China Literature IPO: Positive Sentiment Despite a Long Way for IP Monetization

China Literature IPO Preview: A Monopoly Backed Monopoly

China Literature Placement - Quick Take - Might Be Just the Beginning of the Exit

APAC IPOs & Placements

Zhen Zhou, Toh

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

China Literature / Equity Capital Markets

<p>Carlyl is looking to sell its shares in <a href="https://www.smartkarma.com/entities/china-literature-ltd" target="_blank" data-smartkarma-citation="entities:24388:1" rel="noopener">China Literature (772 HK)</a> to raise up to US$206m. This is a clean-up trade. My colleagues have previously covered Carlyle's first selldown and the IPO in: </p><ul>
<li>
<a href="https://www.smartkarma.com/insights/china-literature-placement-quick-take-might-be-just-the-beginning-of-the-exit" target="_blank" data-smartkarma-citation="insights:31288" rel="noopener">China Literature Placement - Quick Take - Might Be Just the Beginning of the Exit</a> </li>
<li>
<a href="https://www.smartkarma.com/insights/china-literature-ipo-positive-sentiment-despite-a-long-way-for-ip-monetization" target="_blank" data-smartkarma-citation="insights:14621" rel="noopener">China Literature IPO: Positive Sentiment Despite a Long Way for IP Monetization</a> </li>
<li>
<a href="https://www.smartkarma.com/insights/china-literature-ipo-preview-a-monopoly-backed-monopoly" target="_blank" data-smartkarma-citation="insights:14554" rel="noopener">China Literature IPO Preview: A Monopoly Backed Monopoly</a> </li>
</ul><p>Overall, the deal scored poorly on our framework owing to weak momentum and large deal size. However, considering that the share price momentum of late and removal of overhang, we think that it could be worth a bet here.</p>

Carlyl is looking to sell its shares in China Literature (772 HK) to raise up to US$206m. This is a clean-up trade. My colleagues have previously covered Carlyle's first selldown and the IPO in: 

China Literature Placement - Quick Take - Might Be Just the Beginning of the Exit 

China Literature IPO: Positive Sentiment Despite a Long Way for IP Monetization 

China Literature IPO Preview: A Monopoly Backed Monopoly 
Overall, the deal scored poorly on our framework owing to weak momentum and large deal size. However, considering that the share price momentum of late and removal of overhang, we think that it could be worth a bet here.

China Literature Placement - Worth a Bet with Overhang Removed