Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Capital Markets

VCredit Holdings Ltd / Equity Capital Markets

VCREDIT Holdings plans to raise up to US$500m in its upcoming IPO. The company has seen rapid growth for its credit card balance transfer and consumption credit loans. It is also relatively better placed than P2P lenders in the current regulatory environment as its funding comes mainly from institutions.However, for its credit card balance transfer, the company seems to be serving customers that have had their rollover requests rejected by the banks and this could probably be the reason for its reporting much higher delinquencies versus industry average. In consumer lending, it still remains a small player. Its other product, online-to-offline, seems to be languishing.Despite not being directly impacted by the regulations, the company will still have to make changes to its model. This combined with the impending accounting changes and its planned funding mix change, make the outlook uncertain.

VCREDIT Holdings plans to raise up to US$500m in its upcoming IPO. The company has seen rapid growth for its credit card balance transfer and consumption credit loans. It is also relatively better placed than P2P lenders in the current regulatory environment as its funding comes mainly from institutions.However, for its credit card balance transfer, the company seems to be serving customers that have had their rollover requests rejected by the banks and this could probably be the reason for its reporting much higher delinquencies versus industry average. In consumer lending, it still remains a small player. Its other product, online-to-offline, seems to be languishing.Despite not being directly impacted by the regulations, the company will still have to make changes to its model. This combined with the impending accounting changes and its planned funding mix change, make the outlook uncertain.

VCREDIT Holdings Pre-IPO Review - Relatively Better Placed but Doubts Remain

Hong Kong

Universe International Holdings Limited, through its subsidiaries, distributes in various videogram formats.  The Company also licenses and sub-licenses film rights and operates film exhibition.  In addition, Universe International leases investment properties and machineries for replication optical discs.

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Universe Intl Hldgs (1046 HK)

VCREDIT Holdings Pre-IPO Review - Relatively Better Placed but Doubts Remain

VCREDIT Holdings plans to raise up to US$500m in its upcoming IPO. The company has seen rapid growth for its credit card balance transfer and...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)