In today’s briefing:
- Green Tea Group IPO Preview
- Ferretti Group Pre-IPO: Might Disappoint Again
- Arrail IPO: Peer Comparison and Valuation
Green Tea Group IPO Preview
- Green Tea Group (GT HK) received the Hong Kong Stock Exchange approval to launch its IPO on 7th March 2022, almost a year after filing its first application.
- The company expects to raise around US$100-200m via an IPO jointly sponsored by Citi and CMB International.
- Growth prospects look decent with plans to open 75-100 new restaurants each year. However, We aren’t excited about the IPO as the Company’s business model seems significantly weaker than peers.
Ferretti Group Pre-IPO: Might Disappoint Again
- Ferretti is a leading yacht builder based in Italy. The company is looking to raise up to USD 500 m via a Hong Kong listing.
- We look at the company’s key product segments, operating metrics, financials, and industry.
- We provide our quick thoughts on the industry, valuation, and our concerns.
Arrail IPO: Peer Comparison and Valuation
- Arrail, the largest dental services provider in China’s premium dental service market has announced the terms for its IPO.
- The company plans to raise net proceeds of approx. HK$590m (US$75.9m) through issuing 46.5m at a price of HK$14.62 per share.
- Cornerstone investors have agreed to purchase approx. US$65m worth of shares and these investors include Abax, Harvest, Hudson Bay, OrbiMed and TVHKL.
Before it’s here, it’s on Smartkarma
