IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Ant Group IPO Initiation: It's a Bug's Life

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/ant-financial-services-group" target="_blank" data-smartkarma-citation="entities:24240:1" rel="noopener">Ant Group (1051260D CH)</a> is the leading digital payments provider and leading digital finance platform in China based on total payment volume and transaction volume, respectively, according to iResearch and Oliver Wyman. In <a href="https://www.smartkarma.com/insights/ant-group-ipo-initiation-it-s-a-bug-s-life" target="_blank" rel="noopener">our initiation note</a>, we stated that Ant is a unique market-leading asset with attractive fundamentals.</p><div class="content-highlight"><p>Ant has launched its concurrent Hong Kong and STAR Market IPO to raise proceeds of $34.4 billion. The offer shares will be split evenly between Hong Kong and Shanghai. At the H share IPO price of HK$80.00, Ant will command a market cap of HK$2,430 billion ($313 billion). Overall, we think that the IPO price is reasonable for a unique market-leading asset with attractive fundamentals.</p></div>

Ant Group (1051260D CH) is the leading digital payments provider and leading digital finance platform in China based on total payment volume and transaction volume, respectively, according to iResearch and Oliver Wyman. In our initiation note, we stated that Ant is a unique market-leading asset with attractive fundamentals.Ant has launched its concurrent Hong Kong and STAR Market IPO to raise proceeds of $34.4 billion. The offer shares will be split evenly between Hong Kong and Shanghai. At the H share IPO price of HK$80.00, Ant will command a market cap of HK$2,430 billion ($313 billion). Overall, we think that the IPO price is reasonable for a unique market-leading asset with attractive fundamentals.

Ant Group

Ant Group IPO: Valuation Insights