In today’s briefing:
- Guzman Y Gomez IPO – Peer Comp and Thoughts on Valuations
- Lalatech IPO: Using YMM:US as Main Comp, Equity Valuation of US$11-12 Bn (Or More) Justifiable
- Minieye Technology Pre-IPO Tearsheet
Guzman Y Gomez IPO – Peer Comp and Thoughts on Valuations
- Guzman Y Gomez (GYG) now plans to raise US$221m, an increase from its earlier target of US$160m, in its Australian IPO.
- GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
- We have looked at the company’s performance in our past notes. In this note, we talk about valuations.
Lalatech IPO: Using YMM:US as Main Comp, Equity Valuation of US$11-12 Bn (Or More) Justifiable
- Based on returns and margins, US-listed Full Truck Alliance is best comp
- Lalatech probably deserves premium valuation multiples vs Full Truck Alliance
- An equity valuation of US$11bn+ justifiable; will investors look at recent flops?
Minieye Technology Pre-IPO Tearsheet
- Minieye Technology (1426169D CH) is looking to raise US$150m in its upcoming Hong Kong IPO. The bookrunners on the deal are Citic Securities and CICC.
- Minieye Technology (Minieye) is an intelligent driving and cabin solutions provider in China, offering solutions for critical aspects of the driving experience, including piloting, parking and in-cabin functions.
- Providing Level 0-Level 2++ intelligent driving solutions that are full-stack in-house developed and proven by mass production, the firm has also been developing advanced Level 4 autonomous driving technologies.
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