In today’s briefing:
- SOCAR IPO: Another Absurd Valuation
- ECM Weekly (26th June 2022) – Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar
SOCAR IPO: Another Absurd Valuation
- This IPO’s valuation is the trickiest among Korea’s recent IPOs. Whether all of these ten valuation peers have high enough business relevance to SOCAR is highly doubtful.
- Whether SOCAR can evolve from a simple car sharing (or rental) operator to an in-vehicle software platform provider actually determines the success or failure of this IPO.
- However, the IPO prospectus available to us lacks the evidence to favorably judge SOCAR’s growth potential. So, I will consider taking this IPO as conservatively as possible.
ECM Weekly (26th June 2022) – Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- A few IPOs are lined up in Thailand and South Korea, in addition a number of deals are gearing up for launch.
- There were no major placements last week. Although there are a few large lockup releases soon.
Before it’s here, it’s on Smartkarma
