APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Equity Capital Markets

<p><em>The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.</em></p><div class="content-highlight"><h2>IPOs</h2><p><a href="https://www.smartkarma.com/entities/26971" target="_blank" data-smartkarma-citation="entities:26971:1">Qualitas Medical Group, (QMGL SP)</a> which was supposed to price and list this week has said that it to delay pricing its IPO as the company is still in talks with anchor investors; potentially adding the company into Singapore's list of shelved IPOs. Undeterred, <a href="https://www.smartkarma.com/entities/26992" target="_blank" data-smartkarma-citation="entities:26992:1">Summit Power Intl (1579715D SP)</a> will be going ahead with its IPO, looking to list on the 30th of April.</p><p>In other South East Asian countries, activity is picking up like we mentioned last week. <a href="https://www.smartkarma.com/entities/26995" target="_blank" data-smartkarma-citation="entities:26995:1">Surya Pertiwi PT (1583120D IJ)</a> and <a href="https://www.smartkarma.com/entities/27000" target="_blank" data-smartkarma-citation="entities:27000:1">Medikaloka Hermina PT (1536046D IJ)</a> launched its IPO in Indonesia this week while in Thailand, a rare mega IPO of an old conglomerate, <a href="https://www.smartkarma.com/entities/27004" target="_blank" data-smartkarma-citation="entities:27004:1">Osotspa Co Ltd (0227009Z TB)</a> has filed for IPO too. Vietnam's very own mega IPO for the year, <a href="https://www.smartkarma.com/entities/27005" target="_blank" data-smartkarma-citation="entities:27005:1">Vietnam Technological &amp; Comm (TCB VN)</a> , will be ending its bookbuild next week.</p><p><a href="https://www.smartkarma.com/entities/26735" target="_blank" data-smartkarma-citation="entities:26735:1">Ping An Healthcare And Techn (1573582D HK)</a>,  or more commonly known as the Ping An Good Doctor app, has already launched its pricing details and we will be following up with a quick note this week. We have previously written on it in <a href="https://www.smartkarma.com/insights/ping-an-healthcare-and-tech-pre-ipo-review-first-to-list-but-not-the-only-one" target="_blank" data-smartkarma-citation="insights:17368">Ping An Healthcare and Tech Pre-IPO Review - First to List but Not the Only One</a>.</p><h2>Placements</h2><p>Placements this week has been a series of hits and misses. <a href="https://www.smartkarma.com/entities/8570" target="_blank" data-smartkarma-citation="entities:8570:1">Nextdc Ltd (NXT AU)</a>'s capital raise priced at no discount to last close and still managed to hit an intraday high of 8% on the first day of close. It has since retraced slightly below its pre-placement price which makes sense considering its acquisitions will not be near-term accretive. For <a href="https://www.smartkarma.com/entities/3617" target="_blank" data-smartkarma-citation="entities:3617:1">Invincible Investment Corp (8963 JP)</a> , we were right about negative sentiment from the unexpected selldown by Fortress after the change in ownership.</p><p>Lastly, our bullish call on <a href="https://www.smartkarma.com/entities/18363" target="_blank" data-smartkarma-citation="entities:18363:1">Evolution Mining Ltd (EVN AU)</a> was proven wrong. We warned about the potential poor sentiment as a result of La Mancha going back on its February statement that it will hold on to its 20% shareholding in our insight but decided that its long track record of outperformance in short-term and long-term could continue in this placement. But it seems like the market seems to understand that the selldown by La Mancha's selldown to lock in the price at current valuation suggests that EVN is fully valued, at least in the short term.</p><h2>A walk through China this week!