IPO and L/S equity, 2015 Starmine top stock picker, Global Equity Research Ltd

Rickin Thakrar

14 years of experience in global investment research and trading. In relation to research, we focus on IPO, Event-driven and large-cap non-consensual ideas. In relation to trading, we focus on generating positive index-adjusted returns and have had several top-decile or top-quartile performances over the past three years. In terms of background, I have worked at several sell-side firms (JP, Redburn, Haitong, Mainfirst), won Starmine as top stock picker in European Food Retail in 2015 and have been voted top one to top-five by institutions and hedge funds. Please do ping us if you would like any further info. 

Global Equity Research Ltd. (GER) is an appointed representative of Messels Ltd., which is authorised and regulated by the Financial Conduct Authority of the UK.

IPO and L/S equity, 2015 Starmine top stock picker

Yum China Secondary Listing: Trading Debut

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Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Yum China Holdings  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/yum-china-holdings-inc-0533692c-6dae-4014-baa1-ed0b050638f2" target="_blank" data-smartkarma-citation="entities:29259:1" rel="noopener">Yum China (9987 HK)</a> had a tough debut for its secondary listing, with the shares closing down c5%. We have been cautious on the secondary listing (<a href="https://www.smartkarma.com/insights/yum-china-secondary-listing-do-the-fundamentals-stack-up-post-2q20-earnings" target="_blank" rel="noopener">note here</a>) and the HK shares currently trade at a c5% discount to the ADR last close price and flat vs the ADR pre-market price. We give our updated thoughts on the secondary listing below.</p>

Yum China (9987 HK) had a tough debut for its secondary listing, with the shares closing down c5%. We have been cautious on the secondary listing (note here) and the HK shares currently trade at a c5% discount to the ADR last close price and flat vs the ADR pre-market price. We give our updated thoughts on the secondary listing below.

Yum China Secondary Listing – Is There More Downside?