In today’s briefing:
- SF Holding Pre-IPO: Deal Goes Live in HK, Company Hopes to Raise ~US$800 Mn, Less Than Anticipated
- DigiCo REIT – The Positives – Hot Sector with Built in Growth
- Pre-IPO Hangzhou Jiuyuan Gene Engineering (PHIP Updates) – The Future Prospects Are Not Optimistic
SF Holding Pre-IPO: Deal Goes Live in HK, Company Hopes to Raise ~US$800 Mn, Less Than Anticipated
- SF Holding’s HKEX listing launched on Tuesday, November 19th; deal to be priced by 26th
- SF hopes to raise about US$800 mn, less than originally anticipated in financial media
- About one quarter of the offering will be taken up by ten cornerstone investors
DigiCo REIT – The Positives – Hot Sector with Built in Growth
- DigiCo REIT (DIGICO AU) aims to raise over US$1bn in its Australian IPO.
- DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities
- In this note, we talk about the positive aspects of the deal.
Pre-IPO Hangzhou Jiuyuan Gene Engineering (PHIP Updates) – The Future Prospects Are Not Optimistic
- Based on current performance, Jiuyuan has lost growth momentum, showing signs of stagnant growth. The main reason is VBP. So far, Jiouting, Yinuojia, Jifuwei have been included in VBP.
- Guyoudao is facing competitive pressure from both domestic and international competitors and could be finally included in VBP. JY29-2 is the next blockbuster product, but the prospects are not clear.
- Jiuyuan’s market value is expected to be higher than Qyuns. Future valuation performance will depend on the progress of JY29-2 and the overall market situation of GLP-1s at that time
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