In today’s briefing:
- LS Materials IPO Preview
- Cello World IPO – Strong past Growth but Has a Number of Related Party Issues
- J&T Global Express IPO Trading – Tepid Demand Despite the Team Effort
- WuXi XDC Pre-IPO – Thoughts on Valuation – While TAM Is Uncertain, Sales and PAT Are Set to Double
LS Materials IPO Preview
- LS Materials is getting ready to complete its IPO in Korea in late November. The IPO price range is from 4,400 won to 5,500 won per share.
- According to the bankers’ valuation, the expected market cap after the IPO is from 298 billion won to 372 billion won.
- LS Materials is one of the largest players globally in the large-size ultracapacitors, which stabilize power supply and are used to replace and supplement primary batteries and lithium-ion batteries.
Cello World IPO – Strong past Growth but Has a Number of Related Party Issues
- Cello World is looking to raise around US$240m in its upcoming India IPO.
- Cello World (CW) is an Indian consumer products company. The firm is a leading company in the consumerware market in India.
- In this note, we look at the company’s past performance.
J&T Global Express IPO Trading – Tepid Demand Despite the Team Effort
- J&T Global Express (1519 HK), a global logistics service provider, raised around US$500m in its Hong Kong IPO.
- As per Frost & Sullivan (F&S), the firm is the leading express delivery business in Southeast Asia, with a 22.5% market share as per 2022 parcel volume.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we talk about the trading dynamics.
WuXi XDC Pre-IPO – Thoughts on Valuation – While TAM Is Uncertain, Sales and PAT Are Set to Double
- WuXi XDC Cayman Inc (1877628D HK) is looking to raise around US$500m in its upcoming Hong Kong IPO.
- WuXi XDC Cayman (WXDC) is a CRDMO focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.
- In our previous notes we looked at the company’s past performance and peer comparison. In this note, we discuss our thoughts on valuation.
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