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

China Literature / Equity Capital Markets

<p>Luxun Investment launched an HK$1 billion ($129 million) block in <a href="https://www.smartkarma.com/entities/china-literature-ltd" target="_blank" data-smartkarma-citation="entities:24388:1" rel="noopener">China Literature (772 HK)</a> at a placement price range of HK$35.50-36.00, according to press reports. Luxun Investment, which is a 4.9% shareholder, is owned by Carlyle Asia Partners.</p><div class="content-highlight"><p>We believe that China Literature continues to be a jam tomorrow story, which has (so far) failed to live up its IPO billing as “<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a>’s natural son.” Overall, we would not participate in the placement.</p></div>

Luxun Investment launched an HK$1 billion ($129 million) block in China Literature (772 HK) at a placement price range of HK$35.50-36.00, according to press reports. Luxun Investment, which is a 4.9% shareholder, is owned by Carlyle Asia Partners.We believe that China Literature continues to be a jam tomorrow story, which has (so far) failed to live up its IPO billing as “Tencent Holdings (700 HK)’s natural son.” Overall, we would not participate in the placement.

China Literature Placement: Avoid the Jam Tomorrow Story

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>China Literature launched IPO book-building on Monday this week, selling up to USD1,226m worth of shares. We have covered the company in our past insights (<a href="https://www.smartkarma.com/profiles/803" target="_blank" data-smartkarma-citation="accounts:803">Valerie Law, CFA</a>'s <a href="https://www.smartkarma.com/insights/china-literature-ipo-preview-time-to-monetize-its-rich-content-library" target="_blank">part 1</a> and <a href="https://www.smartkarma.com/insights/china-literature-vs-zhangyue-ipo-a-duel-between-crouching-tiger-and-hidden-dragon" target="_blank">part 2</a>, <a href="https://www.smartkarma.com/insights/china-literature-ipo-preview-a-monopoly-backed-monopoly" target="_blank">my preview</a>).</p><p>In this insight, we will look at the risks, valuation and score the deal in our ECM Framework.</p>

China Literature launched IPO book-building on Monday this week, selling up to USD1,226m worth of shares. We have covered the company in our past insights (Valerie Law, CFA's part 1 and part 2, my preview).In this insight, we will look at the risks, valuation and score the deal in our ECM Framework.

China Literature IPO: Positive Sentiment Despite a Long Way for IP Monetization

China

IReader Technology Co., Ltd operates as a mobile software development company. The Company develops and markets mobile phone reading applications, mobile phone cartoon applications, and other products. IReader Technology markets its products throughout China.

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Ireader Technology (603533 CH)

China Literature Placement: Avoid the Jam Tomorrow Story

Luxun Investment launched an HK$1 billion ($129 million) block in China Literature (772 HK) at a placement price range of HK$35.50-36.00, according...

Arun George

China Literature IPO: Positive Sentiment Despite a Long Way for IP Monetization

China Literature launched IPO book-building on Monday this week, selling up to USD1,226m worth of shares. We have covered the company in our past...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)