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

Nayuki Holdings IPO: Valuation First-Look

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<p><a href="https://www.smartkarma.com/entities/nayuki-holdings" target="_blank" data-smartkarma-citation="entities:32149:1" rel="noopener">Nayuki Holdings (NYK HK)</a> is the second-largest premium teahouse chain in China accounting for 17.7% of China’s premium modern teahouse market as measured by total retail consumption value in 9M20, according to CIC. Nayuki also has the most extensive teahouse network in China as measured by the number of cities covered, among premium modern teahouse chains in China in 9M20, according to CIC. It has filed for a Hong Kong IPO to raise up to $500 million, according to press reports.</p><div class="content-highlight"><p>Tea is the most popular drink in China with retail sales around six times of coffee retail sales in 2020. Mirroring the “coffee house” concept which popularized the concept of people hanging out and socializing over innovative coffee drinks, the concept of premium teahouses have emerged. These premium teahouses have rapidly gained popularity as they bring new tea-drinking experiences and benefit from the structural trend of ongoing consumer consumption upgrades driven by higher disposable income. In our view, Nayuki has the right ingredients to offer investors an attractive play on this market. </p></div>

Nayuki Holdings (NYK HK) is the second-largest premium teahouse chain in China accounting for 17.7% of China’s premium modern teahouse market as measured by total retail consumption value in 9M20, according to CIC. Nayuki also has the most extensive teahouse network in China as measured by the number of cities covered, among premium modern teahouse chains in China in 9M20, according to CIC. It has filed for a Hong Kong IPO to raise up to $500 million, according to press reports.Tea is the most popular drink in China with retail sales around six times of coffee retail sales in 2020. Mirroring the “coffee house” concept which popularized the concept of people hanging out and socializing over innovative coffee drinks, the concept of premium teahouses have emerged. These premium teahouses have rapidly gained popularity as they bring new tea-drinking experiences and benefit from the structural trend of ongoing consumer consumption upgrades driven by higher disposable income. In our view, Nayuki has the right ingredients to offer investors an attractive play on this market. 

Nayuki Holdings IPO Initiation: A New Leaf