In today’s briefing:
- Weekly Deals Digest (26 Jun) – ThaiBev’s BeerCo, Thai Life, Tianqi Lithium, Giordano, DTAC/True
- Thai Life Insurance IPO: Valuation Insights
Weekly Deals Digest (26 Jun) – ThaiBev’s BeerCo, Thai Life, Tianqi Lithium, Giordano, DTAC/True
- 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 and Chinese ADRs.
- ECM – Thai Life Insurance (TLI TB) is set to launch a US$1bn IPO; BeerCo and Sichuan Tianqi Lithium Industries, Inc (002466 CH) are premarketing US$0.8-1.0bn and US$1.0-1.5bn IPOs, respectively.
- Event-Driven developments at Giordano International (709 HK), Link Net (LINK IJ), Total Access Communication (DTAC TB)/True Corp Pcl (TRUE TB) merger, Infomedia Ltd (IFM AU), Resapp Health (RAP AU).
Thai Life Insurance IPO: Valuation Insights
- Thai Life Insurance (TLI TB) will open its book for a US$1 billion raise from 29 June to 14 July. The IPO price has been set at THB16.00 per share.
- We previously discussed the IPO in Thai Life Insurance IPO: The Bull Case and Thai Life Insurance IPO: The Bear Case.
- Peer analysis suggests that Thai Life should trade at a modest premium to Bangkok Life but at a material discount to AIA. Consequently, the IPO valuation is full.
Before it’s here, it’s on Smartkarma
