In today’s briefing:
- EVOC (2308 HK): 19 October H-Class Meeting. IFA Says Fair & Reasonable
- Lionheart Studio IPO Valuation Analysis
- Some new stocks
EVOC (2308 HK): 19 October H-Class Meeting. IFA Says Fair & Reasonable
- The Composite Document for electronics play and property developer EVOC Intelligent Technology Company (2308 HK), has been dispatched. The EM and H-Class meeting will be held on the 19 October.
- The Offer Price is HK$1.75/share. It will not be increased. No further dividends will be added.
- This is done. Trading at a gross/annualised spread of 2.9%/34%.
Lionheart Studio IPO Valuation Analysis
- Our base case valuation of Lionheart Studio is a target price of 19,362 won per share, which is 46% lower than the low end of the IPO price range.
- Our IPO valuation assumes a 7.2x EV/EBITDA (comps’ average) using 2023 estimated EBITDA of 145 billion won for the company.
- All in all, we believe there is a strong probability of Lionheart Studio being forced to lower its IPO price range in order to attract more investors.
Some new stocks
- First one is Vontier, its main business is a duopoly in gas station equipment and software.
- Repair tools for ICE vehicles. Software and hardware for car washes, and some smaller miscellaneous businesses.
- Some of which they will divest for probably several $100 million in proceeds. And they have a piece in EV charging infrastructure as well.
💡 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