Equity Analyst, LightStream Research

Farha Sabri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Global Fashion Group SA / Equity Capital Markets

Global Fashion Group (GFG) is an online fashion retailer mainly targeting sales in emerging markets. The company is registered in Luxemburg with Headquarters in both Singapore and London. The company was expected to list in the Frankfurt Stock Exchange on the 27th of June. The company, which had set an IPO price between the range of EUR6-EUR8 per share ended up postponing the listing date to July 2nd while reducing the IPO price per share to EUR4.5 per share. While the delay may have weakened investor confidence on the company, we remain optimistic on the company’s future prospects. The company aims to invest the proceeds from the IPO to further develop its technology platform and improve customer acquisition rates, improve fulfilment and distribution infrastructure, and invest in general corporate purposes.

Global Fashion Group (GFG) is an online fashion retailer mainly targeting sales in emerging markets. The company is registered in Luxemburg with Headquarters in both Singapore and London. The company was expected to list in the Frankfurt Stock Exchange on the 27th of June. The company, which had set an IPO price between the range of EUR6-EUR8 per share ended up postponing the listing date to July 2nd while reducing the IPO price per share to EUR4.5 per share. While the delay may have weakened investor confidence on the company, we remain optimistic on the company’s future prospects. The company aims to invest the proceeds from the IPO to further develop its technology platform and improve customer acquisition rates, improve fulfilment and distribution infrastructure, and invest in general corporate purposes.

Global Fashion Group IPO: We Remain Bullish on the Company Despite Problems Surrounding Listing