IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Burning Rock Biotech IPO Initiation: Burning Ambitions

Burning Rock Biotech IPO: Valuation Insights

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/dada-nexus" target="_blank" data-smartkarma-citation="entities:28961:1" rel="noopener">Dada Nexus (DADA US)</a> is a leading platform of local on-demand retail and delivery in China. It operates JD-Daojia (JDDJ), a local on-demand retail platform, and Dada Now, a local on-demand delivery platform. Dada Nexus is backed by <a href="https://www.smartkarma.com/entities/jd-com-inc-adr" target="_blank" data-smartkarma-citation="entities:446:1" rel="noopener">JD.com Inc (ADR) (JD US)</a> (47.4% stake on a fully diluted basis), Sequoia Capital (10.5%), <a href="https://www.smartkarma.com/entities/walmart-inc" target="_blank" data-smartkarma-citation="entities:11134:1" rel="noopener">Walmart (WMT US)</a> (9.9%) and DST Global (8.7%). Dada Nexus filed for a Nasdaq IPO to raise $500 million, according to press reports.</p><div class="content-highlight"><p>Dada Nexus was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. The bears can argue with some merit that the 1Q20 performance is a one-off. However, it is likely that the corona pandemic has shifted some customer behaviour permanently in favour of Dada Nexus’ business. Dada Nexus' fundamentals tick all the right boxes and worth a look, in our view.</p></div>

Dada Nexus (DADA US) is a leading platform of local on-demand retail and delivery in China. It operates JD-Daojia (JDDJ), a local on-demand retail platform, and Dada Now, a local on-demand delivery platform. Dada Nexus is backed by JD.com Inc (ADR) (JD US) (47.4% stake on a fully diluted basis), Sequoia Capital (10.5%), Walmart (WMT US) (9.9%) and DST Global (8.7%). Dada Nexus filed for a Nasdaq IPO to raise $500 million, according to press reports.Dada Nexus was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. The bears can argue with some merit that the 1Q20 performance is a one-off. However, it is likely that the corona pandemic has shifted some customer behaviour permanently in favour of Dada Nexus’ business. Dada Nexus' fundamentals tick all the right boxes and worth a look, in our view.

Dada Nexus IPO Initiation: Delivering the Goods