IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/dada-nexus" target="_blank" data-smartkarma-citation="entities:28961:1" rel="noopener">Dada Nexus (DADA US)</a> is a leading platform of local on-demand retail and delivery in China. It operates JD-Daojia (JDDJ), a local on-demand retail platform, and Dada Now, a local on-demand delivery platform. Dada Nexus is backed by <a href="https://www.smartkarma.com/entities/jd-com-inc-adr" target="_blank" data-smartkarma-citation="entities:446:1" rel="noopener">JD.com Inc (ADR) (JD US)</a> (47.4% stake on a fully diluted basis), Sequoia Capital (10.5%), <a href="https://www.smartkarma.com/entities/walmart-inc" target="_blank" data-smartkarma-citation="entities:11134:1" rel="noopener">Walmart (WMT US)</a> (9.9%) and DST Global (8.7%). Dada Nexus filed for a Nasdaq IPO to raise $500 million, according to press reports.<div class="content-highlight">Dada Nexus was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. The bears can argue with some merit that the 1Q20 performance is a one-off. However, it is likely that the corona pandemic has shifted some customer behaviour permanently in favour of Dada Nexus’ business. Dada Nexus' fundamentals tick all the right boxes and worth a look, in our view.</div>

Dada Nexus (DADA US) is a leading platform of local on-demand retail and delivery in China. It operates JD-Daojia (JDDJ), a local on-demand retail platform, and Dada Now, a local on-demand delivery platform. Dada Nexus is backed by JD.com Inc (ADR) (JD US) (47.4% stake on a fully diluted basis), Sequoia Capital (10.5%), Walmart (WMT US) (9.9%) and DST Global (8.7%). Dada Nexus filed for a Nasdaq IPO to raise $500 million, according to press reports.Dada Nexus was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. The bears can argue with some merit that the 1Q20 performance is a one-off. However, it is likely that the corona pandemic has shifted some customer behaviour permanently in favour of Dada Nexus’ business. Dada Nexus' fundamentals tick all the right boxes and worth a look, in our view.

Dada Nexus IPO Initiation: Delivering the Goods

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.

<a href="https://www.smartkarma.com/entities/dada-nexus" target="_blank" data-smartkarma-citation="entities:28961:1" rel="noopener">Dada Nexus (DADA US)</a> is looking to raise about US$500m in its upcoming IPO in the U.S. The company is a fast-growing local on-demand retail and delivery platform.  It has benefited from the virus outbreak in China which seems to have accelerated the shift towards O2O service. This could be seen from DADA ’s improved growth in revenue and operating metrics as of Q1 2020 results. Furthermore, with support from key players such as JD.com and Walmart, the company has scaled its operations well over the past three years. The key players also have substantial vested interest in DADA.

Dada Nexus (DADA US) is looking to raise about US$500m in its upcoming IPO in the U.S. The company is a fast-growing local on-demand retail and delivery platform.  It has benefited from the virus outbreak in China which seems to have accelerated the shift towards O2O service. This could be seen from DADA ’s improved growth in revenue and operating metrics as of Q1 2020 results. Furthermore, with support from key players such as JD.com and Walmart, the company has scaled its operations well over the past three years. The key players also have substantial vested interest in DADA.

Dada Nexus (达达集团) Pre-IPO First Look - Benefiting from Virus Outbreak

China

Dada Nexus Limited operates a platform for local on-demand retail and delivery. The Company provides a digital solution leveraging the crowdsourcing model to address the challenge of frequent fluctuations brought forward by the nature of on-demand orders and to match the surging demand for delivery capacity with efficient supply. Dada Nexus serves customers in China.

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Dada Nexus (DADA US)

Dada Nexus IPO Initiation: Delivering the Goods

Dada Nexus (DADA US) is a leading platform of local on-demand retail and delivery in China. It operates JD-Daojia (JDDJ), a local on-demand retail...

Arun George

Dada Nexus (达达集团) Pre-IPO First Look - Benefiting from Virus Outbreak

Dada Nexus (DADA US) is looking to raise about US$500m in its upcoming IPO in the U.S. The company is a fast-growing local on-demand retail and...

Zhen Zhou, Toh

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