In today’s briefing:
- Huitongda (汇通达) IPO Trading – Subscription Rates and Cornerstone Quality Leaves Much to Be Desired
Huitongda (汇通达) IPO Trading – Subscription Rates and Cornerstone Quality Leaves Much to Be Desired
- Huitongda (9878 HK) raised around US$285m in its Hong Kong IPO.
- Overall, we are not comfortable with paying a premium valuation for HTD given its small scale of operations in a highly competitive and fragmented market.
- In this note, we will look at the trading dynamics and current valuation.
Before it’s here, it’s on Smartkarma
