Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Bilibili in Talks to Buy 24% Stake in Yoozoo Games to Enhance and Strengthen Content Offerings

Trip.com Secondary: Further Upside to SOTP Possible with Recovery in Travel and Hospitality Sector

We Doctor Pre-IPO: Front-Runner in Digital Medical Services in China

ADR/HKEX Analysis: Lower Trading Volumes on HKEX Show Limited Liquidity Compared to the US

Bairong IPO: Big Data for Credit and Risk Management

Bairong IPO Valuation: Appealing Valuation

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

The Chinese financial technology platform <a href="https://www.smartkarma.com/entities/bairong" target="_blank" data-smartkarma-citation="entities:31486:1" rel="noopener">Bairong (1569395D CH)</a>  started trading on the Hong Kong Stock Exchange on 31st March 2021. Bairong priced its IPO at HK$31.8 per share, at the upper end of the indicative IPO price range of HK$26.5-31.8 per share.At the above price, Bairong raised net proceeds of HK$3.76bn (US$454.5m) at a market capitalisation of HK$15.8bn and an enterprise value of HK$11.8bn. Despite the company’s IPO being priced attractively, Bairong’s shares slumped at its HK debut, closing 16% lower than its final IPO price at HK$26.7 per share at the end of first-day trading.As Beijing has tightened regulations on the country’s fintech sector, investors have become wary of these impacts on Bairong’s business. Bairong’s plans to use the IPO proceeds on funding its business expansion, R&amp;D and other general corporate purposes.

The Chinese financial technology platform Bairong (1569395D CH)  started trading on the Hong Kong Stock Exchange on 31st March 2021. Bairong priced its IPO at HK$31.8 per share, at the upper end of the indicative IPO price range of HK$26.5-31.8 per share.At the above price, Bairong raised net proceeds of HK$3.76bn (US$454.5m) at a market capitalisation of HK$15.8bn and an enterprise value of HK$11.8bn. Despite the company’s IPO being priced attractively, Bairong’s shares slumped at its HK debut, closing 16% lower than its final IPO price at HK$26.7 per share at the end of first-day trading.As Beijing has tightened regulations on the country’s fintech sector, investors have become wary of these impacts on Bairong’s business. Bairong’s plans to use the IPO proceeds on funding its business expansion, R&amp;D and other general corporate purposes.

OneConnect Financial Technology (OCFT US)

Bairong: Shares Slip Further on Regulatory Concerns; Current Multiples Attractive to Make an Entry