In today’s briefing:
- LG CNS IPO: Trading Debut
- LG CNS IPO Trading – Demand Aided by Domestics, Limited Lockup Undertaking
- Kaynes Technology QIP Early Look – QIP to Fund Global Expansion Plans
- Sionna Therapeutics, Inc. (SION): Phase I Cystic Fibrosis Biotech Sets Terms for IPO
LG CNS IPO: Trading Debut
- LG CNS (LGCNSZ KS) priced its IPO at KRW61,900 per share to raise gross proceeds of US$820 million. The shares will start trading on 5 February.
- We previously discussed the IPO in LG CNS IPO: The Bull Case, LG CNS IPO: The Bear Case and LG CNS IPO: Valuation Insights.
- Since the prospectus’s release, the peers have marginally re-rated. The valuation remains undemanding at the IPO price, and bullish grey market prices suggest a strong debut.
LG CNS IPO Trading – Demand Aided by Domestics, Limited Lockup Undertaking
- LG CNS (LGCNSZ KS) raised around US$825m in its Korea IPO. LG CNS is a South Korean information technology company.
- LG CNS is a South Korean information technology company. The firm primarily provides comprehensive digital transformation services and solutions backed AI, big data, and cloud.
- In this note, we will talk about the demand for the deal and other trading dynamics.
Kaynes Technology QIP Early Look – QIP to Fund Global Expansion Plans
- Kaynes Technology India (KAYNES IN) is looking to raise around US$185m in its upcoming qualified institutional placement (QIP).
- In an announcement released on Jan 22, 2025, Kaynes had mentioned its board’s approval to raise up to INR16bn via a QIP. Since then, the shares have corrected 8.6%.
- The deal would not be a large one to digest at 4.3 days of three month ADV. The company’s last fundraise did well.
Sionna Therapeutics, Inc. (SION): Phase I Cystic Fibrosis Biotech Sets Terms for IPO
- Biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis filed for IPO.
- The terms value the company between $652m-$734m with the $16-$18 price range.
- The company’s existing shareholders include some of the best pre-IPO names in the biotech sphere.
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