In today’s briefing:
- Almac IPO Bookbuilding Results Analysis
- ECM Weekly (18th June 2023) – JD Property, Tata Tech, SBFC Fin, Auckland Air, Weilong, Sula, Abacus
Almac IPO Bookbuilding Results Analysis
- Almac announced its IPO price of 50,000 won, which is 11% higher than the high end of the IPO price range. Demand ratio was very high at 1,697 to 1.
- A 98.7% of the IPO shares applied thought that the company’s value is more than 45,000 won
- Given the exceptional demand for IPO shares, it is likely that the IPO share price is likely to trade at higher end of the IPO range in our sensitivity analysis.
ECM Weekly (18th June 2023) – JD Property, Tata Tech, SBFC Fin, Auckland Air, Weilong, Sula, Abacus
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, HK remained quiet with Australia seeing some more action.
- On the placement front, Bain continued to exit Axis Bank Ltd (AXSB IN) while Weilong Delicious Global (9985 HK) and Sula Vineyards had lock-up expiries.
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