In today’s briefing:
- Auntea Jenny (Shanghai) Industrial Pre-IPO – The Positives – Has Benefited from a Growing Network
- Angel Robotics: IPO Bookbuilding Results Analysis
- Pre-IPO Qyuns Therapeutics (PHIP Updates) – Some Points Worth the Attention
- Auntea Jenny (Shanghai) Industrial Pre-IPO – The Negatives – Improving Margins Playing Catch Up
- Belle Fashion Pre-IPO – Refiling Updates
Auntea Jenny (Shanghai) Industrial Pre-IPO – The Positives – Has Benefited from a Growing Network
- Auntea Jenny (Shanghai) Industrial (AJI HK) is looking to raise around US$300m in its upcoming Hong Kong IPO.
- Auntea Jenny (Shanghai) Industrial (Auntea) is a freshly-made beverage producer.
- In this note, we will talk about the positive aspects of the deal.
Angel Robotics: IPO Bookbuilding Results Analysis
- Angel Robotics reported exceptional IPO bookbuilding results. Angel Robotics’ IPO price has been determined at 20,000 won, which is 33% higher than the high end of the IPO price range.
- A total of 2,067 institutional investors participated in this IPO book building. The demand ratio was 1,157 to 1. Angel Robotics will start trading on 26 March 2024.
- We remain positive on Angel Robotics. There is likely to be a sharp overshooting of its share price relative to its intrinsic value on the first day of trading.
Pre-IPO Qyuns Therapeutics (PHIP Updates) – Some Points Worth the Attention
- The biggest concern here is the uncertain commercialization outlook of Qyuns’s pipeline, mainly due to both industry factors in the field of autoimmune and allergic diseases and Qyuns’s own problems.
- Qyuns is overvalued. There’re rumors that Qyuns was “not popular” in primary market when fundraising, perhaps due to Dr. Yu Guoliang’s past unsuccessful experience which made investors suffered losses before.
- By reducing the size of IPO to maintain high share price, this IPO may “look successful”.Investors can seize this opportunity to take profits in time, but long-term hold isn’t recommended.
Auntea Jenny (Shanghai) Industrial Pre-IPO – The Negatives – Improving Margins Playing Catch Up
- Auntea Jenny (Shanghai) Industrial (AJI HK) is looking to raise around US$300m in its upcoming Hong Kong IPO.
- Auntea Jenny (Shanghai) Industrial (Auntea) is a freshly-made beverage producer.
- In this note, we will talk about the not so positive aspects of the deal.
Belle Fashion Pre-IPO – Refiling Updates
- Belle Fashion (BF) aims to raise up to US$1bn in its Hong Kong listing. The company recently refiled its application proof after a gap of two years.
- As per F&S, it was the largest player in China’s fashion footwear market with a 12.3% market share, based on 2022 retail sales.
- We have looked at the company’s past performance based on its earlier filings in 2022. In this note, we talk about the updates from its recent filings.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
