In today’s briefing:
- Samsung Electronics Placement – Better Timing This Time Around
- Ansell Placement – Undertaking a Large Acquisition as Sector Headwinds Remain
- P N Gadgil Jewellers Pre-IPO Tearsheet
- Kayou Pre-IPO – The Positives – Strong FY22 Growth
- BenQ BM Holding Cayman Corp Pre-IPO Tearsheet
Samsung Electronics Placement – Better Timing This Time Around
- KEB Hana Bank, on behalf of Lee Boo-Jin, is looking to raise up to US$325m via selling 0.1% of Samsung Electronics (005930 KS).
- The deal appears to be somewhat well flagged and the company recently reported better operating numbers for 1Q24.
- In this note, we will run the deal through our ECM framework and talk about the recent updates.
Ansell Placement – Undertaking a Large Acquisition as Sector Headwinds Remain
- Ansell Ltd (ANN AU) is looking to raise US$262m in its primary follow-on to partially fund its acquisition of KCPPE.
- Despite the firm having been on an acquisition spree, it remains uncertain to us if the market has been factoring in such a large one.
- The deal would be a large one to digest, representing 52.5 days of the stock’s three month ADV.
P N Gadgil Jewellers Pre-IPO Tearsheet
- P N Gadgil Jewellers (1742652D IN) is looking to raise up to US$132m in its upcoming India IPO. The deal will be run by Motilal Oswal, Nuvama and BOB Capital.
- P N Gadgil Jewellers (PNGJ from hereon) is an Indian organized jewellery player. According to Technopak, it is the second largest among prominent organized jewellery players in Maharashtra.
- Its product offerings include traditional jewellery for special occasions such as weddings, engagements and festivities and modern and jewellery designs for everyday wear purpose, in gold, diamond, silver and platinum.
Kayou Pre-IPO – The Positives – Strong FY22 Growth
- Kayou is looking to raise up to US$500m in its upcoming HK IPO.
- Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.
- In this note, we talk about the positive aspects of the deal.
BenQ BM Holding Cayman Corp Pre-IPO Tearsheet
- BenQ BM Holding Cayman Corp (2228515D KY) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC and Citigroup.
- BenQ BM Holding Cayman Corp (BenQ BM) is a general hospital operator.
- As of Dec 2023, BenQ BM owned and operated two hospitals, with a total combined GFA of approximately 380,000 sqm and 1,850 registered beds.
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