HK Exchange (388): Beneficiary of HK Tech Crack Down
HKEX (388 HK) may be the only Exchange approved by the Chinese government for Chinese companies to raise money from foreign investors. Maintain Buy
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Manycore Tech Pre-IPO - High but Declining Market Share
Manycore Tech (MTI), the world’s largest platform for 3D interior design, decoration and construction, aims to raise at least US$100m in its US...
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Linklogis IPO Trading - Decent but Not Hot Demand
Linklogis, a technology solution provider for supply chain finance in China raised around US$1bn in its Hong Kong IPO. Its early investors include...
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Bairong IPO Trading - Strong Overall Demand but Comes with Large Retail Allocation
Bairong raised around US$508m in its Hong Kong IPO. We have covered various aspects of the deal in our earlier notes. In this note, we will talk...
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Linklogis IPO Valuation: Offer Multiples Are Not Cheap, Still Room For Upside on Trading Debut
While value investors would never describe 28.2-31.8x Trailing EV/Sales as reasonable, compared to where most SaaS IPO EV/Sales multiples ended on...
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