In today’s briefing:
- Korea’s New IPO Bookbuilding & Lockup Results Disclosure Rule, Effective from August
- Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)
- Akums Drugs and Pharmaceuticals Pre-IPO – Profitable but Needs to Scale up More
- Timee IPO Trading – Garnered a Strong Demand, Should Pop
- Amer Sports IPO Lock-Up Expiry – PE Investor Might Look to Trim US$750m Stake
Korea’s New IPO Bookbuilding & Lockup Results Disclosure Rule, Effective from August
- FSS’s leaked IPO guidelines include new, highly attention-grabbing additions: specifically, the disclosure of extra information from the bookbuilding and lockup results not mentioned in May.
- Institutions submitting prices outside the indicative band must be disclosed by KRX investor type. Additionally, average placed price information for lockup-pledged investors must be disclosed.
- FSS will distribute new IPO guidelines this week and apply them from next month. Major IPOs like K Bank must disclose more detailed bookbuilding and lockup results, impacting trading dynamics.
Technically Speaking, Breakouts and Breakdowns: HONG KONG (July 24)
- BYD (1211 HK) shares had a breakout relative to the MSCI China index and showing good momentum during the low volume days of summer.
- POWER ASSETS HOLDINGS (6 HK) has shown a breakout relative to MSCI Hong Kong with a defensive business and 5%+ dividend yield.
- WH GROUP (288 HK) has also shown a breakout relative to the MSCI Hong Kong after its announcement of the spinoff of Smithfield Foods in the US.
Akums Drugs and Pharmaceuticals Pre-IPO – Profitable but Needs to Scale up More
- Akums Drugs and Pharmaceuticals (0200361D IN) is looking to raise up to US$239m in its upcoming India IPO.
- Akums Drugs and Pharmaceuticals (ADP) is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
- In this note, we talk about the company’s historical performance.
Timee IPO Trading – Garnered a Strong Demand, Should Pop
- Timee Inc (215A JP) raised US$300m in its Japan IPO. The IPO had been a 100% secondary selldown by existing shareholders.
- Timee operates an on-demand staffing platform that connects part-time jobseekers with businesses in Japan.
- We have looked at the company’s past performance in our previous notes. In this note, we talk about the trading dynamics.
Amer Sports IPO Lock-Up Expiry – PE Investor Might Look to Trim US$750m Stake
- Amer Sports (AS US) raised around US$1.3bn in its US IPO in Feb 2024, after pricing its IPO below its initial range.
- Amer Sports is a sports and outdoor brands company making clothing and other sporting equipment for use in snow sports, running, climbing, baseball, american football, tennis and other sports.
- In this note, we talk about the upcoming lock-up expiry and deal dynamics.
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