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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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<p>HKBN is the largest residential fibre broadband provider in Hong Kong.&nbsp;While its a stable business, however, we don't like the deal given:</p><ul><li>The IPO scores on&nbsp;the borderline in our IPO Framework.</li><li>Its key shareholders are selling secondary shares.</li><li>The overall business grew well, however, valuation appears to be rich compared to its peers.</li><li>The operating environment is very competitive, despite the dominance of the company.</li></ul>

HKBN is the largest residential fibre broadband provider in Hong Kong.&nbsp;While its a stable business, however, we don't like the deal given:The IPO scores on&nbsp;the borderline in our IPO Framework.Its key shareholders are selling secondary shares.The overall business grew well, however, valuation appears to be rich compared to its peers.The operating environment is very competitive, despite the dominance of the company.

HKBN IPO: solid fibre broadband business but rich valuation - AVOID

Hong Kong

HKBN Ltd., provides telephone voice and data communications services. The Company offers wireless internet service, IDD and IPTV service, local telephony services, and other value-added services.

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HKBN Ltd (1310 HK)

HKBN IPO: solid fibre broadband business but rich valuation - AVOID

HKBN is the largest residential fibre broadband provider in Hong Kong. While its a stable business, however, we don't like the deal given: The IPO...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)