietary model and our judgement, we would like to avoid the deal. The valuation is too rich compared to its peers, despite a relatively better operation amongst small operator peers. The company is also closed held by a family (owned by the family of its chairlady) and private equity fund post listing.&nbsp; In the long run, however, we would accumulate if the valuation is appealing and management shows solid execution in its upcoming projects.

Canvest Environmental IPO: leading regional WTE operator with solid pipeline to drive growth, valuation too rich

Hong Kong

Canvest Environment Protection Group Company Limited focuses on the development, management, and operation of waste-to-energy plants. The Company's plants are located in China.

Canvest Environmental Protection Group (1381 HK)

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Canvest Environmental IPO: leading regional WTE operator with solid pipeline to drive growth, valuation too rich

Guangdong based Canvest Environmental, a leading WTE operator in Guangdong province, is filing for IPO, looking for equity to fund its project...

Ke Yan, CFA, FRM