The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.
This week has been fairly quiet again in the ECM space but we are picking up some activity. Deal flows will likely intensify in the coming few weeks.
In IPOs, PearlAbyss IPO bookbuild will start next Tuesday, 29th August, and close very quickly on the next day, 30th August. The deal size is about US$164m and market cap will be close to US$1bn at the bottom end of the price range. Sanghyun Park has analyzed the company earlier this month and this week:
- Pearl Abyss IPO Part 1 - Schedule, Financials & Valuation
- Pearl Abyss IPO Part 2 - Sales Projections & Valuation Discussion
In Japan, Mitsubishi Estate Logistics REIT will be launching its IPO book build on Thursday, 31st August and the offering size will be about US$466m.
At the same time, we will also be working on some early thoughts on India insurance IPOs in the coming few weeks as we saw a handful of them getting filed in the past few weeks, including HDFC Standard Life and Reliance Nippon Life.
Last but not least, there is still Chandra Asri Petrochemical (TPIA IJ)'s placement that is still ongoing. Rights start trading from 29th August to 5th September while the settlement is on 8th September. While its share price has retreated down significantly, it is still about 26% above the deal price of IDR18,000. We expect the share price to come down further when it settles.
Accuracy Rate:
Our overall accuracy rate is 73% for IPOs and 63% for Placements.
(Performance measurement criteria is explained at the end of the note)
New IPO filings this week:
- COFCO Womai (Hong Kong, US$500m)
- Future Supply Chain (India, US$109m)
Below is a snippet of our IPO tool on upcoming events for the next week. Our IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.
News on Upcoming IPOs
- Cromwell European Reit gets Singapore Exchange nod for S$1.6b IPO
- Indonesia Port Corporation & Garuda Indonesia to List Units
- Bandhan Bank initiates IPO process
List of pre-IPO Coverage on Smartkarma
| Name | Insight |
| Hong Kong | |
| AAB International | AAB International Pre-IPO Review - Stuck with a Dirty Diaper |
| Cenmintang | Cenmintang IPO Preview: A Beverage and Snack Play Whose Growth Is Hard to Grasp |
| China Feihe | China Feihe IPO Preview: Goat Bless Infant Formula Milk? |
| China New Uni | China New University IPO Preview: Track Record and Focus Attractive |
| China Literature | China Literature IPO Preview: Time to Monetize Its Rich Content Library |
| Bank of Jiujiang | Scraping the Bottom of the Barrel: Bank of JiuJiang |
| Razer | Razer Pre-IPO Review - For Gamers. By Gamers. But, Is It for Investors? |
| Shandong Int'l Trust | Shandong Int'l Trust Pre-IPO - Faltering Growth and Profitability Despite Aid from Prop Book |
| Zhongan Insurance | ZhongAn Insurance IPO Preview: How Long Will Early Bird Advantage Last? (Part 1) |
| South Korea | |
| Bodyfriend | Bodyfriend IPO Preview: Part I (Goodbye Osim, Hello Bodyfriend) Bodyfriend) |
| CJ OliveNetworks | CJ OliveNetworks - On A Fast Track to an IPO in 2017? |
| Data Solution | Datasolution IPO Summary - Questions Remain on Growth, but Market Seems Excited |
| Gentle Monster | Gentle Monster IPO - A Monster Growth |
| IsMedia |
IsMedia IPO Summary - Smartphone Camera Tester Maker |
| Korea Exchange | Korea Exchange IPO - Question Is When, Not If |
| Outin Futures | Outin Futures Corp IPO Preview (Part 1), Valuations (Part 2) |
| Woowa Bro | Woowa Brothers Corp IPO Preview (Part 1) - The Most Popular Food Delivery Service in Korea |
| V-One Tech | V-One Tech IPO Summary - Another OLED Stock IPO, IPO Bookbuilding Results |
| India | |
| Bharat Road | Bharat Road Network Pre-IPO Review - Young Road Assets but No Guarantees on Dividend |
| Matrimony | Matrimony.com Pre-IPO Review: Impressive Operating Performance but Legal Concerns Loom |
| NSE | National Stock Exchange Pre-IPO Review - Bigger, Better, Stronger but a Little Too Fast for Some |
| NSE | NSE IPO Preview- Not Only Fast..its Risky and Expensive |
| United States | |
| Best Inc. | Best Logistics Technologies Reportedly Prepares for $1bn+ IPO |
| Best Inc. | Best Inc IPO, Part 2 of 2: Valuation Versus Chinese Express Peers |
This insight is part of Smartkarma. For more follow this link.
This post first appeared on Smartkarma | Intelligent Investing, please read the originial post: here
