In today’s briefing:
- MIXUE IPO – Decent Cornerstone, past Sentiment Overhang
- MIXUE Group (2097 HK) IPO: The Bull Case
- Mixue Group IPO: Value For Money Pricing and Attractive Valuations
- Genuine Biotech (真实生物) Pre-IPO Tearsheet
- Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
MIXUE IPO – Decent Cornerstone, past Sentiment Overhang
- Mixue Group is now looking to raise around US$450m in its upcoming Hong Kong IPO.
- MIXUE Group (MIXUE) is a freshly-made drinks company providing affordable products to consumers, including freshly-made fruit drinks, tea, ice cream and coffee, typically priced at around one USD per item.
- We have covered various aspects of the deal in our previous notes. In this note, we will talk about the IPO pricing.
MIXUE Group (2097 HK) IPO: The Bull Case
- Mixue Group (MIX HK), a world-leading manufacturer of freshly made drinks, is seeking to raise US$445 million through an HKEx IPO.
- According to CIC, Mixue is the largest freshly made drinks company in China and worldwide, according to the number of stores as of September 30, 2024.
- The bull case rests on a strong brand, leading market share, peer-leading revenue growth, top-tier profitability and cash generation.
Mixue Group IPO: Value For Money Pricing and Attractive Valuations
- Mixue Group (MIX HK) is offering 17.06 million shares at HK$202.50 apiece to raise HK$3.45 billion ($444 million) in its initial public offering in Hong Kong
- Mixue’s IPO was launched today morning and will close on Wednesday 26th February. The stock is due to list on HK bourses on 3rd March.
- Mixue, China’s value-for-money freshly made beverage leader, has priced its IPO shares attractively given its robust growth track record and long term competitive strengths.
Genuine Biotech (真实生物) Pre-IPO Tearsheet
- Genuine Biotech is looking to raise at least US$100 million via a Hong Kong listing.
- Genuine Biotech has commercialized product and is expanding indication of its core product from HIV to cancer.
- The company’s founder has experience of R&D in the relevant area in leading NMCs.
Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
- Trualt Bioenergy Ltd (2350587D IN) (TBL) is planning to raise about US$120m through its upcoming India IPO.
- TBL is one of India’s largest biofuels producers. As of FY24, TBL’s business verticals were Ethanol, ENA (Extra Neutral Alcohol), CBG (Compressed Biogas), FOM (Fermented Organic Manure), CO2 (Carbon Dioxide).
- As per the CRISIL Report, TBL held the distinction of being the largest ethanol producer in India based on installed capacity, as of Mar 24.
💡 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
