In today’s briefing:
- Archean Chemical Industries IPO – Outstanding Growth but Keep an Eye on Leverage
- Bionote Pre-IPO – Thoughts on Valuation
- Exxon Mobil Corp: Major Drivers
- Five-Star Business IPO – Thoughts on Valuation
- Pinterest Inc: New Marketing Campaign & Other Developments
Archean Chemical Industries IPO – Outstanding Growth but Keep an Eye on Leverage
- Archean Chemical Industries (0810406D IN) is looking to raise about US$176m in its India IPO.
- Archean Chemical Industries (ACI) is a specialty marine chemical manufacturer in India focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.
- ACI has been growing on the back of increasing production capacity, sales volume and average selling prices in recent years. However, the firm had nearly defaulted previously.
Bionote Pre-IPO – Thoughts on Valuation
- Bionote (377740 KS) is looking to raise approximately US$200m in its Korean IPO. The IPO would consist of both a primary and secondary selldown.
- Bionote is an integrated producer of diagnostics test products and biocontent products.
- In this note, we will look at deal dynamics, assumptions, and share our thoughts on valuation.
Exxon Mobil Corp: Major Drivers
- Like most other oil majors, Exxon Mobil too is trading close to its 52-week high.
- The company an delivered outstanding quarterly results driven by higher natural gas realizations, stronger refinery throughput, solid refining margins, and strict cost control.
- In the Permian Basin, Exxon increased output to almost 560,000 oil equivalent barrels per day, continuing their rapid expansion from the previous year.
Five-Star Business IPO – Thoughts on Valuation
- Five Star Business Finance (0958461D IN) is looking to raise around US$250m in its upcoming India IPO.
- Five-Star Business is a non-banking financial company (NBFC-ND-SI) that provides secured business loans to micro-entrepreneurs and self-employed individuals.
- We have looked at various aspects of the deal in our previous note, in this note, we talk about valuations.
Pinterest Inc: New Marketing Campaign & Other Developments
- Pinterest’s performance as a stock has been fairly decent in what can be termed as a tumultuous environment for the technology industry.
- The company’s global MAUs of 445 million were higher than in Q3 2021 because it largely overcame the pandemic’s difficulties and increased user engagement.
- During the quarter, they collaborated with Merlin, BMG, Warner Music Group, and Warner Chappell Music to enhance the music experience on Pinterest.
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