In today’s briefing:
- GoTo Gojek Tokopedia IPO: Valuation Insights
- ECM Weekly (20th Mar 2022) – JD.com, Tencent, Prosus, GoTo, Ferretti, Green Tea, Recbio, Abacus
GoTo Gojek Tokopedia IPO: Valuation Insights
- GoTo (1379371D IJ) is the leading digital ecosystem in Southeast Asia. It seeking to raise up to $1.3 billion. Bookbuilding ends on 21 March.
- In GoTo Gojek Tokopedia IPO Initiation: Island Shopping, we noted that the fundamentals are mixed as the high growth is accompanied by ongoing losses and cash burn.
- Our valuation analysis suggests that the price range is aggressive and unattractive. We would give the IPO a pass.
ECM Weekly (20th Mar 2022) – JD.com, Tencent, Prosus, GoTo, Ferretti, Green Tea, Recbio, Abacus
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- GoTo (1379371D IJ) launched its bookbuild but decided to keep it local, with no international bookrunners.
- Placements continue to trickle in with Abacus Property (ABP AU) managing to raise US$150m odd. All eyes will be on JD.com Inc. (9618 HK) in the coming week.
Before it’s here, it’s on Smartkarma
