Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Shanghai-Based Bloks Group, a leader of assembly character toys in China, has announced the initial price range for its IPO in Hong Kong.</li>
<li>The offering is expected to be between HK$55.65 and HK$60.35, implying a market cap of ~HK$14B or ~$1.8B at the midpoint of the price range. </li>
<li>Assuming IPO offer price of HK$58.00, UBS AM Singapore, Greenwoods AM and Fullgoal Investors have agreed to invest ~HK$388M or ~$50M in the offering.</li>
</ul>


Shanghai-Based Bloks Group, a leader of assembly character toys in China, has announced the initial price range for its IPO in Hong Kong.
The offering is expected to be between HK$55.65 and HK$60.35, implying a market cap of ~HK$14B or ~$1.8B at the midpoint of the price range. 
Assuming IPO offer price of HK$58.00, UBS AM Singapore, Greenwoods AM and Fullgoal Investors have agreed to invest ~HK$388M or ~$50M in the offering.


Bloks Group IPO (0325.HK): Global Offering, The Initial Price Range Is Seen As Attractively Valued

<ul>
<li>Bloks Group, a fast-growing toy company in China, will disclose the proposed size and the initial price range for the share sale soon.</li>
<li>In my insight, I discuss IPO valuation, update relative valuation table and set a target valuation for Bloks Group ahead of an IPO.</li>
<li>Bloks Group enjoys higher relative growth profile and superior gross profit margins. The company has over RMB600M in cash and equivalents and no debt.  </li>
</ul>


Bloks Group, a fast-growing toy company in China, will disclose the proposed size and the initial price range for the share sale soon.
In my insight, I discuss IPO valuation, update relative valuation table and set a target valuation for Bloks Group ahead of an IPO.
Bloks Group enjoys higher relative growth profile and superior gross profit margins. The company has over RMB600M in cash and equivalents and no debt.  


Bloks Group IPO Valuation Analysis: Is The Offering Worth Buying?

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Mattel, Inc., in its Third Quarter 2024 Earnings, presented a mixed financial picture characterized by a decline in revenue but enhancing profitability and cash flow positions.</li><li>For the third quarter, Mattel experienced a decline in net sales by 4% as reported, and 3% in constant currency, primarily plagued by tough prior year comparisons due to the success of the Barbie movie.</li><li>This decline in revenue was anticipated, and from a strategic perspective, focus was placed on other financial metrics, notably the strengthened gross margins and profitability.</li></ul>

Mattel, Inc., in its Third Quarter 2024 Earnings, presented a mixed financial picture characterized by a decline in revenue but enhancing profitability and cash flow positions.For the third quarter, Mattel experienced a decline in net sales by 4% as reported, and 3% in constant currency, primarily plagued by tough prior year comparisons due to the success of the Barbie movie.This decline in revenue was anticipated, and from a strategic perspective, focus was placed on other financial metrics, notably the strengthened gross margins and profitability.

Mattel Inc.: Strengthening of Digital and Entertainment Offerings Driving Our Optimism! - Major Drivers

<ul><li>Mattel's second quarter of 2024 presented a mixed set of results, reflecting both the challenges and strategic progress within the toy industry.</li><li>In terms of financial performance, net sales slightly declined by 1% but were stable on a constant currency basis.</li><li>This relatively flat sales trajectory indicates a degree of resilience amidst broader economic fluctuations, with the company managing to maintain its sales levels year-over-year.</li></ul>

Mattel's second quarter of 2024 presented a mixed set of results, reflecting both the challenges and strategic progress within the toy industry.In terms of financial performance, net sales slightly declined by 1% but were stable on a constant currency basis.This relatively flat sales trajectory indicates a degree of resilience amidst broader economic fluctuations, with the company managing to maintain its sales levels year-over-year.

Mattel Inc.: Will Its Strategic Expansion Into Entertainment & Digital Content Yield Dividends? - Major Drivers

<ul><li>Mattel, Inc. experienced a significant boost in its stock price after news surfaced that the private equity firm L Catterton had made a takeover bid for the toy manufacturing giant.</li><li>This development has attracted the attention of investors and fueled discussions about potential changes in the toy industry's landscape, especially in relation to its long-time rival, Hasbro.</li><li>Let's delve into Mattel's business operations and explore the potential valuation it could achieve through this deal.</li></ul>

Mattel, Inc. experienced a significant boost in its stock price after news surfaced that the private equity firm L Catterton had made a takeover bid for the toy manufacturing giant.This development has attracted the attention of investors and fueled discussions about potential changes in the toy industry's landscape, especially in relation to its long-time rival, Hasbro.Let's delve into Mattel's business operations and explore the potential valuation it could achieve through this deal.

Mattel Inc's Possible Acquisition By LVMH Backed L Catterton - What Is The Expected Valuation & The Deal Rationale?

United States

Mattel, Inc. designs, manufactures, and markets a broad variety of children's toy products on a worldwide basis.  The Company sells its products to retailers and directly to consumers.  Mattel's products include branded fashion dolls, infant and preschool products, toy cars, and electrical vehicles, among others.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Mattel Inc (MAT US)

Bloks Group IPO (0325.HK): Global Offering, The Initial Price Range Is Seen As Attractively Valued

Bloks Group has announced the initial price range for its IPO. Given strong demand for upcoming offering and revenue hyper-growth, the toy maker is...

Andrei Zakharov

Bloks Group IPO Valuation Analysis: Is The Offering Worth Buying?

Bloks Group plans to raise up to $300M in Hong Kong IPO. Goldman Sachs (Asia) and Huatai International are leading the offering. In my insight, I...

Andrei Zakharov

Mattel Inc.: Strengthening of Digital and Entertainment Offerings Driving Our Optimism! - Major Drivers

Mattel, Inc., in its Third Quarter 2024 Earnings, presented a mixed financial picture characterized by a decline in revenue but enhancing...

Baptista Research

Mattel Inc.: Will Its Strategic Expansion Into Entertainment & Digital Content Yield Dividends? - Major Drivers

Mattel's second quarter of 2024 presented a mixed set of results, reflecting both the challenges and strategic progress within the toy...

Baptista Research

Mattel Inc's Possible Acquisition By LVMH Backed L Catterton - What Is The Expected Valuation & The Deal Rationale?

Mattel, Inc. experienced a significant boost in its stock price after news surfaced that the private equity firm L Catterton had made a takeover...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)