Vesync IPO - The Tale of Valuation Dichotomy

APAC IPOs & Placements

Zhen Zhou, Toh

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/vesync" target="_blank" data-smartkarma-citation="entities:31067:1" rel="noopener">Vesync (2148 HK)</a> raised US$200m in its Hong Kong IPO, priced at the top-end of its price range.</p>
<p>The company sells small home appliances mainly through Amazon’s e-commerce marketplace and its products range from home environment appliances to health monitoring devices. The company derived most of its revenue from North America.</p>
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<p>In this note, we will look at the deal dynamics and provide a table with implied valuation at different share price levels.</p>
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<p>Our previous coverage of the IPO:</p>
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<a href="https://www.smartkarma.com/insights/vesync-ipo-the-tale-of-valuation-dichotomy" target="_blank" data-smartkarma-citation="insights:46142" rel="noopener">Vesync IPO - The Tale of Valuation Dichotomy</a> </li>
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Vesync (2148 HK) raised US$200m in its Hong Kong IPO, priced at the top-end of its price range.
The company sells small home appliances mainly through Amazon’s e-commerce marketplace and its products range from home environment appliances to health monitoring devices. The company derived most of its revenue from North America.

In this note, we will look at the deal dynamics and provide a table with implied valuation at different share price levels.


Our previous coverage of the IPO:


Vesync IPO - The Tale of Valuation Dichotomy 



Vesync IPO Trading - Priced at Top-End but Still Reasonable