</h2><p>I will be working from China this week and today I am at the Shanghai's naked Hub (裸心社), co-working space which WeWork is reportedly looking to acquire it early this year. I will try to give more view on what I see and experience on the ground from China. So far, Shanghai has been an amazing city! </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/050/367/original/IMG_0972%20%281%29.JPG?1524457858" class="editor-image img-responsive" data-smartkarma-image-id="50367"></figure><p></p></div><h2>Accuracy Rate:</h2><p>Our overall accuracy rate is<strong> 72.1% for IPOs </strong>and<strong> 63.1% for Placements.</strong></p><p><em>(Performance measurement criteria is explained at the end of the note)</em></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/050/235/original/Total-Deals-Since-Inception-Accuracy-Rate-Since-Inception-_chartbuilder%20%281%29.png?1524270707" class="editor-image img-responsive" data-smartkarma-image-id="50235"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/050/236/original/2018-Total-Deals-2018-Accuracy-Rate-_chartbuilder.png?1524270728" class="editor-image img-responsive" data-smartkarma-image-id="50236"></figure><h2><strong>New IPO filings this week<br><br></strong></h2><ul><li><strong>PT Medikaloka Hermina (Indonesia, ~US$300m)</strong></li><li><strong>PT Surya Pertiwi (Indonesia, ~US$100m)</strong></li><li><strong>Osothspa (Thailand, &gt;US$100m)</strong></li></ul><p>Below is a snippet of our IPO tool on upcoming events for the next week. Our IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool <a href="https://www.smartkarma.com/tools/ipos" target="_blank">here </a>or through the tools menu.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/050/237/original/weeky.PNG?1524272753" class="editor-image img-responsive" data-smartkarma-image-id="50237"></figure><div class="content-caption">Source: Smartkarma</div><h2><strong>News on Upcoming IPOs</strong></h2><ul><li><a href="https://www.bangkokpost.com/business/news/1448182/osotspa-has-high-hopes-for-ipo" target="_blank">Osotspa has high hopes for IPO</a></li><li><a href="https://www.dealstreetasia.com/stories/malaysia-maybank-spinoff-insurance-unit-96431/?utm_source=DealStreetAsia%3A+The+Daily+Brief&amp;utm_campaign=f91aa33cd4-RSS_EMAIL_CAMPAIGN+%2A%7CRSSFEED%3ADATE%3A+F+j%2C+Y%7C%2A&amp;utm_medium=email&amp;utm_term=0_0fa50e40c1-f91aa33cd4-239139321&amp;mc_cid=f91aa33cd4&amp;mc_eid=28c8c22a08" target="_blank">Malaysia’s Maybank said to be preparing insurance unit spinoff</a></li><li><a href="https://www.dealstreetasia.com/stories/india-carlyle-metropolis-ipo-96232/?utm_source=DealStreetAsia%3A+The+Daily+Brief&amp;utm_campaign=068644bfdd-RSS_EMAIL_CAMPAIGN+%2A%7CRSSFEED%3ADATE%3A+F+j%2C+Y%7C%2A&amp;utm_medium=email&amp;utm_term=0_0fa50e40c1-068644bfdd-239139321&amp;mc_cid=068644bfdd&amp;mc_eid=28c8c22a08" target="_blank">India: Carlyle-backed diagnostic chain Metropolis considers $230m IPO</a></li><li><a href="http://www.businesstimes.com.sg/consumer/tencent-backed-fashion-app-seeks-us4b-ipo" target="_blank">Tencent- backed fashion app seeks US$4b IPO</a></li><li><a href="https://timesofindia.indiatimes.com/business/india-business/lite-bite-foods-plans-ipo-to-tap-capital-market/articleshow/63772367.cms" target="_blank">Lite Bite Foods plans IPO to tap capital market</a></li></ul><h2><strong>Smartkarma Community's Analyses on Upcoming IPOs<br><br></strong></h2><ul><li><a href="https://www.smartkarma.com/insights/ipo-radar-osothspa-the-thai-energy-giant-behind-m-100-m-150" target="_blank" data-smartkarma-citation="insights:19538">IPO Radar: Osothspa, The Thai Energy Giant Behind M-100/M-150</a></li><li><a href="https://www.smartkarma.com/insights/ipo-radar-m-vision-the-guys-who-bought-us-the-iconic-mobile-expo" target="_blank" data-smartkarma-citation="insights:19389">IPO