Abstract: Denglin, a general-purpose graphics processing unit (GPGPU) chip provider for AI computing, launched its Hong Kong IPO to raise USD 225m. CITIC, CSC and BOCI are the joint sponsors. In this note, we look at the deal terms and provide our thoughts on valuation for the company. We analyze cornerstone and sponsor performance and assess the risk-reward of the deal.
9917 HK, NANTONG FUJITSU MICROELECTRONICS, RIGOL, LINGYI ITECH, TENNOR THERAP, HUAQIN, ILUVATAR COREX, BIREN TECH, METAX INTEGRATED CIRCUITS, MOORE THREADS TECHNOLOGY, HYGON INFORMATION TECHNOLOGY, CAMBRICON, 688801 CH, Nvidia
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
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