In today’s briefing:
- Socionext IPO Trading – Upsized IPO with Strong Demand. Peers Inched Downwards, but Upside Remains
- LionHeart Studio Pre-IPO – The Negatives – Appears to Be Well past Its Peak, Founder Cashed In $700m
- Giant Biogene IPO: The Bull Case
- LionHeart Studio IPO – Peer Comparison – Youngest and Most Untested
Socionext IPO Trading – Upsized IPO with Strong Demand. Peers Inched Downwards, but Upside Remains
- Socionext (6526 JP) raised around US$463m in its Japan IPO. The IPO consisted of 100% secondary shares.
- Socionext is a fabless semiconductor provider which commenced operations after integrating the system on a chip (SoC) businesses of Fujitsu Semiconductor Limited and Panasonic Holding Corporation.
- In this note we will talk about the trading dynamics.
LionHeart Studio Pre-IPO – The Negatives – Appears to Be Well past Its Peak, Founder Cashed In $700m
- Lionheart Studio (426630 KS), a game development studio based in South Korea, aims to raise around US$420m via its South Korean IPO.
- The company is majority owned by Kakao Games Corp (293490 KS) , which after having recently hiked its stake, owned 54.94% of the company prior to listing.
- In this note, we will talk about the not-so-positive aspects of the deal.
Giant Biogene IPO: The Bull Case
- Giant Biogene Holding (GBH HK), a leading professional skin care product manufacturer, has started pre-marketing a US$500 million HKEx IPO.
- According to Frost & Sullivan, Biogene was China’s second-largest professional skin treatment product company by retail sales in 2021.
- The key elements of the bull case rest on a large and growing addressable market, regulatory tailwinds, the core brand’s stellar performance and high cash generation.
LionHeart Studio IPO – Peer Comparison – Youngest and Most Untested
- Lionheart Studio (426630 KS), a game development studio based in South Korea, aims to raise around US$420m via its South Korean IPO.
- The company is majority owned by Kakao Games Corp (293490 KS), which after having recently hiked its stake, owned 54.94% of the company prior to listing.
- We spoke about the company’s past performance in our previous note. In this note, we’ll undertake a peer comparison.
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