HutchMed Secondary Listing: HK-ADS Premium/​​​(Discount) Views
HutchMed has launched a $603 million secondary listing on HKEx. In this note, we will look at HutchMed’s potential HK-ADS premium/(discount).
410 Views
Initial Thoughts on the Krafton IPO Valuation
Our base case valuation of Krafton is an implied market cap of 24.1 trillion won or 465,055 won per share. Given the lack of upside relative to the...
543 Views
Krafton IPO - 9 Major Risks
We discuss the 9 major risks (excluding valuation issues) for Krafton. Overall, we believe these significant risk factors could result in much...
454 Views
AiHuiShou IPO: Peer Comparison and Valuation
We believe there will be limited upside to the company’s indicative IPO price range and would be inclined to buy only if the company sets the final...
387 Views
China ADRs - A New Act Aims to Put an End to China ADR IPOs
On 27th May 2021, U.S. Senators Marco Rubio and Bob Casey introduced the No IPOs for Unaccountable Actors Act, which aims to prohibit IPO on U.S....
451 Views