Report
EUR 88.49
For Business Accounts Only
In our previous note, we reckoned that FangDD is lagging behind peers in terms of friendliness of interface. The key problem for online property market places like Fang DD is the authentic property listing, which only property agent networks like Lianjia can guarantee. FangDD’s close peer SFUN had tried to become a property agent network but failed badly. We also analysed the company’s financials and believe that competition has led to spread contraction for FangDD in recent quarters.
In this note, we will take a closer look at the valuation. We think FangDD is fairly valued at the low end. We would avoid the deal.
Our previous coverage on FangDD
- FangDD (房多多) IPO: Reminiscence of SFUN?
FangDD IPO (房多多) IPO - Valuation rich at low end
FangDD plans to raise up to US$105m in its upcoming IPO in the US. In our previous note, we have covered the company’s fundamentals, compared its interface with its competitors.In our previous note, we reckoned that FangDD is lagging behind peers in terms of friendliness of interface. The key problem for online property market places like Fang DD is the authentic property listing, which only property agent networks like Lianjia can guarantee. FangDD’s close peer SFUN had tried to become a property agent network but failed badly. We also analysed the company’s financials and believe that competition has led to spread contraction for FangDD in recent quarters.
In this note, we will take a closer look at the valuation. We think FangDD is fairly valued at the low end. We would avoid the deal.
Our previous coverage on FangDD
- FangDD (房多多) IPO: Reminiscence of SFUN?
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.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Ke Yan
Other Reports from Aequitas Research
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.