In today’s briefing:
- Persol Holdings Placement – Selldown by Cross-Shareholder
- Linmon Media (柠萌影业) Pre-IPO – Consistently Putting up a Good Show
- Emcure Pharmaceuticals Pre-IPO – Proforma Earnings Were Strong but It Faces a Host of Legal Issues
- Vedant Fashions IPO Trading – Liked by Instis While Retail Gave It a Miss
- Pre-IPO Biocytogen Pharmaceuticals – The Novel Development Model Offset the Pipeline’s Shortcomings
Persol Holdings Placement – Selldown by Cross-Shareholder
- Kelly Services Inc A (KELYA US) aims to raise around US$200m via selling its 3.8% stake in Persol Holdings (2181 JP).
- Kelly Services mentioned that it was looking to end its cross-shareholding with Persol Holdings in its earnings announcement. The two share a JV in PersolKelly.
- In this note, we will run the deal through our ECM framework and comment on other deal dynamics.
Linmon Media (柠萌影业) Pre-IPO – Consistently Putting up a Good Show
- Linmon Media (LM HK) is looking to raise about US$300m in its upcoming Hong Kong IPO.
- Linmon Media (LM) is a content production firm that operates the full value chain of investment, production, distribution, promotion and derivatives licensing of drama series.
- In this note, we take a look at LM’s business, financials, and share our thoughts on the IPO.
Emcure Pharmaceuticals Pre-IPO – Proforma Earnings Were Strong but It Faces a Host of Legal Issues
- Emcure Pharmaceuticals Limited is looking to raise around US$500m in its upcoming India IPO.
- EP is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
- In this note, we talk about the various aspects of the deal.
Vedant Fashions IPO Trading – Liked by Instis While Retail Gave It a Miss
- Vedant Fashions raised around US$420m in its India IPO. While insti demand was decent, retail investor gave it a miss.
- It is a fashionwear company targeting the Indian wedding and celebration wear segment. According to CRISIL, it was the largest company in India in the men’s Indian wedding wear segment.
- In this note, we will talk about the trading updates and other deal dynamics.
Pre-IPO Biocytogen Pharmaceuticals – The Novel Development Model Offset the Pipeline’s Shortcomings
- The candidates in Biocytogen’s pipeline do not have advantages in development progress and also have to face fierce competition, so continuous large R&D investment in the future would be inevitable.
- However, the development model of Biocytogen is very novel and special, which could make it a rare target in the market if it is successfully listed.
- Therefore, the certainty of Biocytogen’s future growth is expected to improve gradually, and the mid- and long-term investment value would continue to increase due to the high moat.
Before it’s here, it’s on Smartkarma
