In today’s briefing:
- ECM Weekly (11th June 2023) – Alibaba, Tencent, PDD, Redox, Amman, Kotak, Infratil, Skymark
- AppLovin Corporation: Extended Global Partnership with OPPO & Other Developments
- Unity Software Inc.: The Unity Industry Launch Could Be A Game Changer – Key Drivers
ECM Weekly (11th June 2023) – Alibaba, Tencent, PDD, Redox, Amman, Kotak, Infratil, Skymark
- 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, Australia finally got its IPO counter ticking for the year with Redox (RDX AU).
- On the placement front, Infratil Ltd (IFT NZ) raised to increase its stake in One NZ. While Skymark Airlines (9204 JP) will see a lockup expiry in the coming week.
AppLovin Corporation: Extended Global Partnership with OPPO & Other Developments
- AppLovin delivered a mixed result in the recent quarter, with revenues above market expectations, but it failed to surpass the analyst consensus in terms of earnings.
- The management’s belief in the resilience of mobile gaming was validated, as the category remained stable even during uncertain economic times.
- The development of AXON 2, their advanced technology, has been a priority, with ongoing upgrades expected to bring significant revenue and cash flow improvements.
Unity Software Inc.: The Unity Industry Launch Could Be A Game Changer – Key Drivers
- Unity Software delivered a mixed set of results for the previous quarter, with revenues above the analyst consensus.
- Unity believes AI is a positive force for the industry and its creators, leveraging the sustainable competitive advantages provided by its platform.
- We give Unity Software Inc. a ‘Hold’ rating with a revised target price.
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