In today’s briefing:
- 111 (YI US): The Privatisation Offer Gets a Reboot
- SATP Holding IPO Preview: Bringing SaaS And Automation To 50M+ SMBs In China
- Black Sesame Pre-IPO – The Positives – Catering to a Growing Demand for Automotive Automation
111 (YI US): The Privatisation Offer Gets a Reboot
- 111 Inc (YI US), China’s largest virtual pharmacy network, amended an SC 13D filing on 13 July, which belatedly updated the consortium’s privatisation offer of US$3.66 per ADS.
- The consortium has been revamped such that the lead investors (Dr Gang Yu, Dr Junling Liu and Shanghai Guosheng Capital Management) are joined with 13 additional investors.
- The development facilitates the signing of a definite agreement. The consortium represents 95.27% of the voting power, which ensures a successful vote. At last close, the gross spread is 9.6%.
SATP Holding IPO Preview: Bringing SaaS And Automation To 50M+ SMBs In China
- SATP Holding, a leading China-based SMB finance and taxation solution provider, filed to go public in Hong Kong. The company is led by visionary Founder and CEO Shugang Zhang.
- SATP Holding offers scalable SaaS-based bookkeeping and taxation solutions to SMBs in China. The proprietary SaaS system (SATP) automates tax filings and financial statement submissions.
- According to Pitchbook and the company’s IPO prospectus, the founder-led software provider has raised ~$226M in funding across nine funding rounds.
Black Sesame Pre-IPO – The Positives – Catering to a Growing Demand for Automotive Automation
- Black Sesame Technologies (BLACKSES HK) is looking to raise around US$300m in its upcoming Hong Kong IPO.
- Black Sesame International Holdings (BSIH) is an automotive-grade computing SoC and SoC-based intelligent vehicle solution provider.
- In this note, we will talk about the positive aspects of the deal.
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