SOCAR IPO: Another Absurd Valuation
This post details the terms of the SOCAR IPO and discusses the irrational valuation done by the bankers, considering that the IPO prospectus...
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Grab (GRAB US) - Mapping Out a More Prudent Future
Grab continues to innovate and adapt to more challenging times, with a focus on moving toward profitability with ongoing efforts to reduce...
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The Week That Was in ASEAN@Smartkarma - Bank Mandiri, Thai Life IPO, and Saratoga Unlocking Value
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...
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GoTo: Growth in Top Line Doesn't Mean Improvement in Profitability
Though GoTo's gross income saw strong growth in 1Q2022, gross margins show no improvement alongside worsening operating losses. Operating costs are...
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Softbank Group - Didi Relief and ZME Pain Highlight Multiple Potential Outcomes
Good news on Didi and recent gains for Coupang and Goto highlight the potential for Vision Fund companies to re-rate although the delisting of...
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