COFCO Meat IPO Review - As Good as Betting on Hog Futures

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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

COFCO Joycome Foods / Equity Capital Markets

<p>Shareholders of <a href="https://www.smartkarma.com/entities/22858" target="_blank" data-smartkarma-citation="entities:22858:1">Cofco Meat (1610 HK)</a> are looking to raise US$123m through a selldown of 312m shares in an accelerated bookbuild.</p><p>Overall, the deal scored well on our owing to its strong price and earnings momentum while valuations still seemed reasonable compared to peers even after the strong share price rally this year. Earnings momentum had been strong while weekly pork prices continued to climb. Having said that, sentiment might be dampened due to continued selldown from financial investors.</p>

Shareholders of Cofco Meat (1610 HK) are looking to raise US$123m through a selldown of 312m shares in an accelerated bookbuild.Overall, the deal scored well on our owing to its strong price and earnings momentum while valuations still seemed reasonable compared to peers even after the strong share price rally this year. Earnings momentum had been strong while weekly pork prices continued to climb. Having said that, sentiment might be dampened due to continued selldown from financial investors.

Cofco Meat (中粮肉食) Placement - Selldown by Financial Investors but Strong Pork Price Could Help