In today’s briefing:
- Excellent Demand for LG Electronics India IPO
- Canara HSBC Life Insurance IPO – Improving AUM but Dependent on Bancassurance Channels
- ImmuneOnco(1541 HK): No Near Term Triggers, Commercialization Still Far Away, Placement Unattractive
Excellent Demand for LG Electronics India IPO
- There has an excellent demand for the LG Electronics India (LGEI) IPO among the institutional investors which sets the stage for a positive rally once it starts trading.
- LGEI raised 4.43 trillion rupees in subscription funds during the general subscription period from 7 to 9 October. This amount is approximately 40 times the initial public offering (IPO) target.
- Our base case valuation is target price of 1,514 INR which is 33% higher than the high end of the IPO price range.
Canara HSBC Life Insurance IPO – Improving AUM but Dependent on Bancassurance Channels
- Canara HSBC Life Insurance (2908709Z IJ) (CHLI) is looking to raise US$284m from its upcoming India IPO, which is an entire secondary share sale.
- CHLI is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group.
- It offers a comprehensive range of life insurance products tailored for both individual and group (i.e., companies, businesses or organizations) customers.
ImmuneOnco(1541 HK): No Near Term Triggers, Commercialization Still Far Away, Placement Unattractive
- ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK) announced the placement of 24.2M shares for subscription at HK$14.5 per share.
- The company intends to use most of the net proceeds for further research and development of drug candidates IMM01, IMM2510 and IMM27M.
- The current market price of the stock makes the placement offer unattractive. Concerns remain with no drugs commercialized yet and the only possible commercialization expected to happen not before 2027.
💡 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
