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

RLX Technology Vs Smoore: Which Is a Better Play on the Vaping Market?

Smoore IPO Initiation: Into the Vaping Zone

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

RLX Technology Inc / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/rlx-technology-inc" target="_blank" data-smartkarma-citation="entities:31113:1" rel="noopener">RLX Technology Inc (RLX US)</a> is the leading branded e-vapour company in China with 62.6% of the market share of closed-system e-vapour products as measured by retail sales value in 9M20, according to CIC. It is backed by Sequoia Capital, a 4.9% shareholder. It is seeking is raise as much as $1 billion through an NYSE IPO (it has filed with a $100 million placeholder raise), according to press reports.</p><div class="content-highlight"><p>RLX is a play on the rapid growth of the e-vapour market in China which is dominated by closed-system products, which accounted for 74.1% of the e-vapour market by retail sales value in 2019, according to CIC. China’s closed-system e-vapour market is forecasted to grow at a CAGR of 77.5% from 2019 to 2023 to reach $11.0 billion in 2023, according to CIC. While regulatory uncertainty will remain an overhang, RLX is an attractive play on this secular growth trend.</p></div>

RLX Technology Inc (RLX US) is the leading branded e-vapour company in China with 62.6% of the market share of closed-system e-vapour products as measured by retail sales value in 9M20, according to CIC. It is backed by Sequoia Capital, a 4.9% shareholder. It is seeking is raise as much as $1 billion through an NYSE IPO (it has filed with a $100 million placeholder raise), according to press reports.RLX is a play on the rapid growth of the e-vapour market in China which is dominated by closed-system products, which accounted for 74.1% of the e-vapour market by retail sales value in 2019, according to CIC. China’s closed-system e-vapour market is forecasted to grow at a CAGR of 77.5% from 2019 to 2023 to reach $11.0 billion in 2023, according to CIC. While regulatory uncertainty will remain an overhang, RLX is an attractive play on this secular growth trend.

RLX Technology IPO Initiation: Smoke Signals