In today’s briefing:
- LG CNS IPO: Valuation Insights
- Bloks Group IPO – Outgrowing Its Peers, Decent Valuation
LG CNS IPO: Valuation Insights
- LG CNS (LGCNSZ KS), the IT service unit of LG Corp (003550 KS), seeks to raise up to US$837 million through a primary/secondary offering.
- We previously discussed the IPO in LG CNS IPO: The Bull Case and LG CNS IPO: The Bear Case.
- We examine the syndicate’s valuation methodology. Our analysis suggests that LG CNS is attractive in the IPO price range. We would participate in the IPO.
Bloks Group IPO – Outgrowing Its Peers, Decent Valuation
- Bloks Group (1850960D CH) is looking to raise US$187m in its Hong Kong IPO.
- Bloks Groups (Bloks) operates in the toy segment where it primarily assembles character and brick-based toys.
- In our previous notes, we looked at the firm’s past performance. In this note, we undertake a peer comparison and discuss our thoughts on valuation.
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