Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Helens International Holdings IPO: Valuation Takes The Steam Out of Encouraging Growth Prospects

Helens International Holdings IPO Valuation

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

Helens International Holdings / Equity Capital Markets

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<li>The largest pub chain in China, <a href="https://www.smartkarma.com/entities/helen-s-international-holding" target="_blank" data-smartkarma-citation="entities:34113:1" rel="noopener">Helen's International Holding (9869 HK)</a> priced its IPO at the midpoint of the offer range (HK$19.77 per share). Shares started trading on the Hong Stock exchange today at HK$23.05 per share and currently trades at HK$ 24.15 per share 22.2% above the IPO price.</li>
<li>The pub chain has attracted decent interest from investors as the Hong Kong offer and international offer were oversubscribed by around 30.8x and 25.6x respectively.</li>
<li>What was already an expensive stock was made even more expensive after listing gains of 22% on the first trading session. We think IPO investors should look to cash in the listing gains as early as possible as Helen’s could give away most of the listing gains over the course of the next 3-4 weeks.</li>
</ul>


The largest pub chain in China, Helen's International Holding (9869 HK) priced its IPO at the midpoint of the offer range (HK$19.77 per share). Shares started trading on the Hong Stock exchange today at HK$23.05 per share and currently trades at HK$ 24.15 per share 22.2% above the IPO price.
The pub chain has attracted decent interest from investors as the Hong Kong offer and international offer were oversubscribed by around 30.8x and 25.6x respectively.
What was already an expensive stock was made even more expensive after listing gains of 22% on the first trading session. We think IPO investors should look to cash in the listing gains as early as possible as Helen’s could give away most of the listing gains over the course of the next 3-4 weeks.


Helens International Holdings IPO First Day Trading