Radar: M Vision, The Guys Who Bought Us the Iconic Mobile Expo</a></li><li><a href="https://www.smartkarma.com/insights/slb-development-ltd-tough-justification-for-premium-ipo-valuation" target="_blank" data-smartkarma-citation="insights:19386">SLB Development Ltd – Tough Justification for Premium IPO Valuation</a></li><li><a href="https://www.smartkarma.com/insights/sejong-medical-ipo-preview-part-1" target="_blank" data-smartkarma-citation="insights:19556">Sejong Medical IPO Preview (Part 1)</a></li></ul><h2>List of pre-IPO Coverage on Smartkarma</h2><div><table class="table table-striped"><tbody><tr><td>Name</td><td>Insight</td></tr><tr><td colspan="2"><strong>Hong Kong</strong></td></tr><tr><td>Cenmintang</td><td><a href="https://www.smartkarma.com/insights/cenmintang-ipo-preview-a-beverage-and-snack-play-whose-growth-is-hard-to-grasp" target="_blank" data-smartkarma-citation="insights:9282">Cenmintang IPO Preview: A Beverage and Snack Play Whose Growth Is Hard to Grasp</a></td></tr><tr><td>China Feihe</td><td><a href="https://www.smartkarma.com/insights/china-feihe-ipo-preview-goat-bless-infant-formula-milk" target="_blank" data-smartkarma-citation="insights:12751">China Feihe IPO Preview: Goat Bless Infant Formula Milk?</a></td></tr><tr><td>Bank of Jiujiang</td><td><a href="https://www.smartkarma.com/insights/scraping-the-bottom-of-the-barrel-bank-of-jiujiang" target="_blank">Scraping the Bottom of the Barrel: Bank of JiuJiang</a></td></tr><tr><td>Ganfeng Lithium</td><td><a href="https://www.smartkarma.com/insights/ganfeng-lithium-ipo-present-perfect-future-tense" target="_blank" data-smartkarma-citation="insights:18250">Ganfeng Lithium IPO: Present Perfect, Future Tense</a></td></tr><tr><td>Jiangxi Bank</td><td><a href="https://www.smartkarma.com/insights/jiangxi-bank-ipo-preview-strong-growth-offset-by-weak-asset-quality" target="_blank" data-smartkarma-citation="insights:18006">Jiangxi Bank IPO Preview: Strong Growth Offset by Weak Asset Quality</a></td></tr><tr><td>Ping An Health</td><td><a href="https://www.smartkarma.com/insights/ping-an-healthcare-and-tech-pre-ipo-review-first-to-list-but-not-the-only-one" target="_blank" data-smartkarma-citation="insights:17368">Ping An Healthcare and Tech Pre-IPO Review - First to List but Not the Only One</a></td></tr><tr><td>Ping An Health</td><td><a href="https://www.smartkarma.com/insights/ping-an-good-doctor-ipo-preview-vital-signs-deteriorating" target="_blank" data-smartkarma-citation="insights:17390">Ping An Good Doctor IPO Preview: Vital Signs Deteriorating</a></td></tr><tr><td>Shandong Gold</td><td><a href="https://www.smartkarma.com/insights/shandong-gold-mining-ipo-preview-largest-pure-play-gold-miner-to-be-listed-in-hong-kong" target="_blank" data-smartkarma-citation="insights:17456">Shandong Gold Mining IPO Preview: Largest Pure Play Gold Miner to Be Listed in Hong Kong</a></td></tr><tr><td>Shandong Gold</td><td><a href="https://www.smartkarma.com/insights/shandong-gold-ipo-buyers-beware" target="_blank" data-smartkarma-citation="insights:17689">Shandong Gold IPO: Buyers Beware</a></td></tr><tr><td>Qilu Express</td><td><a href="https://www.smartkarma.com/insights/qilu-expressway-ipo-preview-concentration-risk-and-recent-news-may-mean-discount-to-peers" target="_blank" data-smartkarma-citation="insights:18624">Qilu Expressway IPO Preview: Concentration Risk and Recent News May Mean Discount to Peers</a></td></tr><tr><td colspan="2"><strong>South Korea</strong></td></tr><tr><td>Bodyfriend</td><td><a href="https://www.smartkarma.com/insights/bodyfriend-ipo-preview-part-i-goodbye-osim-hello-bodyfriend" target="_blank">Bodyfriend IPO Preview: Part I (Goodbye Osim, Hello Bodyfriend) Bodyfriend) </a></td></tr><tr><td>CJ OliveNetworks</td><td><a