In today’s briefing:
- NIO HK Listing – Ticking the Box
- Farm Fresh IPO: Valuation Insights
NIO HK Listing – Ticking the Box
- NIO announced that it would look to list in the HK by way of introduction with trading set to begin on 10th March 2022.
- Unlike a secondary or a dual primary listing, there will be no new capital raised and there will be no secondary shares sold either.
- In this note we take a quick look at the deal dynamics.
Farm Fresh IPO: Valuation Insights
- Farm Fresh Berhad (FF MY) is a leading vertically integrated dairy player in Malaysia. It has launched an IPO to raise $239 million.
- In Farm Fresh IPO Initiation: Bet the Farm, we stated that the IPO is worth a closer look on a fundamental basis. The offer period is from 28 February-10 March.
- 30 cornerstone investors will take up c.80% of the institutional offering tranche. Our valuation analysis suggests that the IPO price is attractive.
Before it’s here, it’s on Smartkarma
