In today’s briefing:
- Chenqi Technology IPO – Smallest in Scale, Sentiment Might Not Be the Best
- ABL Bio Capital Raise of 140 Billion Won
Chenqi Technology IPO – Smallest in Scale, Sentiment Might Not Be the Best
- Chenqi Technology Limited (CT HK) is looking to raise up to US$174m in its Hong Kong IPO, after downsizing from an earlier reported float of US$300m.
- Chenqi Technology (Chenqi) is a mobility technology and service company in China, founded by the GAC Group and Tencent.
- In our previous notes, we talked about the company’s historical performance and PHIP updates. In this note, we undertake a quick peer comparison and share our thoughts on valuation.
ABL Bio Capital Raise of 140 Billion Won
- On 2 July, ABL Bio (298380 KS) announced a capital raise worth 140 billion won.
- The capital raise involves 5.77 million new shares (10.7% of outstanding shares post capital raise) at 24,229 won per share (current price is 24,150 won).
- The proceeds from the capital raise will be used to develop next-generation ADCs (Antibody Drug Conjugates), including bispecific antibody ADCs.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