href="https://www.smartkarma.com/insights/cj-olivenetworks-on-a-fast-track-to-an-ipo-in-2017" target="_blank">CJ OliveNetworks - On A Fast Track to an IPO in 2017? </a></td></tr><tr><td>Data Solution</td><td><a href="https://www.smartkarma.com/insights/datasolution-ipo-summary-questions-remain-on-growth-but-market-seems-excited" target="_blank" data-smartkarma-citation="insights:12519">Datasolution IPO Summary - Questions Remain on Growth, but Market Seems Excited</a></td></tr><tr><td>Gentle Monster</td><td><a href="https://www.smartkarma.com/insights/gentle-monster-ipo-a-monster-growth" target="_blank" data-smartkarma-citation="insights:8630">Gentle Monster IPO - A Monster Growth</a></td></tr><tr><td>Korea Exchange</td><td><a href="https://www.smartkarma.com/insights/korea-exchange-ipo-question-is-when-not-if" target="_blank">Korea Exchange IPO - Question Is When, Not If</a></td></tr><tr><td>Outin Futures</td><td><a href="https://www.smartkarma.com/insights/outin-futures-corp-ipo-preview-part-1" target="_blank" data-smartkarma-citation="insights:11212">Outin Futures Corp IPO Preview (Part 1)</a>,  <a href="https://www.smartkarma.com/insights/outin-futures-corp-ipo-valuations-part-2" target="_blank" data-smartkarma-citation="insights:11736">Valuations (Part 2)</a></td></tr><tr><td>Woowa Bro</td><td><a href="https://www.smartkarma.com/insights/woowa-brothers-corp-ipo-preview-part-1-the-most-popular-food-delivery-service-in-korea" target="_blank" data-smartkarma-citation="insights:11104">Woowa Brothers Corp IPO Preview (Part 1) - The Most Popular Food Delivery Service in Korea</a></td></tr><tr><td>V-One Tech</td><td><a href="https://www.smartkarma.com/insights/v-one-tech-ipo-summary-another-oled-stock-ipo" target="_blank" data-smartkarma-citation="insights:11689">V-One Tech IPO Summary - Another OLED Stock IPO</a>,  <a href="https://www.smartkarma.com/insights/v-one-tech-ipo-part-2-ipo-bookbuilding-results" target="_blank" data-smartkarma-citation="insights:11806">IPO Bookbuilding Results</a></td></tr><tr><td>Zinus</td><td><a href="https://www.smartkarma.com/insights/zinus-ipo-preview-part-1-an-amazing-comeback-story-1-mattress-brand-on-amazon" target="_blank" data-smartkarma-citation="insights:13698">Zinus IPO Preview (Part 1) - An Amazing Comeback Story (#1 Mattress Brand on Amazon)</a></td></tr><tr><td colspan="2"><strong>India</strong></td></tr><tr><td>CMS Info</td><td><a href="https://www.smartkarma.com/insights/cms-info-systems-pre-ipo-review-when-a-pe-sells-to-another-pe-only-one-gets-the-timing-right" target="_blank" data-smartkarma-citation="insights:15987">CMS Info Systems Pre-IPO Review - When a PE Sells to Another PE... Only One Gets the Timing Right</a></td></tr><tr><td>CreditAccess Gram</td><td><a href="https://www.smartkarma.com/insights/creditaccess-grameen-pre-ipo-review-lowest-opex-ratio-amongst-mfi-peers" target="_blank" data-smartkarma-citation="insights:17719">CreditAccess Grameen Pre-IPO Review - Lowest Opex Ratio Amongst MFI Peers</a></td></tr><tr><td>CreditAccess Gram</td><td><a href="https://www.smartkarma.com/insights/creditaccess-grameen-ipo-preview-good-but-not-the-best" target="_blank" data-smartkarma-citation="insights:17878">CreditAccess Grameen IPO Preview: Good but Not the Best</a></td></tr><tr><td>NSE</td><td><a href="https://www.smartkarma.com/insights/national-stock-exchange-pre-ipo-review-bigger-better-stronger-but-a-little-too-fast-for-some" target="_blank">National Stock Exchange Pre-IPO Review - Bigger, Better, Stronger but a Little Too Fast for Some</a></td></tr><tr><td>NSE</td><td><a href="https://www.smartkarma.com/insights/nse-ipo-preview-not-only-fast-its-risky-and-expensive" target="_blank">NSE IPO Preview- Not Only Fast..its Risky and Expensive</a></td></tr></tbody></table></div>

