In today’s briefing:
- Juniper Hotels IPO – Looks Somewhat Fairly Valued
- Orica Placement – Keeping the Acquisition Momentum Going
Juniper Hotels IPO – Looks Somewhat Fairly Valued
- Juniper Hotels is looking to raise up to US$217m in its upcoming India IPO.
- Juniper Hotels is the largest owner by no. of keys of Hyatt affiliated hotels in India as of 2Q23 (30th Jun 23), according to Horwath.
- We have looked at the company’s past performance in our previous note. In this note, we provide our thoughts on valuations.
Orica Placement – Keeping the Acquisition Momentum Going
- Orica Ltd (ORI AU) is looking to raise up to A$400m (US$260m) in its primary placement. The proceeds will be used to partially fund the acquisition of Cyanco.
- The deal is a large one to digest, representing 21.3 days of three month ADV and 5.2% dilution.
- In this note, we’ll run the deal through our ECM framework and comment on deal dynamics.
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