In today’s briefing:
- Mapletree Industrial Trust Placement – Data Centre Exposure Still on the Rise
- Growatt Technology IPO: Valuation Updated Look
- Almac IPO Preview
Mapletree Industrial Trust Placement – Data Centre Exposure Still on the Rise
- Mapletree Industrial Trust (MINT SP) is looking to raise at least S$202m (US$150m) in its primary placement.
- The proceeds will be used to partially fund its acquisition of a data centre asset in downtown Osaka, Japan, while the remainder will be funded by debt.
- In this note, we’ll run the deal through our ECM framework and comment on deal dynamics.
Growatt Technology IPO: Valuation Updated Look
- Growatt Technology (1833969D CH), a leading PV inverters manufacturer, is pre-marketing a US$400 million HKEx IPO, according to press reports.
- We previously discussed the IPO in Growatt Technology IPO: The Investment Case, Growatt Technology IPO: Growing Watts, Growatt Technology IPO: The Bear Case, Growatt Technology IPO: The Bull Case.
- In this note, we outline our updated forecasts and present our updated look at Growatt’s potential valuation range.
Almac IPO Preview
- Almac is getting ready to complete its IPO on KOSDAQ in June. Almac is one of the leading aluminum parts company for the electric vehicles.
- The company ranks first in domestic market share in the aluminum extruded module cases that protect batteries from external shocks.
- The company is offering 1 million new shares in this IPO. The IPO price range is from 40,000 won to 45,000 won.
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