IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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<div><p><a href="https://www.smartkarma.com/entities/pexip-as" target="_blank" data-smartkarma-citation="entities:28952:1" rel="noopener">Pexip (PEP NO)</a> is a Norwegian videoconferencing company and is a <a href="https://www.smartkarma.com/entities/zoom-video-communications-inc" target="_blank" data-smartkarma-citation="entities:28029:1" rel="noopener">Zoom Video Communications Inc (ZM US)</a> rival. Pexip has set its IPO price at NOK63 which implies a market cap of NOK6.3 billion ($613 million). Pexip will raise gross proceeds of up to NOK1,071 million ($104 million) through a primary raise. A secondary sale from selling shareholders will raise a similar amount.  The book-building period for the institutional offering will run from 5 May to 12 May.</p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/pexip-ipo-initiation-zoom-zoom-splutter" target="_blank" rel="noopener">our initiation note</a>, we stated that while Pexip is a solid company in its own right, we believe Pexip’s fundamentals are second-best compared to Zoom and will largely appeal to investors seeking a cheaper Zoom play. Overall, our valuation analysis suggests that the IPO price is fair and reasonable.</p></div></div></div>

Pexip (PEP NO) is a Norwegian videoconferencing company and is a Zoom Video Communications Inc (ZM US) rival. Pexip has set its IPO price at NOK63 which implies a market cap of NOK6.3 billion ($613 million). Pexip will raise gross proceeds of up to NOK1,071 million ($104 million) through a primary raise. A secondary sale from selling shareholders will raise a similar amount.  The book-building period for the institutional offering will run from 5 May to 12 May.In our initiation note, we stated that while Pexip is a solid company in its own right, we believe Pexip’s fundamentals are second-best compared to Zoom and will largely appeal to investors seeking a cheaper Zoom play. Overall, our valuation analysis suggests that the IPO price is fair and reasonable.

<p><a href="https://www.smartkarma.com/entities/pexip-as" target="_blank" data-smartkarma-citation="entities:28952:1" rel="noopener">Pexip (PEP NO)</a> is a Norwegian videoconferencing company and is a <a href="https://www.smartkarma.com/entities/zoom-video-communications-inc" target="_blank" data-smartkarma-citation="entities:28029:1" rel="noopener">Zoom Video Communications Inc (ZM US)</a> rival. Pexip has announced that it will seek a listing on the Oslo Stock Exchange. Pexip aims to raise $200 million, out of which $100 million is a primary raise, according to press reports. </p><div class="content-highlight"><p>Pexip is benefitting from the twin tailwinds of the covid-19 outbreak forcing millions of people to work from home and enterprises seeking a more secure alternative to Zoom. There is a whiff of opportunism about the timing of the IPO as Zoom shares are up a massive 135% YTD. While Pexip is a solid company in its own right, we believe Pexip’s fundamentals are second-best compared to Zoom and will largely appeal to investors seeking a cheaper Zoom play.</p></div>

Pexip (PEP NO) is a Norwegian videoconferencing company and is a Zoom Video Communications Inc (ZM US) rival. Pexip has announced that it will seek a listing on the Oslo Stock Exchange. Pexip aims to raise $200 million, out of which $100 million is a primary raise, according to press reports. Pexip is benefitting from the twin tailwinds of the covid-19 outbreak forcing millions of people to work from home and enterprises seeking a more secure alternative to Zoom. There is a whiff of opportunism about the timing of the IPO as Zoom shares are up a massive 135% YTD. While Pexip is a solid company in its own right, we believe Pexip’s fundamentals are second-best compared to Zoom and will largely appeal to investors seeking a cheaper Zoom play.

Pexip IPO Initiation: Zoom, Zoom, Splutter?

Norway

Pexip Holding ASA provides technology hardware. The Company offers communication equipment for virtual meeting such as video conferencing. Pexip Holding serves customers worldwide.

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Pexip (PEXIP NO)

Pexip IPO: Valuation Insights

Pexip (PEP NO) is a Norwegian videoconferencing company and is a Zoom Video Communications Inc (ZM US) rival. Pexip has set its IPO price at NOK63...

Arun George

Pexip IPO Initiation: Zoom, Zoom, Splutter?

Pexip (PEP NO) is a Norwegian videoconferencing company and is a Zoom Video Communications Inc (ZM US) rival. Pexip has announced that it will seek...

Arun George

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