APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.<div class="content-highlight">
This week has been a lull in the ECM space again. Therefore, we decided to do some early IPO reviews on <a href="https://www.smartkarma.com/entities/24413" target="_blank" data-smartkarma-citation="entities:24413:1">China Feihe (FEIHE HK)</a> and <a href="https://www.smartkarma.com/entities/24009" target="_blank" data-smartkarma-citation="entities:24009:1">Bharat Road Networks (BHARAT IN)</a> which will likely launch soon. In particular, it was reported that Bharat Road Networks will IPO end of this month. We are also watching out for Dixon Technologies in India to launch in early September. 
We…
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The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.
This week has been a lull in the ECM space again. Therefore, we decided to do some early IPO reviews on China Feihe (FEIHE HK) and Bharat Road Networks (BHARAT IN) which will likely launch soon. In particular, it was reported that Bharat Road Networks will IPO end of this month. We are also watching out for Dixon Technologies in India to launch in early September. 
We…


Smartkarma: ECM Coverage Weekly Update (20 August 2017)

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

China Feihe, a leading infant formula milk player in China, is looking to raise USD300-400m of capital to fund its plant expansion in Canada and China. Feihe has been listed in the US and was privatized in 2013. In 2016, it attempted to raise USD600-800m but it didn't come to fruition. In this insight, we will cover the company's background, its privatization, the infant formula milk industry and compare the company to its peers. We aim to present to our readers information that is not well disclosed in the prospectus.

China Feihe, a leading infant formula milk player in China, is looking to raise USD300-400m of capital to fund its plant expansion in Canada and China. Feihe has been listed in the US and was privatized in 2013. In 2016, it attempted to raise USD600-800m but it didn't come to fruition. In this insight, we will cover the company's background, its privatization, the infant formula milk industry and compare the company to its peers. We aim to present to our readers information that is not well disclosed in the prospectus.

China Feihe IPO Preview: Goat Bless Infant Formula Milk?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Yashili International Holdings / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a> announced its controlling shareholder, <a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener">China Mengniu Dairy Co (2319 HK)</a>, is in discussions regarding its holdings in Yashili and several potential transactions.</li>
<li>If the transactions proceed, the potential privatisation offer is HK$1.20 per Yashili share, a 31.9% premium to the last close price of HK$0.91 (prior to the trading halt).</li>
<li>The potential transactions are subject to a number of pre-conditions and conditions. We think the potential offer is attractive.  </li>
</ul>



Yashili International Holdings (1230 HK) announced its controlling shareholder, China Mengniu Dairy Co (2319 HK), is in discussions regarding its holdings in Yashili and several potential transactions.
If the transactions proceed, the potential privatisation offer is HK$1.20 per Yashili share, a 31.9% premium to the last close price of HK$0.91 (prior to the trading halt).
The potential transactions are subject to a number of pre-conditions and conditions. We think the potential offer is attractive.  


Yashili’s Potential Pre-Conditional Privatisation Offer from Mengniu

China

China Feihe Limited manufactures and sells dairy products. The Company provides infant milk formula products processing, production, marketing, and other services. China Feihe also sells infant milk formula products on some electronic commerce platforms.

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China Feihe (6186 HK)

Smartkarma: ECM Coverage Weekly Update (20 August 2017)

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs. This week has been a...

Zhen Zhou, Toh

China Feihe IPO Preview: Goat Bless Infant Formula Milk?

China Feihe, a leading infant formula milk player in China, is looking to raise USD300-400m of capital to fund its plant expansion in Canada and...

Ke Yan, CFA, FRM

Yashili’s Potential Pre-Conditional Privatisation Offer from Mengniu

Yashili announced that Mengniu is in discussions regarding its holdings in Yashili and several potential transactions, which could lead to a...

Arun George

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