In today’s briefing:
- Genda IPO Trading – Stronger Subscription Rates than the Recent Large JP IPO
- National Securities Depository Limited (NSDL) Pre-IPO Tearsheet
- LianLian DigiTech IPO: The Bear Case
Genda IPO Trading – Stronger Subscription Rates than the Recent Large JP IPO
- Genda Inc (9166 JP) raised around US$100m in its Japan IPO.
- Genda develops and operates amusement facilities in Japan, primarily operating under its Genda GiGO Entertainment subsidiary.
- In this note we will talk about the trading dynamics.
National Securities Depository Limited (NSDL) Pre-IPO Tearsheet
- National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO.
- The deal will be run by ISec, Axis Capital, HSBC, IDBI, Motilal and SBI Caps.
- It IS the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.
LianLian DigiTech IPO: The Bear Case
- Lianlian DigiTech (2104619D CH), a digital payment services provider in China, has filed for an HKEx IPO to raise US$500 million, according to press reports.
- In LianLian DigiTech IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
- The key elements of the bear case rest on margin pressure on the fastest-growing business, operating losses, an unconvincing path to profitability, FCF burn with a weak balance sheet.
💡 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
