In today’s briefing:
- Happy Forgings Limited Pre-IPO Tearsheet
- Revu Corporation IPO Preview
- Opthea (OPT AU): Kicks Off A$80M Capital Raise To Support Phase 3 Trial of Lead Drug Candidate
Happy Forgings Limited Pre-IPO Tearsheet
- Happy Forgings Limited (6596652Z IN) is looking to raise around US$160m in its upcoming India IPO.
- Happy Forgings Limited (HF) is a manufacturer of complex and safety critical, heavy forged and high precision machines components in India.
- As per the Ricardo Report, the firm is the fourth largest firm domestically in terms of FY23 forging capacity.
Revu Corporation IPO Preview
- Revu Corporation is the number one influencer platform company in Korea with the largest number of influencer members in the industry.
- The IPO price range is from 11,500 won to 13,200 won. The maximum total offering amount is 29.5 billion won.
- The bankers used three companies including DearU, Silicon2, and Connectwave as comparable companies for Revu Corp. The average P/E of the comps is 32.6x.
Opthea (OPT AU): Kicks Off A$80M Capital Raise To Support Phase 3 Trial of Lead Drug Candidate
- Opthea Ltd (OPT AU) is seeking to raise A$80M ($51M) through a combination of private placement and accelerated non-renounceable entitlement offer. The proceeds will fund the clinical development of OPT-302.
- The proceeds of the offer, pending funds from the earlier agreements, along with existing cash balance, are expected to fund the company’s operation through Q3 2024.
- OPT-302 is in two phase 3 trials, which are expected to be fully enrolled by 1H24. In phase 2 trial, OPT-302 has demonstrated superior visual acuity over standard of care.
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