Daily BriefsIPOs and Placements

Equity Capital Markets: JD Logistics, Weibo Corp, Biel Crystal and more

In today’s briefing:

  • JD Logistics (京东物流) Lock-Up Expiry – Cornerstone Sitting on Losses, Pre-IPO Investors Still Up
  • Weibo Secondary Listing – Needs to Come at a Discount
  • Biel Crystal IPO Initiation: Through the Looking Glass

JD Logistics (京东物流) Lock-Up Expiry – Cornerstone Sitting on Losses, Pre-IPO Investors Still Up

By Zhen Zhou, Toh

  • JD Logistics (2618 HK) (JDL) was listed on the Hong Kong Exchange on 28th May, 2021. Its IPO lock-up will expire on 28th November, 2021.
  • JD Logistics (JDL) was the leading supply chain solutions and logistics services provider in China in terms of revenue in 2018 and 2019.
  • Cornerstone investors are sitting on about 26% loss whereas pre-IPO investors are still mostly up 53% on their investments but have held since 2018.

Weibo Secondary Listing – Needs to Come at a Discount

By Sumeet Singh

  • Weibo plans to raise around US$500-700m in its secondary listing in Hong Kong. 
  • The company won listing approval and filed its PHIP on last week and will look to launch its secondary offering soon.
  • In this note, we’ll take a look at the deal and talk about the impact of the raising.

Biel Crystal IPO Initiation: Through the Looking Glass

By Arun George

  • Biel Crystal (0924581D HK) is one of the world’s largest suppliers of cover glass for smartphones. 
  • Biel has won approval for an HKEx IPO to raise $1-2 billion, according to press reports. 
  • Biel’s fundamentals are attractive with solid top-line growth, operating leverage and cash generation. 

Before it’s here, it’s on Smartkarma