In today’s briefing:
- TRYT IPO: Trading Debut
- ECM Weekly (23rd July 2023) – Tryt, Genda, Rakuten, Mobovi, Samhi, Indigo, Federal Bank, Invincible
TRYT IPO: Trading Debut
- Tryt Inc (9164 JP) priced its IPO at JPY1,200 per share to raise gross proceeds of US$339 million. The shares will start trading on 24 July.
- We previously discussed the IPO in TRYT IPO: The Bull Case, TRYT IPO: The Bear Case, TRYT IPO: Valuation Insights and TRYT IPO: Revised IPO Price Range Remains Unattractive.
- The market sentiment on the sector has broadly remained unchanged since the release of the prospectus. Our analysis suggests that Tryt is, at best, fully priced at the IPO price.
ECM Weekly (23rd July 2023) – Tryt, Genda, Rakuten, Mobovi, Samhi, Indigo, Federal Bank, Invincible
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, the coming week will see Tryt Inc (9164 JP) and Genda Inc (9166 JP) listing, along with Fadu (440110 KS) bookbuild.
- For placements, Japan and India placements continue to flow, while there are no signs of any major Hong Kong activity.
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