In today’s briefing:
- HD Hyundai Marine Solution IPO – Thoughts on Valuation
- Crizac Pre-IPO Tearsheet
- Zongmu Technology Pre-IPO Tearsheet
HD Hyundai Marine Solution IPO – Thoughts on Valuation
- HD Hyundai Marine Solution (443060 KS) is looking to raise up to US$551m in its Korean IPO.
- HD Hyundai Marine Solution (HMS from hereon) is a ship aftermarket service provider that provides necessary services throughout a ship’s life cycle after the delivery of a new ship.
- In our previous notes, we talked about the company’s historical performance and undertook a peer comparison. In this note, we share our thoughts on valuation.
Crizac Pre-IPO Tearsheet
- Crizac is looking to raise US$120m in its upcoming India IPO. The bookrunners on the deal are Equirus and Anand Rathi.
- Crizac is an education platform offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ).
- Crizac is one of the largest student recruitment solutions providers from India to the UK with a market share of 13.0%, in terms of the number of students in 2023.
Zongmu Technology Pre-IPO Tearsheet
- Zongmu Technology (1491595D CH) is looking to raise up to US$150m in its upcoming HK IPO. The deal will be run by Huatai and BNP Paribas.
- Zongmu Technology is a Chinese advanced driver assistance system (ADAS) solutions provider, offering solutions with comprehensive autonomous driving functions.
- As a Tier 1 supplier, it undertakes software design, hardware design, system design and the integration of these components to develop solutions for mass deployment.
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