New Oriental Hong Kong Secondary - Might Be Relatively Small
New Oriental Education (EDU US) plans to raise around US$1bn in its secondary listing in Hong Kong. While the company has filed its PHIP, the exact...
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Divergent Q320 Results from SF Holding & YTO Express Show Pressure to Consolidate Is Building
SF Holding posted another set of strong results in Q3, while BABA-aligned YTO Express struggled (again). Our view: SF Holding's rising share of...
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Alibaba (BABA): Weakening Delivery Service, a Disadvantage Compared to JD.com
Alibaba allows the five delivery companies it invested in to cut the “to door” service to reduce costs. On the contrary, JD Logistics still...
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Ant Group IPO: Final Say. Strategics, Index Impact
Ant Group will raise USD35bn via an IPO in HK and Shanghai. We have covered various aspects of the deal in our earlier notes. In this note, I'll...
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Ant Group Pre-IPO: Updated Valuation. It’s Going Higher.
Ant Group plans to raise up to US$35bn via in its Hong Kong Exchange and Shanghai STAR board listing. We have covered various aspects of the deal...
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