In today’s briefing:
- Japan Post Bank (7182 JP): The Current Playbook
- TXR Robotics: IPO Book Building Results Analysis
- CoreWeave Inc. IPO (CRWV): Peeking at the Prospectus of Cloud Platform Managing AI Infrastructure
- Chery Auto Pre-IPO Tearsheet
Japan Post Bank (7182 JP): The Current Playbook
- Since the offer announcement, Japan Post Bank (7182 JP)/JPB’s shares have declined by 2.5%. On 3 March, JPB completed the ToSTNeT-3 buyback by acquiring 13.3 million shares for JPY20 billion.
- To understand JPB’s trading pattern, it is instructive to examine its 2023 offering, Japan Post Insurance (7181 JP)/JPI’s 2019 offering, and Japan Post Holdings (6178 JP)/ JPH’s 2021 offering.
- JPB’s shares follow the trading pattern playbook of its 2023 and JPH’s 2021 offerings, in which investors buying the offer were rewarded with positive returns at the payment date.
TXR Robotics: IPO Book Building Results Analysis
- The IPO price of TXR Robotics has been finalized at 13,500 won per share, which is at the high end of the IPO price range.
- The demand ratio among institutional investors was 862.6 to 1.
- According to our valuation analysis, it suggests an implied price of 19,673 won per share, which is 46% higher than the IPO price (13,500 won).
CoreWeave Inc. IPO (CRWV): Peeking at the Prospectus of Cloud Platform Managing AI Infrastructure
- One of the most anticipated IPOs of 2025 has officially filed its S-1 — CoreWeave (CRWV US) .
- Their revenue was $16 million, $229 million, and $1.9 billion for the years ended December 31, 2022, 2023, and 2024, respectively, representing year-over-year growth of 1,346% and 737%, respectively.
- According to sources, the debut on CoreWeave Inc. is tentatively scheduled for the last week of March.
Chery Auto Pre-IPO Tearsheet
- Chery Automobile Co. Ltd. (CACTZ CH) is looking to raise about US$1bn in its upcoming Hong Kong IPO. The deal will be run by CICC, Huatai and GF Securities.
- Chery Auto is a Chinese passenger vehicle company which designs, develops, manufactures and sells passenger vehicles, including internal combustion engine vehicles and new energy vehicles, both domestically and overseas.
- According to F&S, it was the second largest Chinese domestic brand passenger vehicle company, and the 11th largest globally, in terms of global sales volume of passenger vehicles in 9M24.
💡 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
