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Since then, iRobot lost its lawsuit to halt SharkNinja’s sale of two of its recent robotic vacuums. While iRobot has started to cut price post lawsuit, its robotic vacuums are still much more expensive than Shark’s even though both have similar functionalities and performance.
Aside from the lawsuit from iRobot, SharkNinja also sued Tristar Products and Emeril Lagasse (pressure cooker manufacturer and distributor) for patent infringement in October 2019 but Tristar counter-sued back in December claiming that SharkNinja is in fact the one that has fraudulently obtained and enforced invalid patents and was looking to stifle competition by blocking the sale of Tristar products. The outcome is uncertain but any ruling unfavorable to SharkNinja may clamp down on its fastest growing segments.
Our estimate of JSG’s fair value has risen by about 11%, stemming from the gain in Joyoung’s share price and the climb in valuation of U.S. peers used to peg SharkNinja’s valuation. That said, there were still fundamental issues about the company’s structure (not have full ownership of Joyoung) and the exact synergies that were unanswered.
JS Global (JS 环çƒç”Ÿæ´») IPO Updates Before IPO - Going at It Again
JS Global Lifestyle (1691 HK) (JSG) is looking to re-launch its IPO coming Monday, as per media reports. It was previously looking to raise up to US$462m in its Hong Kong IPO in October but pulled its IPO just three days before the listing date, citing unfavorable conditions.Since then, iRobot lost its lawsuit to halt SharkNinja’s sale of two of its recent robotic vacuums. While iRobot has started to cut price post lawsuit, its robotic vacuums are still much more expensive than Shark’s even though both have similar functionalities and performance.
Aside from the lawsuit from iRobot, SharkNinja also sued Tristar Products and Emeril Lagasse (pressure cooker manufacturer and distributor) for patent infringement in October 2019 but Tristar counter-sued back in December claiming that SharkNinja is in fact the one that has fraudulently obtained and enforced invalid patents and was looking to stifle competition by blocking the sale of Tristar products. The outcome is uncertain but any ruling unfavorable to SharkNinja may clamp down on its fastest growing segments.
Our estimate of JSG’s fair value has risen by about 11%, stemming from the gain in Joyoung’s share price and the climb in valuation of U.S. peers used to peg SharkNinja’s valuation. That said, there were still fundamental issues about the company’s structure (not have full ownership of Joyoung) and the exact synergies that were unanswered.
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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.
Zhen Zhou Toh
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