In today’s briefing:
- Anjoy Food Group IPO: Buy It Now Frozen, Savor, and Anjoy It Later
- Unisound AI IPO (9678.HK): Pricing and Hong Kong Debut, Low Float and High Valuation
Anjoy Food Group IPO: Buy It Now Frozen, Savor, and Anjoy It Later
- Anjoy Food Group launched its Hong Kong IPO aiming to raise up to HK$2,639 million (US$336 million). The company plans to sell 39.9 million shares at HK$66 per share.
- Anjoy is the largest quick-frozen food company in China, with a market share of 6.6% and 39 signature products, each generating revenue exceeding RMB 100 million.
- Pricing pressure due to intense market competition is the concern that seems will persist in the near term. However, the company has long-term growth opportunities.
Unisound AI IPO (9678.HK): Pricing and Hong Kong Debut, Low Float and High Valuation
- Unisound AI Technology, Chinese AI startup with focus on intelligent voice and speech processing technologies, priced its IPO at HK$205.00 per share, top of a range.
- Beijing based AI company raised ~HK$320M in this offering, of which cornerstone investors acquired ~HK$95M worth of shares or ~30% of the total offer H shares.
- The claw-back was triggered due to strong retail demand. The HK offering was ~92 times oversubscribed, and the allocation was increased to 624,400 H shares.
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