SoftBank Group is a holding company. Domestic Telecommunications business provides mobile communication services, mobile devices, broadband services to retail customers, and telecom services to corporate customers in Japan. Sprint business provides mobile communication services and fixed-line telecommunication services in the U.S. Yahoo Japan business operates Internet-based advertising and e-commerce business. Distribution business distributes mobile devices overseas, and sells software and mobile device accessories in Japan. ARM business designs microprocessor intellectual property and related technology. SoftBank Vision Fund & Delta Fund business is engaged in the investment activities.
Thai Beverage Public Company is engaged in the production and distribution of alcoholic and non-alcoholic beverages, as well as the operation of Japanese restaurants. Co.'s business consists of four segments: spirits, beer, non-alcohol beverages and food. The spirits segment is engaged in the production and sales of branded spirits products. The beer segment is engaged in the production and sales of branded beer products. The non-alcoholic beverages segment involves the production and sales of branded water, soda, ready-to-drink coffee, energy drink, green tea and fruit juice flavour. The food segment includes Japanese restaurants, bakery shops and distribution of food and beverage.
Tianqi Lithium Corporation, formerly Sichuan Tianqi Lithium Industries, Inc., is a China-based company principally engaged in the research and development, manufacture and distribution of lithium products. The Company primarily provides lithium mineral products, lithium compounds, derived lithium products and others. The Company's lithium products are mainly applied in metallurgy, electronics, glass and ceramics, battery, rubber, medical treatment and other industries. The Company distributes its products in domestic and to overseas markets.
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.
GREATER CHINA Sector Automobile: Weekly: China’s PEV retail sales up 37% yoy/2% mom during 1-19 Nov 23, in line. Maintain UNDERWEIGHT. Remove BYD from top pick list. Top picks: CATL and Li Auto. INDONESIA Results XL Axiata (EXCL IJ/BUY/Rp2,090/Target: Rp2,400): 3Q23: Fixed broadband subscribers surge 84% yoy. Upgrade to BUY. MALAYSIA Results Genting Malaysia (GENM MK/BUY/RM2.58/Target: RM3.50): 3Q23: Historical high quarterly earnings within expectations, mainly fuelled by RWG’s stronger operations and recovery in its UK operations’ EBITDA. Matrix Concepts Holdings (MCH MK/BUY/RM1.62/Target:...
THBEV reported lower FY23 PATMI of Bt27.4b (-8.9% yoy), lower than our expectations, dragged by the beer segment. The spirits segment benefitted from a better product sales mix while the beer segment underperformed as sales volume in Vietnam fell. Both the NAB and food segments posted record-high revenue as economic activity continues to recover. In our view, THVBEV is trading at an attractive -2SD to its mean PE. Maintain BUY with a lower SOTP-based target price of S$0.70 (S$0.75 previously).
Onewo Space-Tech (OST) aims to raise around US$2bn in its Hong Kong IPO. OST is a property management service provider in China, primarily owned by China Vanke. As per Frost & Sullivan, in 2020, amongst the residential community service providers in the market, OST ranked first in terms of revenue. It also ranked first in the commercial space integrated services market in China. As of end FY21, it has a footprint in 153 cities in 32 provinces across China with 89% of total GFA under management for residential properties located in first-tier, new first-tier and second-tier cities. OST has m...
Legend Biotech, a non-wholly owned subsidiary of Hong Kong-listed GenScript, is planning to raise up to US$250m in its follow-on offering. The company last raised cash in Dec 2021 in a similar sized deal, which ended up doing very well after a sharp share price correction. In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
Group Success Investments is looking to raise up to US$133m by trimming its holdings in Xtep International. We can’t say that the deal is expected and short interest on the stock hasn’t been creeping up as well. While the deal won’t be a large one, representing just 5.7 days of three month ADV, the firm’s last deal hasn’t done well.
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