IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/fineos" target="_blank" data-smartkarma-citation="entities:28218:1" rel="noopener">FINEOS (FCL AU)</a> is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 16 August on a deferred settlement basis. </p><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/fineos-ipo-initiation-claiming-the-cloud" target="_blank" rel="noopener">our initiation note</a>, we stated that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story. However, from a valuation perspective, we believe that the IPO is fully priced and would use any post-IPO weakness to build a position. </p></div>

FINEOS (FCL AU) is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 16 August on a deferred settlement basis. In our initiation note, we stated that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story. However, from a valuation perspective, we believe that the IPO is fully priced and would use any post-IPO weakness to build a position. 

FINEOS IPO: Full Valuation Entails Patience

<p><a href="https://www.smartkarma.com/entities/fineos" target="_blank" data-smartkarma-citation="entities:28218:1" rel="noopener">FINEOS (FCL AU)</a> is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 20 August. The IPO priced at the top-end of the A$2.00-2.50 per CDI price range, implying a fully diluted market cap of A$712.3 million.</p><div class="content-highlight"><p>We believe that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story (we will provide a view on the valuation in our follow-up research note).</p></div>

FINEOS (FCL AU) is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 20 August. The IPO priced at the top-end of the A$2.00-2.50 per CDI price range, implying a fully diluted market cap of A$712.3 million.We believe that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story (we will provide a view on the valuation in our follow-up research note).

FINEOS IPO Initiation: Claiming the Cloud

United States

Majesco provides software solutions for the insurance industry. The Company offers software and information technology services in core insurance areas, including policy administration, product modeling, new business processing, billing, and claims. Majesco serves customers worldwide.

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Majesco (MJCO US)

FINEOS IPO: Full Valuation Entails Patience

FINEOS (FCL AU) is a leading vendor of core software to the life, accident & health (LA&H) insurance industry. FINEOS will commence trading...

Arun George

FINEOS IPO Initiation: Claiming the Cloud

FINEOS (FCL AU) is a leading vendor of core software to the life, accident & health (LA&H) insurance industry. FINEOS will commence trading...

Arun George

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52-week Range

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