In today’s briefing:
- Ola Electric Pre-IPO Peer Comparison – Increasing Competition, but It’s Still the Leader
- AAMB Holdings Placement – Despite the Overhang, Momentum Has Been Decent
- Zomato Placement – Momentum Is Very Strong, Somewhat Well Flagged
- Xunfei Healthcare Technology Pre-IPO Tearsheet
Ola Electric Pre-IPO Peer Comparison – Increasing Competition, but It’s Still the Leader
- Ola Electric is looking to raise about US$1bn in its upcoming India IPO.
- Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.
- In our previous note we have looked at the company’s past performance. In this note, we will undertake a peer comparison.
AAMB Holdings Placement – Despite the Overhang, Momentum Has Been Decent
- ANZ Funds is looking to raise around US$242m from selling a portion of its stake in AMMB Holdings (AMM MK).
- Having written down its carrying value earlier, we would argue that the deal now is somewhat well flagged, with ANZ attempting to record some gains on investment.
- That being said, there is an overhang and the deal would be a large one to digest at 111 days of AMBank’s three month ADV.
Zomato Placement – Momentum Is Very Strong, Somewhat Well Flagged
- AntFin is looking to raise around US$350m by selling around 2% of Zomato (ZOMATO IN).
- Ant Group had earlier sold some of its stake in Nov 2023 and Ant just came out of lockup from the previous selldown a few days ago.
- In this note, we talk about the deal dynamics and run the deal through our ECM framework.
Xunfei Healthcare Technology Pre-IPO Tearsheet
- Xunfei Healthcare Technology (XHT HK) is looking to raise around US$200m in its upcoming Hong Kong IPO. The bookrunners on the deal are Huatai International, GF Capital, and CCB International.
- Xunfei Healthcare Technology (Xunfei), a iFlytek (Shenzhen-listed) spin-off, primarily provides solutions covering the full healthcare service cycle, with products and services mainly catered towards major stakeholders in the healthcare industry.
- Backed by its healthcare AI solutions matrix, the firm ranked first in the healthcare AI industry in terms of revenue in China in 2022, according to Frost & Sullivan (F&S).
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