Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

Cango (灿谷好车) IPO: A Leading Tech-Driven Auto Finance Player but Slow Growth Concerns Us

Smartkarma

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Equity Capital Markets

<p>In our earlier insight,  <a href="https://www.smartkarma.com/insights/cango-ipo-a-leading-tech-driven-auto-finance-player-but-slow-growth-concerns-us" target="_blank" data-smartkarma-citation="insights:22018">Cango (灿谷好车) IPO: A Leading Tech-Driven Auto Finance Player but Slow Growth Concerns Us</a>, we covered the company's background and industry backdrop. As per its IPO pricing, Cango aims to raise up to USD172.5m (including over-allotment), significantly less than the US$300m that was quoted in earlier media reports. In this insight, we will look at a few topics that we haven't covered in our previous quick note: </p>
<ul>
<li>Shanghai Autohome acquisition</li>
<li>Worrisome 2Q operating metrics</li>
<li>Thoughts on valuation</li>
</ul>

In our earlier insight,  Cango (灿谷好车) IPO: A Leading Tech-Driven Auto Finance Player but Slow Growth Concerns Us, we covered the company's background and industry backdrop. As per its IPO pricing, Cango aims to raise up to USD172.5m (including over-allotment), significantly less than the US$300m that was quoted in earlier media reports. In this insight, we will look at a few topics that we haven't covered in our previous quick note: 

Shanghai Autohome acquisition
Worrisome 2Q operating metrics
Thoughts on valuation


Cango (灿谷好车) IPO: Moving Parts Making Valuation Tricky

Cango Inc

Cango (灿谷好车) IPO: Moving Parts Making Valuation Tricky