In today’s briefing:
- Cuscal IPO – Peers Have Traded Up, Decent Margin of Safety from Here
Cuscal IPO – Peers Have Traded Up, Decent Margin of Safety from Here
- Cuscal (1229Z AU) is looking to raise A$337m (US$218m) in its Australia IPO.
- Cuscal is an authorized deposit-taking institution (ADI) in Australia that primarily provides financial infrastructure and payment services in Australia.
- In this note, we look at the updates since our last look-through and share our thoughts on valuation.
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