Abstract: Guangdong Dtech Technology launched its Hong Kong IPO at a USD 617m base deal size. CITIC and HSBC are the deal sponsors. We review the deal terms, cornerstone investors, sponsor track records and valuation. We would participate, although the implied A-H premium is above our initiation-note fair-premium view.
DELTON TECHNOLOGY (GUANGZHOU), DAJIN, 1377 HK, SANHUA, VGT, VICTORY GIANT TECHNOLOGY (HUIZHOU), SHENZHEN HAN'S CNC TECHNOLOGY, GUANGDONG DTECH TECHNOLOGY, HANS CNC, CIG, MONTAGE TECH, CIRCUIT FABOLOGY MICROELECTRONICS EQUIPMENT, CFMEE
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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