FWD IPO - Valuation Down but Its Difficult to Get Excited About It
FWD Group, a pan-Asian life insurer founded by Richard Li, aims to raise around US$442m in its HK IPO. In this note, we talk about the IPO pricing.
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FWD Pre-IPO - PHIP Updates - Growth Slowing, Metrics Evolution Continues
FWD Group Holdings (FWD HK), a pan-Asian life insurer founded by Richard Li, now aims to raise around US$500m in its HK IPO. In this note, we look...
579 Views
Merger Arb Mondays (23 June) - ENN Energy, Dickson, HKBN, Mayne, Insignia, Santos, Smartpay
We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan,...
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HK Short Interest Weekly: Beke, Zijin Mining, Wuxi Apptec, AIA, Tencent, BYD, Li Auto
We analyzed the latest HK SFC report for aggregate short position as of Jun 13th and highlight short interest changes in Beke, Zijin Mining, Wuxi...
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FWD Group IPO: The Investment Case
This note outlines the investment case. My analysis suggests that the fundamentals are mixed as FWD is rapidly growing its new business, but at the...
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