In today’s briefing:
- Kuaishou Placement – US$480m Secondary Block Deal a Small One to Digest
- Hexaware Technologies Pre-IPO Tearsheet
- Intermestic IPO: A Proven Business Model with Improving Financials
- Intermestic IPO – Steady Domestic Business, but Limited International Exposure
- BioAge Labs Launches IPO Roadshow, Seeks To Raise Up To $150M on the Nasdaq Exchange
Kuaishou Placement – US$480m Secondary Block Deal a Small One to Digest
- DCM Investments is looking to raise US$484m via selling its remaining stake in Kuaishou Technology (1024 HK).
- While the current block deal isn’t entirely well flagged per se, it appears that DCM has since been trimming its stake on the open market.
- In this note, we run the deal through our ECM framework and comment on deal dynamics.
Hexaware Technologies Pre-IPO Tearsheet
- Hexaware Technologies (HEXW IN) is looking to raise about US$1.2bn in its upcoming India IPO. The deal will be run by JPM, Kotak, HSBC, IIFL Securities and Citi.
- Hexaware Technologies is a global digital and technology services company delivering innovative solutions that help customers in their digital transformation journey and subsequent operations, as per the company.
- Its offerings encompass five services, namely Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services.
Intermestic IPO: A Proven Business Model with Improving Financials
- Japanese eyewear manufacturer and retailer, Intermestic (262A JP) has filed for an IPO on the Tokyo Stock Exchange and is planning to raise proceeds of $112m.
- The company operates stores both domestically and internationally, and the company’s financials show strong improvement during the last few years.
- Intermestic has not yet announced the terms for its IPO, and in this insight, we have discussed the company’s business models, outlook and financials.
Intermestic IPO – Steady Domestic Business, but Limited International Exposure
- Intermestic (262A JP) is looking to raise US$110m in its Japan IPO. Intermestic is an eyewear manufacturer of eyeglasses and eyeglass accessories in Japan.
- Utilizing a specialty store retailer of private label apparel (SPA) model, the firm aims to provide a one-stop shop whereby manufacturing and retailing of its products are handled in-house.
- In this note, we look at the firm’s past performance.
BioAge Labs Launches IPO Roadshow, Seeks To Raise Up To $150M on the Nasdaq Exchange
- BioAge Labs launches roadshow and sets terms for an IPO: a company offers 7.5M shares at the price range of $17.00-$19.00, implying a market cap of ~$580M at the midpoint.
- Sofinnova Venture Partners plans to purchase ~$15M worth of BioAge Labs shares in this offering. The shares are expected to begin trading on Nasdaq on September 26, 2024.
- I view IPO valuation (post-offering EV ~$280M and runway into 2028) as attractive and expect BioAge Labs shares will outperform during first trading day next week.
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