In today’s briefing:
- Robosense Technology Pre-IPO Tearsheet
- Zhejiang Yongtai Technology GDR Listing – Discount Wider than Recent Deals & Inline with Average
- Lalatech Holdings Limited Pre-IPO – Thoughts on Valuation – Needs a Very Big Cut from Pre-IPO Rounds
Robosense Technology Pre-IPO Tearsheet
- Robosense Technology (ROBO HK) (RT) is looking to raise around US$300m (estimated) in its upcoming Hong Kong IPO. The deal will be run by JPM and China Renaissance.
- As of Mar 23, it had earned design wins for mass production of LiDAR for 52 vehicles with 21OEMs and Tier 1 suppliers, ranking No. 1 globally, according to CIC.
- As of Mar 23, it had served the largest number of automotive OEMs and Tier 1 suppliers, according to CIC.
Zhejiang Yongtai Technology GDR Listing – Discount Wider than Recent Deals & Inline with Average
- Zhejiang Yongtai Tech A (002326 CH) is looking to raise US$107m in its London GDR listing. Huatai is the sole bookrunner on the deal.
- The firm is offering 11.4m GDRs (1 GDR to 5 ordinary A-shares) for sale, at a fixed 12.7% discount to last close on its A-share leg.
- The deal is a relatively small one for the firm to digest, representing just 3.9 days of three month ADV on its A-share leg.
Lalatech Holdings Limited Pre-IPO – Thoughts on Valuation – Needs a Very Big Cut from Pre-IPO Rounds
- Lalatech Holdings Co Ltd (LALA HK) is looking to raise about US$1bn in its upcoming HK IPO.
- Lalatech operates via a marketplace model serving merchants and carriers. Its platform facilitates closed-loop transactions from online shipping order booking to intelligent order matching, and automated dispatching to after-sale services.
- We have looked at the company’s past performance and peer comparison in our earlier notes. In this note we will talk about valuations.
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