In today’s briefing:
- WCP IPO: Hooked on Lithium
- Giant Biogene Holding (GBH HK) Pre IPO: A Fundamentally Strong Company to Grab Market Opportunity
- SML Group Pre-IPO Tearsheet
- Growatt Technology Pre-IPO Tearsheet
- WCP IPO – The Positives – Past Sales Have Been Very Strong
WCP IPO: Hooked on Lithium
- WCP (WCP KS), a lithium-ion batteries separator company, is planning to launch a KRW900 billion (US$692 million) IPO in August.
- The price range of KRW80,000-100,000 implies a market cap of KRW2.7-3.4 trillion (US$2.1-2.6 billion).
- WCP has attractive fundamentals due to the favourable demand/supply balance, technology, strong revenue growth and improving margins.
Giant Biogene Holding (GBH HK) Pre IPO: A Fundamentally Strong Company to Grab Market Opportunity
- Giant Biogene Holding (GBH HK) has filed for a Hong Kong IPO for raising as much as $1 billion. The company is China’s largest supplier of collagen-based skincare products.
- Through its dual-pronged “medical institution + mass consumer” sales strategy, the company has increased revenue to RMB1,553 million in 2021 from RMB956.7 million in 2019.
- The collagen-based skincare market in China is expected to grow from RMB9.4 billion in 2022 to RMB77.5 billion in 2027, at a CAGR of 52.6%, thereby offering significant growth opportunity.
SML Group Pre-IPO Tearsheet
- SML Group (SMLGZ HK) is looking to raise about US$200m in its upcoming Hong Kong IPO. The deal will be run by BNP Paribas.
- SML Group (SMLG) is a vertically integrated digital identification solutions provider. It primarily engages in developing, manufacturing and selling label and tag products with RFID, a leading item-level identification technology.
- SMLG operates globally across 24 countries and as of the latest practicable date (17 Jun 22), had 23 production facilities in 18 countries.
Growatt Technology Pre-IPO Tearsheet
- Growatt Technology (1833969D CH) is looking to raise about US$500m in its upcoming Hong Kong IPO. The deal will be run by Credit Suisse and CICC.
- Growatt Technology is a global distributed energy solution provider, specializing in sustainable energy generation, storage and consumption and energy digitalization.
- As of the Latest Practicable Date (20 Jun 2022), they had shipped over 2.7m PV Inverters, 268,000 energy storage inverters.
WCP IPO – The Positives – Past Sales Have Been Very Strong
- WCP aims to raise around US$690m via selling a mix of primary and secondary shares in its Korean IPO.
- WCP designs, manufactures, and sells separators, which are one of the four core materials for secondary Lithium-ion batteries
- In this note, we will talk about the positive aspects of the deal.
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