Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

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Xiabuxiabu Catering / Equity Capital Markets

<p>We would bid for the IPO, given that 1) the company is a dominant player in fast casual hotpot market and has competitive advantage in its supply chain management over its peers; and 2) The valuation range (15.4x – 17.5x 2015E PER) represents 24% to 13% discount to its peers’ average 20.2x PER, providing valuation support upon debut.</p>

We would bid for the IPO, given that 1) the company is a dominant player in fast casual hotpot market and has competitive advantage in its supply chain management over its peers; and 2) The valuation range (15.4x – 17.5x 2015E PER) represents 24% to 13% discount to its peers’ average 20.2x PER, providing valuation support upon debut.

Xiabu Xiabu IPO - Buy the leading hotpot restaurant chain