Daily BriefsECM

Daily Brief ECM: Lygend Resources & Technology IPO: Trading Debut and more

In today’s briefing:

  • Lygend Resources & Technology IPO: Trading Debut
  • Sunshine Insurance Group IPO: Valuation Insights
  • Lava International IPO: Forensic Analysis
  • Esco Lifesciences Pre-IPO Tearsheet
  • Lygend Resources & Technology IPO Trading – Tepid Subscription but Potential Upside Remains
  • Marketingforce Management Pre-IPO Tearsheet
  • Weilong Delicious Global Pre-IPO – Updated Peer Comp and Valuation

Lygend Resources & Technology IPO: Trading Debut

By Arun George


Sunshine Insurance Group IPO: Valuation Insights

By Arun George


Lava International IPO: Forensic Analysis

By Nitin Mangal

  • Lava International (9263793Z IN)  is one of the leading end-to-end focused mobile handset and mobile handset Solutions Company based in India, with operations in a number of countries.
  • Major business risk arises from external environment, as Lava is one of the prominent leaders in feature phone segment, where the market is dying. 
  • Key forensic takeaways pertain to ECL provisioning and some absurd trend in line items. There are several discomforts on the governance end as well which must not be ignored.

Esco Lifesciences Pre-IPO Tearsheet

By Ethan Aw

  • Esco Lifesciences Group (1891571D SP) is looking to raise about US$300m in its upcoming HK IPO. The deal will be run by JP Morgan, BofA and Jefferies.
  • Esco Lifesciences (EL) is a global provider of life sciences, pharmaceutical and bioprocessing tools, with an aim to develop, discover and commercialize technology-driven life sciences, pharmaceutical and bioprocessing tools. 
  • According to CIC, it is the second largest supplier of biosafety cabinets and the third largest supplier of time-lapse incubators globally as measured by revenue in 2021.

Lygend Resources & Technology IPO Trading – Tepid Subscription but Potential Upside Remains

By Clarence Chu

  • Lygend Resources & Technology (2245 HK) raised US$470m in its Hong Kong IPO.
  • Lygend Resources & Technology (Lygend) is a nickel trading and production firm with a portfolio covering multiple areas across the nickel industry value chain.
  • In this note we will talk about the trading dynamics.

Marketingforce Management Pre-IPO Tearsheet

By Ethan Aw

  • Marketingforce Management (MFM HK) is looking to raise about US$100m in its upcoming HK IPO. The deal will be run by CICC and CCB International. 
  • Marketingforce Management (MFM) is a domestic marketing and sales SaaS solution provider in China and considered the largest in terms of revenue in 2021, according to Frost & Sullivan. 
  • Through its Marketingforce platform, MFM delivers integrated cloud-based solutions that cover the entire marketing and sales management process of enterprises, from content and experience to strategy and management, amongst others. 

Weilong Delicious Global Pre-IPO – Updated Peer Comp and Valuation

By Sumeet Singh

  • Weilong Delicious Global (WDG HK), a spicy snack food company in China, aims to raise around US$200m in its Hong Kong IPO.
  • According to F&S, WDG ranked first among spicy snack food enterprises in China, with a market share of 6.2%, and in the seasoned flour product and spicy vegetable snacks categories.
  • In this note, we provide an update to our earlier peer comparison and valuations.

💡 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