Aequitas Research - China Evergrande Group (03333) China Evergrande New Energy Placement - The selling begins

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Aequitas Research

Zhen Zhou Toh

EUR 93.06 For Business Accounts Only

China Evergrande New Energy Placement - The selling begins

China Evergrande Group (CEG) is looking to raise about US$1bn from the selldown of 200m shares in China Evergrande New Energy Vehicle (ENEV). There is an upsize option of 100m shares.

In this note, we will discuss our thoughts on the deal, compare ENEV performance to US-listed China EV companies, and run the deal through our ECM framework.

12/05/2021 6 EN

Underlying

China Evergrande Group

China Evergrande Group is an investment holding company. Through its subsidiaries, Co. is engaged in property development, property investment, property management, property construction and other property development related services in the People's Republic of China (which include resort complexes with hotels, sports arenas, and other tourist-related activities). Co.'s operations are organized along four business segments: property development, property investment, property management and other businesses. Co.'s other businesses include property construction and other property development related services.

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KYG2119W1069 Hong Kong Stock Exchange Cayman Islands

Provider

Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.

Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.

Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

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Analysts

Zhen Zhou Toh

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China Evergrande New Energy Placement - The selling begins

CHINA EVERGRANDE sees a downgrade to Negative on account of less fundamental stars

China Evergrande Group: 1 director

Monthly LMI Update Independent Investment Research

Onewo Space-Tech Pre-IPO

Legend Biotech Follow-on Offering

Xtep International Placement

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