Lufax IPO: Valuation Insights
Our valuation analysis suggests that the IPO price range is unattractive and we would be inclined to give the IPO a pass.
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Lufax IPO Initiation: Lost in Transition
We find it hard to be enthused by the Lufax story as its heavily reliant on a sector that has repeatedly been subject to regulatory blows which led...
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China Consumer Finance Pair Trade: Long 360 Finance/Short 9F
360 Finance, Inc. (QFIN US) is a leading online consumer lending platform and the finance partner of the 360 Group. 9F Inc (JFG US), a P2P lending...
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Home Credit IPO: NIM Improvement Driven by Mismatch in Maturity of Assets and Liabilities
Home Credit N.V. is an emerging market consumer finance company and they are planning to list its shares on the Hong Kong stock exchange with...
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Home Credit IPO: Valuation a Tough Sell
Home Credit (HC HK) is a leading emerging market consumer finance provider. Home Credit has started a two-week pre-marketing roadshow for a Hong...
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