In today’s briefing:
- APR IPO Book-Building Results Analysis
- Zhejiang Taimei Medical Technology Pre-IPO Tearsheet
- Bharti Hexacom Pre-IPO – The Positives – Earnings Have Been Recovering Well
APR IPO Book-Building Results Analysis
- APR reported a very strong IPO book-building results. APR IPO price has been determined at 250,000 won, which is 25% higher than the high end of the IPO price range.
- A total of 1,969 institutional investors participated in this IPO book-building. The demand ratio was 663 to 1. APR IPO will start trading on 26 February.
- Our base case valuation of APR is target price of 370,809 won per share which represents a 48% upside from the IPO price of 250,000 won.
Zhejiang Taimei Medical Technology Pre-IPO Tearsheet
- Zhejiang Taimei Medical Technology Co Ltd (1482194D CH) is looking to raise >US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are Morgan Stanley and CICC.
- Zhejiang Taimei Medical Technology (ZTMT) is a digital solution provider for the life sciences R&D and commercialization sector.
- As per the CIC report in the application proof, the firm was the largest digital solution provider for life sciences R&D and commercialization in China in terms of 2022 revenue.
Bharti Hexacom Pre-IPO – The Positives – Earnings Have Been Recovering Well
- Bharti Hexacom is looking to raise up to US$1bn in its upcoming India IPO.
- Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
- In this note, we talk about the positive aspects of the deal.
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