In today’s briefing:
- Asahi Group (2502 JP): The Current Playbook
- Zeekr Pre-IPO – Quick Note – Recent Filing Updates – 007, Earnings on Track
Asahi Group (2502 JP): The Current Playbook
- Since the US$1.3 billion secondary placement announcement, Asahi Group Holdings (2502 JP)’s shares are down -6.2% from the undisturbed price of JPY5,804 per share (16 November).
- Looking at recent large Japanese placements is instructive to understand the potential trading pattern. So far, Asahi’s shares have followed the pattern of previous large placements.
- The offering will likely be priced on 28 November. Investors participating in previous large Japanese placements tend to secure positive returns.
Zeekr Pre-IPO – Quick Note – Recent Filing Updates – 007, Earnings on Track
- ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing.
- Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
- We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about the updates from its recent filings.
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