Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Cloopen Group Holdings IPO Valuation Analysis

Cloopen (容联.云通讯) IPO Trading - Set for a Strong Debut

Cloopen  (容联.云通讯) Lock-Up Expiry - Some Pre-IPO Investors Sitting on Losses

Cloopen (容联.云通讯) Pre-IPO - Forecast, Assumptions, and Valuation

Cloopen (容联.云通讯) IPO - Hi Sun Tech Angle Gets More Attractive

Kingsoft Cloud - Oversold on Equity Offering; Annual Revenues in 2020 Similar to AWS 9 Years Ago

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Cloopen (容联.云通讯) Pre-IPO - Investments in Cloopen + Pax Global > Hi Sun Tech Market Cap

Equity Capital Markets

Cloopen Group Holding Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/cloopen-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:31315:1" rel="noopener">Cloopen Group Holding Ltd (RAAS US)</a> ("Cloopen") which provides cloud based communication services in China, plans to complete its IPO in the US in the coming days. Founded in 2012 and headquartered in Beijing, Cloopen Group operates the largest multi-capability cloud-based communications solution services in China in terms of 2019 revenue.<a href="https://www.renaissancecapital.com/IPO-Center/News/76061/Chinese-cloud-communication-provider-Cloopen-Group-Holding-sets-terms-for-%24" target="_blank" rel="noopener">Cloopen Group Holding</a> plans to raise $280 million (mid-point of IPO price range) by offering 20 million ADSs at a price range of $13 to $15. At the high point of IPO price range, the company could raise as much as $300 million. At the midpoint of the proposed range, Cloopen Group Holding would command a market value of $2.1 billion, which would represent a P/S multiple of 22x using 2019 sales. Cloopen Group Holdings will likely be compared to companies such as <a href="https://www.smartkarma.com/entities/kingsoft-cloud" target="_blank" data-smartkarma-citation="entities:28835:1" rel="noopener">Kingsoft Cloud (KC US)</a> which have experienced very strong share price appreciation in the past year.

Cloopen Group Holding Ltd (RAAS US) ("Cloopen") which provides cloud based communication services in China, plans to complete its IPO in the US in the coming days. Founded in 2012 and headquartered in Beijing, Cloopen Group operates the largest multi-capability cloud-based communications solution services in China in terms of 2019 revenue.Cloopen Group Holding plans to raise $280 million (mid-point of IPO price range) by offering 20 million ADSs at a price range of $13 to $15. At the high point of IPO price range, the company could raise as much as $300 million. At the midpoint of the proposed range, Cloopen Group Holding would command a market value of $2.1 billion, which would represent a P/S multiple of 22x using 2019 sales. Cloopen Group Holdings will likely be compared to companies such as Kingsoft Cloud (KC US) which have experienced very strong share price appreciation in the past year. 

Cloopen Group Holding Ltd

Cloopen Group Holdings IPO Preview