APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Equity Capital Markets

Tongdao Liepin Group / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27177" target="_blank" data-smartkarma-citation="entities:27177:1">Wise Talent Information Tech (6100 HK)</a> is looking to raise US$400m in its upcoming IPO. Proceeds will be used to enhance company’s R&amp;D capabilities and product offerings, pursue acquisitions or investments,  improve sales and marketing initiatives, and general working capital.Liepin is an online talent services platform focussed on mid to high-end talent acquisition. Its growth has been decent, driven by adding more business and individual users as well as an improving ARPPU. It managed to turn a tiny profit in FY2017, achieving operational leverage. A comparison with peers shows that it not only operates at a much higher ARPPU than its next two closest competitors, it is also growing much faster than them.In this insight, we will be analyzing the company's operational and financial performance, comparing the scale of its platform compared to competitors, and valuing it against other Chinese talent acquisition and recruitment firms. Last, but not least, we will run the deal through our ECM framework.

Wise Talent Information Tech (6100 HK) is looking to raise US$400m in its upcoming IPO. Proceeds will be used to enhance company’s R&amp;D capabilities and product offerings, pursue acquisitions or investments,  improve sales and marketing initiatives, and general working capital.Liepin is an online talent services platform focussed on mid to high-end talent acquisition. Its growth has been decent, driven by adding more business and individual users as well as an improving ARPPU. It managed to turn a tiny profit in FY2017, achieving operational leverage. A comparison with peers shows that it not only operates at a much higher ARPPU than its next two closest competitors, it is also growing much faster than them.In this insight, we will be analyzing the company's operational and financial performance, comparing the scale of its platform compared to competitors, and valuing it against other Chinese talent acquisition and recruitment firms. Last, but not least, we will run the deal through our ECM framework.

Beijing Career International-A (300662 CH)

Wise Talent (Liepin) IPO Review - Profitability Can Be Improved Easily