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

Dada Nexus IPO Initiation: Delivering the Goods

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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-ltd" target="_blank" data-smartkarma-citation="entities:28961:1" rel="noopener">Dada Nexus Ltd (DADA US)</a> is seeking to raise as much as $521 million (at the last close price) through an issue of 9 million ADSs. The funds will be used for implementing its marketing initiatives and growing its user base, for investing in technology and research and development, as well as for general corporate purposes.</p><p>The follow-on offering comes just five months from the June IPO, where Dada Nexus raised net proceeds of $297.9 million at $16 per ADS. The shares have been of a tear and have risen 3.6x since the IPO. The net cash including lease liabilities stood at $450 million at the end of 9M20. </p><div class="content-highlight"><p>We remain bullish on Dada Nexus’ prospects and believe that the company remains on track to combine its fast-paced growth with profitability. Notwithstanding, the strong share price run, the shares continue to look attractive for the growth on offer. Overall, we would participate in the placement.</p></div>

Dada Nexus Ltd (DADA US) is seeking to raise as much as $521 million (at the last close price) through an issue of 9 million ADSs. The funds will be used for implementing its marketing initiatives and growing its user base, for investing in technology and research and development, as well as for general corporate purposes.The follow-on offering comes just five months from the June IPO, where Dada Nexus raised net proceeds of $297.9 million at $16 per ADS. The shares have been of a tear and have risen 3.6x since the IPO. The net cash including lease liabilities stood at $450 million at the end of 9M20. We remain bullish on Dada Nexus’ prospects and believe that the company remains on track to combine its fast-paced growth with profitability. Notwithstanding, the strong share price run, the shares continue to look attractive for the growth on offer. Overall, we would participate in the placement.

Dada Nexus

Dada Nexus Placement: Ascend and Deliver