In today’s briefing:
- Weekly Deals Digest (24 Jul): Thai Life, Bharat FIH, Link, DTAC/True, Pendal, Tassal, Ramsay, AOF
- Thai Life Insurance IPO: Trading Debut
Weekly Deals Digest (24 Jul): Thai Life, Bharat FIH, Link, DTAC/True, Pendal, Tassal, Ramsay, AOF
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- On the ECM front, Thai Life Insurance (TLI TB) will start trading on 25 July, Bharat FIH (BFIH IN) aims to launch an August IPO to raise US$625 million.
- Event-Driven developments at DTAC/True, Link Administration (LNK AU), Pendal Group (PDL AU), Tassal (TGR AU), Suncorp (SUN AU), Hwa Hong Corp (HWAH SP), Excelpoint Technology (EXLP SP), Cocoaland.
Thai Life Insurance IPO: Trading Debut
- Thai Life Insurance (TLI TB) will start trading on 25 July. Thai Life raised US$975 million at the IPO price of THB16.00 per share.
- We previously discussed the IPO in Thai Life Insurance IPO: The Bull Case, Thai Life Insurance IPO: The Bear Case and Thai Life Insurance IPO: Valuation Insights.
- The average of our DDM and relative valuation methodology suggests a price of THB15.43 per share. Remain on the sidelines as the IPO price is fair.
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