In today’s briefing:
- Guming Holdings (Good Me) IPO: The Bear Case
- TXR Robotics IPO Preview
- Dr Agarwal’s Healthcare Pre-IPO – Strong Revenue Growth Led by Expanding Network of Facilities
- Sichuan Biokin (百利天恒) H-Listing: Impressive Clinical Results so Far
- Continuum Green Energy Pre-IPO: ESG Friendly but Burning Prodigious Amounts of Cash
Guming Holdings (Good Me) IPO: The Bear Case
- Guming Holdings (GUM HK) (Good me), a freshly-made tea store brand, is pre-marketing an HKEx IPO to raise US$300 million, according to press reports.
- In Guming Holdings (Good Me) IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
- The bear case rests on under-pressure store KPIs, unsustainable historical growth rates, declining contract liabilities, margin pressure due to competition and a sizeable pre-IPO dividend.
TXR Robotics IPO Preview
- TXR Robotics is getting ready to complete its IPO in KOSDAQ in March 2025. TXR Robotics is a robot and logistics automation company in Korea.
- The company plans to offer 3.075 million shares in the IPO. The IPO price range is from 11,500 won to 13,500 won.
- The bankers used PSR method to value TXR Robotics. The bankers used five companies including Yuil Robotics, Robotis, Neuromeka Co, Kornic Automation, and Hyundai Movex as comps.
Dr Agarwal’s Healthcare Pre-IPO – Strong Revenue Growth Led by Expanding Network of Facilities
- Dr Agarwal’s Health Care Ltd (8140044Z IN) is looking to raise about US$480m in its upcoming India IPO.
- Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
- In this note, we talk about the company’s historical performance.
Sichuan Biokin (百利天恒) H-Listing: Impressive Clinical Results so Far
- Sichuan Biokin is looking at a A-H listing and is looking to raise up to USD 500 million.
- In this note we look at the company’s fundamentals briefly including its heavyweight product BL-B01D1. We also examine its deal with BMS.
- The stock has performed well on Shanghai STAR board since its A share listing.
Continuum Green Energy Pre-IPO: ESG Friendly but Burning Prodigious Amounts of Cash
- Continuum Green Energy Ltd (1580973D IN) is looking to raise about US$430m in its upcoming India IPO.
- Continuum Green Energy (CGE) is an independent power producer (IPP) with over 14 years of experience in identifying, developing, constructing and operating renewable energy projects in India.
- In this note, we look at the firm’s past performance.
💡 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
