In today’s briefing:
- Onewo IPO: Valuation Insights
- Imugene (IMU AU) Placement: Extended Runway for Clinical Programs Pipeline at Modest Equity Dilution
Onewo IPO: Valuation Insights
- Onewo Space-Tech (ONEWO HK) has launched its HKEx listing at HK$47.1-52.7 per share to raise up to US$0.8 billion. Books are open from 19 to 22 September.
- We previously discussed the IPO in Onewo IPO: The Bull Case, Onewo IPO: The Bear Case and Onewo IPO: Trade-Offs Vs Peers.
- Our valuation analysis suggests that the IPO price range is attractive compared to peers with financially sound parentco backgrounds. We would participate.
Imugene (IMU AU) Placement: Extended Runway for Clinical Programs Pipeline at Modest Equity Dilution
- Imugene Ltd (IMU AU) announced A$80 million institutional placement at A$0.20/ share, representing 11.1% discount to last close on September 9, 2022. Shares issued represent just 6.8% of existing shares.
- The company will have a pro-forma cash position of ~A$175 million on completion of the Placement, funding the company’s broad clinical pipeline of three platform technologies.
- For every two new shares subscribed for under the placement, Imugene intends to issue one free new option. The options issued will provide A$66 million in funding, if fully exercised.
💡 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
