Yuanta Financial Holding – Firing On All Cylinders

APAC IPOs & Placements

Zhen Zhou, Toh

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Chailease Holding / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/6579" target="_blank" data-smartkarma-citation="entities:6579:1">Chailease Holding Co Ltd (5871 TT)</a> is selling 25m of GDS (125m underlying shares) for approximately US$306m. Proceeds raised will be used to finance its expansion into Southeast Asia and repay existing bank loans.</p><p>The deal scores negatively on our framework owing to the long settlement date (primarily due to GDS settlement) and expensive valuation relative to peers. The company's expansion into Southeast Asia and China will likely lower the company's overall ROE even though it can help accelerate…</p>

Chailease Holding Co Ltd (5871 TT) is selling 25m of GDS (125m underlying shares) for approximately US$306m. Proceeds raised will be used to finance its expansion into Southeast Asia and repay existing bank loans.The deal scores negatively on our framework owing to the long settlement date (primarily due to GDS settlement) and expensive valuation relative to peers. The company's expansion into Southeast Asia and China will likely lower the company's overall ROE even though it can help accelerate…

Chailease Holding Placement - Expansion Could Potentially Lower Overall ROE