Horizon Construction Dev IPO Trading - Subscription Rates Still Weak, Despite Cornerstone Support
Horizon Construction Development (1887128D HK) raised around US$210m in its Hong Kong IPO. In this note, we will talk about the trading dynamics...
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Horizon Construction Development IPO: The Bear Case
The key elements of the bear case rest on core business margin decline, unexplained headcount reduction, cash burn, long receivable days and...
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Horizon Construction Development IPO: The Bull Case
The key elements of the bull case rest on market share gains, an anticipated post-COVID recovery boost, high revenue visibility, stable operating...
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