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.IPOsQualitas Medical Group, (QMGL SP) which was supposed to price and list this week has said that it to delay pricing its IPO as the company is still in talks with anchor investors; potentially adding the company into Singapore's list of shelved IPOs. Undeterred, Summit Power Intl (1579715D SP) will be going ahead with its IPO, looking to list on the 30th of April.In other South East Asian countries, activity is picking up like we mentioned last week. Surya Pertiwi PT (1583120D IJ) and Medikaloka Hermina PT (1536046D IJ) launched its IPO in Indonesia this week while in Thailand, a rare mega IPO of an old conglomerate, Osotspa Co Ltd (0227009Z TB) has filed for IPO too. Vietnam's very own mega IPO for the year, Vietnam Technological &amp; Comm (TCB VN) , will be ending its bookbuild next week.Ping An Healthcare And Techn (1573582D HK),  or more commonly known as the Ping An Good Doctor app, has already launched its pricing details and we will be following up with a quick note this week. We have previously written on it in Ping An Healthcare and Tech Pre-IPO Review - First to List but Not the Only One.PlacementsPlacements this week has been a series of hits and misses. Nextdc Ltd (NXT AU)'s capital raise priced at no discount to last close and still managed to hit an intraday high of 8% on the first day of close. It has since retraced slightly below its pre-placement price which makes sense considering its acquisitions will not be near-term accretive. For Invincible Investment Corp (8963 JP) , we were right about negative sentiment from the unexpected selldown by Fortress after the change in ownership.Lastly, our bullish call on Evolution Mining Ltd (EVN AU) was proven wrong. We warned about the potential poor sentiment as a result of La Mancha going back on its February statement that it will hold on to its 20% shareholding in our insight but decided that its long track record of outperformance in short-term and long-term could continue in this placement. But it seems like the market seems to understand that the selldown by La Mancha's selldown to lock in the price at current valuation suggests that EVN is fully valued, at least in the short term.A walk through China this week!I will be working from China this week and today I am at the Shanghai's naked Hub (裸心社), co-working space which WeWork is reportedly looking to acquire it early this year. I will try to give more view on what I see and experience on the ground from China. So far, Shanghai has been an amazing city! Accuracy Rate:Our overall accuracy rate is 72.1% for IPOs and 63.1% for Placements.(Performance measurement criteria is explained at the end of the note)New IPO filings this week  PT Medikaloka Hermina (Indonesia, ~US$300m)PT Surya Pertiwi (Indonesia, ~US$100m)Osothspa (Thailand, &gt;US$100m)Below is a snippet of our IPO tool on upcoming events for the next week. Our IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.Source: SmartkarmaNews on Upcoming IPOsOsotspa has high hopes for IPOMalaysia’s Maybank said to be preparing insurance unit spinoffIndia: Carlyle-backed diagnostic chain Metropolis considers $230m IPOTencent- backed fashion app seeks US$4b IPOLite Bite Foods plans IPO to tap capital marketSmartkarma Community's Analyses on Upcoming IPOs  IPO Radar: Osothspa, The Thai Energy Giant Behind M-100/M-150IPO Radar: M Vision, The Guys Who Bought Us the Iconic Mobile ExpoSLB Development Ltd – Tough Justification for Premium IPO ValuationSejong Medical IPO Preview (Part 1)List of pre-IPO Coverage on SmartkarmaNameInsightHong KongCenmintangCenmintang IPO Preview: A Beverage and Snack Play Whose Growth Is Hard to GraspChina FeiheChina Feihe IPO Preview: Goat Bless Infant Formula Milk?Bank of JiujiangScraping the Bottom of the Barrel: Bank of JiuJiangGanfeng LithiumGanfeng Lithium IPO: Present Perfect, Future TenseJiangxi BankJiangxi Bank IPO Preview: Strong Growth Offset by Weak Asset QualityPing An HealthPing An Healthcare and Tech Pre-IPO Review - First to List but Not the Only OnePing An HealthPing An Good Doctor IPO Preview: Vital Signs DeterioratingShandong GoldShandong Gold Mining IPO Preview: Largest Pure Play Gold Miner to Be Listed in Hong KongShandong GoldShandong Gold IPO: Buyers BewareQilu ExpressQilu Expressway IPO Preview: Concentration Risk and Recent News May Mean Discount to PeersSouth KoreaBodyfriendBodyfriend IPO Preview: Part I (Goodbye Osim, Hello Bodyfriend) Bodyfriend) CJ OliveNetworksCJ OliveNetworks - On A Fast Track to an IPO in 2017? Data SolutionDatasolution IPO Summary - Questions Remain on Growth, but Market Seems ExcitedGentle MonsterGentle Monster IPO - A Monster GrowthKorea ExchangeKorea Exchange IPO - Question Is When, Not IfOutin FuturesOutin Futures Corp IPO Preview (Part 1),  Valuations (Part 2)Woowa BroWoowa Brothers Corp IPO Preview (Part 1) - The Most Popular Food Delivery Service in KoreaV-One TechV-One Tech IPO Summary - Another OLED Stock IPO,  IPO Bookbuilding ResultsZinusZinus IPO Preview (Part 1) - An Amazing Comeback Story (#1 Mattress Brand on Amazon)IndiaCMS InfoCMS Info Systems Pre-IPO Review - When a PE Sells to Another PE... Only One Gets the Timing RightCreditAccess GramCreditAccess Grameen Pre-IPO Review - Lowest Opex Ratio Amongst MFI PeersCreditAccess GramCreditAccess Grameen IPO Preview: Good but Not the BestNSENational Stock Exchange Pre-IPO Review - Bigger, Better, Stronger but a Little Too Fast for SomeNSENSE IPO Preview- Not Only Fast..its Risky and Expensive

