Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Kuaishou Pre-IPO: Strengthening Top Line and Ample Monetisation Opportunities

Blue Moon IPO: More Expensive than Multinational Household Care Players Even at Low-End of Pricing

17 Edu & Tech IPO Valuation: Fairly Valued at the Lower End of the IPO Pricing

Pop Mart IPO: Molly and Other Self-Developed IPs Fuel Strong Growth

Pop Mart IPO: 1H20 Impacted by Covid-19 but New Launches and Online Channels Should Support Earnings

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

2021 High Conviction - Rapid User Growth Will Set You Freee From Losses

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

Pop Mart International Group L / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/pop-mart-international-group-limited" target="_blank" data-smartkarma-citation="entities:29016:1" rel="noopener">POP MART (POP HK)</a>  is the largest pop toy company in China with a market share of 8.5% in terms of retail value in 2019. The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange.The company plans to issue 135.7m shares at an indicative IPO price range of HK$31.5-38.5 per share. And at the midpoint of the IPO price range of HK$35 per share, the company will raise gross proceeds of HK$4.75bn (US$612.7m) at a valuation of HK$43bn (US$5.6bn).In our previous insights on the company’s IPO, we examined the company’s business model, key brands and IPs and the company’s financials.Read our previous insights on the company's IPO:<a href="https://www.smartkarma.com/insights/pop-mart-ipo-molly-and-other-self-developed-ips-fuel-strong-growth" target="_blank" data-smartkarma-citation="insights:41040" rel="noopener">Pop Mart IPO: Molly and Other Self-Developed IPs Fuel Strong Growth</a> <a href="https://www.smartkarma.com/insights/pop-mart-ipo-1h20-impacted-by-covid-19-but-new-launches-and-online-channels-should-support-earnings" target="_blank" data-smartkarma-citation="insights:45616" rel="noopener">Pop Mart IPO: 1H20 Impacted by Covid-19 but New Launches and Online Channels Should Support Earnings</a>

POP MART (POP HK)  is the largest pop toy company in China with a market share of 8.5% in terms of retail value in 2019. The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange.The company plans to issue 135.7m shares at an indicative IPO price range of HK$31.5-38.5 per share. And at the midpoint of the IPO price range of HK$35 per share, the company will raise gross proceeds of HK$4.75bn (US$612.7m) at a valuation of HK$43bn (US$5.6bn).In our previous insights on the company’s IPO, we examined the company’s business model, key brands and IPs and the company’s financials.Read our previous insights on the company's IPO:Pop Mart IPO: Molly and Other Self-Developed IPs Fuel Strong Growth Pop Mart IPO: 1H20 Impacted by Covid-19 but New Launches and Online Channels Should Support Earnings 

Pop Mart IPO Valuation: Rich Multiples but Superior Growth Profile Justifies the Premium