ECM Weekly (2 Feb 2020) - Smoore, Innocare, Kilcoy Global, Mr. DIY
Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
ECM activity in Asia has quieten down as markets took a dive in this week.
We were expecting some IPOs to come to market soon but some were already said to be delaying their launch. InnoCare Pharma Ltd (1576300D CH) which was planning to start gauging demand for its IPO decided to postpone investors' meeting. Nonetheless, Ke Yan, CFA, FRM has already shared his thoughts on valuation in:
We also have not heard anything on Lion Air's IPO after it was reported last week that it has started to premarket its IPO. Other IPOs in the pipeline includes Mr. DIY which will likely premarket/launch by this quarter and Megvii Technology (1737211D HK) which was said to have been approved and will look to launch after Chinese New Year.
In India, the pipeline continues to grow with the Government of India announcing its intention to list LIC (Life Insurance Corp) in FY21. The company is the largest life insurance company in India with over 50% market share. Upon listing it will likely be one of the largest listed stocks in India. We await more details to be reported.
In Singapore, Elite Commercial REIT prices IPO at $1.21 per unit and trading debut will be on the 6th of February. On a side note, the smaller Trans-cab IPO bites the dust again with as the company is postponing it on the back of virus outbreak concerns.
Accuracy Rate:
Our overall accuracy rate is 73.6% for IPOs and 65% for Placements
(Performance measurement criteria is explained at the end of the note)
No new IPO filings this week
Below is a snippet of our IPO tool showing upcoming events for the next week. The IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.
News on Upcoming IPOs
Analysis on Upcoming IPOs
- InnoCare (诺诚健华) Pre-IPO: Thoughts on Valuation
- Smoore Intl (思摩尔国际) Pre-IPO: Thoughts on E-Cig Regulation
- Mr D.I.Y. Pre-IPO - Store Walk-Through and Thoughts on Value Proposition
- Kilcoy Global Foods Pre-IPO - Rapid Earnings Growth on the Back of Margin Improvement
- Kilcoy Global Foods Pre-IPO - A Lot of Things Still Remain Unexplained
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- Kilcoy Global Foods Pre-IPO - A Lot of Things Still Remain Unexplained30 Jan 2020
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