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.

Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/yeahka-limited" target="_blank" data-smartkarma-citation="entities:28436:1" rel="noopener">Yeahka Limited (9923 HK)</a> is a leading payment-based technology platform in China. Yeahka will commence trading on Monday, 1 June. Yeahka priced its IPO at HK$16.64, at the top-end of the indicative price range of HK$12.64-16.64 per share. Yeahka raised net proceeds of HK$1,528.1 million ($197 million).</p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/yeahka-ipo-initiation-cashing-in" target="_blank" rel="noopener">our initiation note</a>, we stated that peeling back the benefit of market growth, Yeahka’s fundamentals offer more positives than negatives. In light of Yeahka's attractive fundamentals and the improving sentiment towards global payment peers (based on the multiple expansion), we think that the IPO price is attractive. </p></div></div></div>

Yeahka Limited (9923 HK) is a leading payment-based technology platform in China. Yeahka will commence trading on Monday, 1 June. Yeahka priced its IPO at HK$16.64, at the top-end of the indicative price range of HK$12.64-16.64 per share. Yeahka raised net proceeds of HK$1,528.1 million ($197 million).In our initiation note, we stated that peeling back the benefit of market growth, Yeahka’s fundamentals offer more positives than negatives. In light of Yeahka's attractive fundamentals and the improving sentiment towards global payment peers (based on the multiple expansion), we think that the IPO price is attractive. 

<p><a href="https://www.smartkarma.com/entities/tyro-payments" target="_blank" data-smartkarma-citation="entities:28393:1" rel="noopener">Tyro Payments (TYRO AU)</a> is a provider of payment infrastructure and services to Australian SMEs. Tyro has launched its IPO with an indicative price range of A$2.50-2.75 per share to raise gross proceeds of A$291.1-302.7 million. The final price will be announced on 5 December. </p><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/tyro-payments-ipo-initiation-the-penny-drops" target="_blank" rel="noopener">our initiation note</a>, we noted that Tyro’s fundamentals are mixed, giving ammunition to both bulls and bears. Our valuation analysis suggests that at the low-end of the IPO price range, Tyro trades at a fair value for the forecasted revenue growth it delivers. Consequently, we would participate most at the low-end of the proposed IPO price range.  </p></div>

Tyro Payments (TYRO AU) is a provider of payment infrastructure and services to Australian SMEs. Tyro has launched its IPO with an indicative price range of A$2.50-2.75 per share to raise gross proceeds of A$291.1-302.7 million. The final price will be announced on 5 December. In our initiation note, we noted that Tyro’s fundamentals are mixed, giving ammunition to both bulls and bears. Our valuation analysis suggests that at the low-end of the IPO price range, Tyro trades at a fair value for the forecasted revenue growth it delivers. Consequently, we would participate most at the low-end of the proposed IPO price range.  

United Kingdom

PayPoint Plc is the national network for collecting payments 'over the counter'. The Company owns PayPoint outlets located in newsagents, convenience stores, supermarkets, and forecourts across the UK, and a wide range of payments can be made such as electricity, gas, water, local taxes, and cable bills.

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PayPoint PLC (PAY LN)

Yeahka IPO: Trading Debut

Yeahka Limited (9923 HK) is a leading payment-based technology platform in China. Yeahka will commence trading on Monday, 1 June. Yeahka priced its...

Arun George

Tyro Payments IPO: Fair Value

Tyro Payments (TYRO AU) is a provider of payment infrastructure and services to Australian SMEs. Tyro has launched its IPO with an indicative price...

Arun George

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