In today’s briefing:
- LG Energy Solution IPO: Record Retail Demand Amount
- Aquila Acquisition Corporation: Hong Kong’s CMB-Backed SPAC
- Delhivery IPO Initiation: Can It Deliver?
- Kakao Bank Six-Month Lock-Up – Over US$2.5bn Stock Release Will Only Add to the Recent Rout
LG Energy Solution IPO: Record Retail Demand Amount
- LG Energy Solution completed its two days retail subscription demand on 18-19 January.
- LG Energy Solution raised 114 trillion won in IPO subscription margin and achieved a new record in the Korean IPO market. The retail demand ratio was 69.3 to 1.
- In this insight, we provide a detailed retail demand analysis of the LG Energy Solution IPO, which is getting ready to start trading on 27 January.
Aquila Acquisition Corporation: Hong Kong’s CMB-Backed SPAC
- Aquila Acquisition Corporation (AAC HK), a SPAC backed by China Merchants Bank, has applied for listing in Hong Kong.
- Aquila is the first SPAC company to seek listing since new rules allowing such listings came into effect on the 1 January 2022.
- Aquila is targeting technology-enabled companies in “new economy” sectors (such as green energy, life sciences, advanced technology and manufacturing) in Asia, with a focus on China.
Delhivery IPO Initiation: Can It Deliver?
- Delhivery (1058656D IN) is the largest and fastest-growing 3PL express parcel delivery player in India by revenue in FY21. It has won SEBI approval to raise up to $1 billion.
- The fundamentals are mixed as it has been unable to leverage its leading position and strong growth to deliver profits or cash generation.
- Based on the draft red herring prospectus, we are cautious about this potential IPO as the negatives outweigh the positives.
Kakao Bank Six-Month Lock-Up – Over US$2.5bn Stock Release Will Only Add to the Recent Rout
- Kakao Bank’s six month IPO lock-up will end on 6th Feb 2022.
- It will result in freeing up another US$2.5bn+ worth of shares held by a number of pre-IPO and local IPO investors.
- In this note, we will talk about the upcoming lock-up expiry.
Before it’s here, it’s on Smartkarma
