Report
EUR 91.90
For Business Accounts Only
We have covered most aspects of the deal in our earlier note Zhihu HK Secondary Listing - Going further than Autohome and Weibo, stock might go further down as well.
In this note, we'll talk about the demand and trading dynamics.
Our previous coverage of Zhihu:
Zhihu (知乎) Pre-IPO - In the Early Stages of Monetization
Zhihu (知乎): Censorship as Top Risk, May Follow Fate of Weibo
Zhihu (知乎) IPO - Monetizing Curiosity
Zhihu (知乎) IPO Trading - Peers Have Corrected Significantly but Still Has a Modest Upside
Zhihu (知乎) IPO Trading Update - Peers Took Another Leg Down on the Back of Rumored Document
Zhihu HK Secondary Listing
Zhihu raised around US$106m via a dual primary listing in Hong Kong. Unlike all the prior dual primary/secondary listings which have been done via offering either only primary shares or a mix of primary and secondary shares, Zhihu’s offering will consist of only secondary shares.We have covered most aspects of the deal in our earlier note Zhihu HK Secondary Listing - Going further than Autohome and Weibo, stock might go further down as well.
In this note, we'll talk about the demand and trading dynamics.
Our previous coverage of Zhihu:
Zhihu (知乎) Pre-IPO - In the Early Stages of Monetization
Zhihu (知乎): Censorship as Top Risk, May Follow Fate of Weibo
Zhihu (知乎) IPO - Monetizing Curiosity
Zhihu (知乎) IPO Trading - Peers Have Corrected Significantly but Still Has a Modest Upside
Zhihu (知乎) IPO Trading Update - Peers Took Another Leg Down on the Back of Rumored Document
Underlying
ZHIHU TECHNOLOGY LTD
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.
Sumeet Singh
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