In today’s briefing:
- Weekly Deals Digest (03 Jul) – Tianqi Lithium, Thai Life, Li Auto, Link Admin, Tassal, DTAC/True
- CTG Duty Free (601888 CH) Pre-IPO: Revival of H-Share IPO
Weekly Deals Digest (03 Jul) – Tianqi Lithium, Thai Life, Li Auto, Link Admin, Tassal, 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.
- On the ECM front, Tianqi Lithium (9696 HK) launched an up to US$1.7bn H-listing, Thai Life Insurance (TLI TB) covered its US$1bn SET listing, Li Auto (LI US) US$2bn ATM offering.
- On the Event-Driven front, there were developments at Link Administration (LNK AU), Tassal (TGR AU), DTAC/True, Ardent Leisure Group Ltd (ALG AU), Australian Unity Office Fund (AOF AU).
CTG Duty Free (601888 CH) Pre-IPO: Revival of H-Share IPO
- China Tourism Group Duty Free Corp Ltd (601888 CH) has revived its H-share IPO plan by re-submitting the Application Proof to the Hong Kong Stock Exchange on 1 Jul.
- While there is no material changes in the Proof, weaker 1Q22 result, negative impact of pandemic and new agreements signed with Guangzhou Airport are recent developments that should be noted.
- We think CDFC’s H-shares, based on similar valuation before cancellation of the previous IPO plan, look less attractive given the sharp pull back of its peers in Hong Kong.
Before it’s here, it’s on Smartkarma
