Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Yanolja Unicorn Gets Ready for an IPO in Korea - "Love Hotel" App Goes Mainstream

Airbnb Pre-IPO – Travelling Down an Actual Path to Profitability

Bits and Bytes: A Primer on OYO Rooms & Its Significance to Airbnb.

2020 IPOs Pipeline Worldwide (Top 100 Companies)

Equity Capital Markets

Airbnb is getting ready to complete its IPO in the next several weeks. Airbnb filed for an initial public offering on Monday, <a href="https://www.sec.gov/Archives/edgar/data/1559720/000119312520294801/d81668ds1.htm#toc81668_1" target="_blank" rel="noopener">released its prospectus</a>, and indicated it will trade on the Nasdaq exchange under the ticker symbol ABNB.Airbnb's private market valuations declined from as high as $31 billion in 2017 to as low as $18 billion this year due to the COVID-19 pandemic. In April 2020, the company raised $2 billion in debt and equity financing, valuing the company at $18 billion. It probably makes more sense for Airbnb to ride out the COVID-19 and wait for another one or two years to complete its IPO which could result in higher valuations for the company. However, there have been some high pressure for the company to go public, especially from key employees whose <a href="https://www.businessinsider.com/airbnb-files-s1-public-ipo-paperwork-revenue-losses-covid-19-2020-11?r=US&amp;IR=T" target="_blank" rel="noopener">stock options</a> set to start to expire soon. Morgan Stanley and Goldman Sachs are the lead bankers in this IPO. Airbnb put the IPO placeholder at $1 billion but there is a good chance that this figure is revised up considerably to nearly $3 billion. The Airbnb IPO is likely to be one of the largest IPOs globally this year.

Airbnb is getting ready to complete its IPO in the next several weeks. Airbnb filed for an initial public offering on Monday, released its prospectus, and indicated it will trade on the Nasdaq exchange under the ticker symbol ABNB.Airbnb's private market valuations declined from as high as $31 billion in 2017 to as low as $18 billion this year due to the COVID-19 pandemic. In April 2020, the company raised $2 billion in debt and equity financing, valuing the company at $18 billion. It probably makes more sense for Airbnb to ride out the COVID-19 and wait for another one or two years to complete its IPO which could result in higher valuations for the company. However, there have been some high pressure for the company to go public, especially from key employees whose stock options set to start to expire soon. Morgan Stanley and Goldman Sachs are the lead bankers in this IPO. Airbnb put the IPO placeholder at $1 billion but there is a good chance that this figure is revised up considerably to nearly $3 billion. The Airbnb IPO is likely to be one of the largest IPOs globally this year.

Airbnb IPO Preview - "It Is All About Trust"