Smartkarma: ECM Coverage Weekly Update (23 April 2018)

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Summit Power Intl / Equity Capital Markets

<p>Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight, we will explore the following topics:</p><ul><li>What does the company do? What assets does it operate?</li><li>What is the landscape of Bangladesh power sector? Who are the players? Why are PPA contracts attractive?</li><li>What are the understated risks of the listing?</li><li>How does the company compare to its peers in financial metrics?</li><li>Where is the fair value of the company? Why is it tricky to put a fair value on the company?</li><li>How does the deal score in our ECM Framework? </li></ul>

Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight, we will explore the following topics:What does the company do? What assets does it operate?What is the landscape of Bangladesh power sector? Who are the players? Why are PPA contracts attractive?What are the understated risks of the listing?How does the company compare to its peers in financial metrics?Where is the fair value of the company? Why is it tricky to put a fair value on the company?How does the deal score in our ECM Framework? 

Summit Power Intl IPO: Visible Pipeline but Tricky Valuation for the Frontier Listing

Singapore

Summit Power International Limited operates as an infrastructure developer. The Company develops and owns power generating assets and produces electricity from natural gas and furnace oil. Summit Power International serves customers in Asia.

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Summit Power Intl (1579715D SP)

Smartkarma: ECM Coverage Weekly Update (23 April 2018)

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs. IPOs Qualitas Medical...

Zhen Zhou, Toh

Summit Power Intl IPO: Visible Pipeline but Tricky Valuation for the Frontier Listing

Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight,...

Ke Yan, CFA, FRM

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52-week Range

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