In today’s briefing:
- Pertamina Geothermal IPO: The Investment Case
- New Ruipeng Pet Group Pre-IPO – The Negative – Loss-Making and Cash Burn Could Dampen Ambitions
- Snap Inc: New Promotional Campaign & Other Developments
Pertamina Geothermal IPO: The Investment Case
- Pertamina Geothermal (0125738D IJ)/PGE, a subsidiary of PT Pertamina (Persero) (PERT IJ), is seeking to raise up to US$657 million at a price range of IDR820-945 per share.
- PGE is the largest geothermal concession holder in Indonesia, in terms of capacity installed, according to Wood Mackenzie.
- The investment case rest on steady growth, high margins, strong cash generation, manageable leverage, ambitious growth plans and attractive dividend payout.
New Ruipeng Pet Group Pre-IPO – The Negative – Loss-Making and Cash Burn Could Dampen Ambitions
- New Ruipeng Pet Group (RPET US) is looking to raise at least US$100m in its upcoming US IPO.
- New Ruipeng Pet Group (Ruipeng) is a pet services platform, primarily offering pet care services, supply chain services and local services, covering the entire lifecycle of pets.
- In this note, we will talk about the not-so-positive aspects of the deal.
Snap Inc: New Promotional Campaign & Other Developments
- Snap continued to encounter massive challenges due to increased competition and macroeconomic headwinds.
- In the quarter, the company released communities to expand its content offerings and onboarded several new media partners.
- The company has also launched new Snapchat+ features to increase audience engagement on the platform in the quarter.
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