In today’s briefing:
- GoTo IPO – Valuation – Missed the Tide, Boat Won’t Rise
- Abacus Property Group Placement – Previous Deal Did Well, This One Won’t Be Accretive
- RecBio (江苏瑞科) Pre-IPO: Thoughts on Valuation
GoTo IPO – Valuation – Missed the Tide, Boat Won’t Rise
- GoTo aims to raise around US$1.25bn from a local listing, which will mainly be targeted at domestic investors.
- GoTo, is an Indonesian holding company, was formed in May 2021 as a result of a merger between Gojek, leading player in ride hailing, and Tokopedia, leading e-commerce player.
- In this note, we will talk about the company’s valuation.
Abacus Property Group Placement – Previous Deal Did Well, This One Won’t Be Accretive
- Abacus aims to raise around US$146m (A$200m) via issuing new shares worth 7.1% of issued shares.
- The company will use the proceeds from the placement to pay down debt that it has accumulated from earlier acquisition/construction.
- In this note, we will talk about the recent developments and run the deal through our ECM framework.
RecBio (江苏瑞科) Pre-IPO: Thoughts on Valuation
- RecBio is an innovative vaccine company with a focus on HPV vaccines. The company is pre-marketing its USD 100-200 million Hong Kong listing.
- In the previous note, we looked at the company’s core products, including its HPV portfolio and the COVID-19 vaccine. Though not impressive, it does provide exposure to China HPV market.
- In this insight, we provide our thoughts on valuation, including key assumptions.
Before it’s here, it’s on Smartkarma
