In today’s briefing:
- Midea A/H Listing – Early Look – Probably Raising Acquisition Currency
- Barito Renewables IPO – Power Producer with Stable Cash Flows
Midea A/H Listing – Early Look – Probably Raising Acquisition Currency
- Midea Group Co Ltd A (000333 CH), one of the world’s largest home appliance producers, aims to raise up to US$5bn in its H-share listing.
- Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
Barito Renewables IPO – Power Producer with Stable Cash Flows
- Barito Renewables (2306028D IJ) is looking to raise around US$228m in its Indonesian IPO.
- Barito Renewables (BR) is Indonesia’s largest geothermal power producer, and the third-largest globally by installed capacity, as per the firm.
- Its revenue has been primarily driven by electricity and steam sales to PLN as PGE’s exclusive contractor and its profitability has been on the rise over the track record period.
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