Abstract: Longsys, a branded memory-module maker, launched its IPO to raise USD 800m through an A+H listing. CITIC and Citi are the deal sponsors. In this note, we look at the deal terms and provide our thoughts on valuation for the company. We analyze reference A+H transactions, cornerstone and sponsor performance and assess the risk-reward of the deal.
SHENZHEN LONGSYS ELECTRONICS, Samsung Electronics, COFOE MEDICAL, VGT, GIGADEVICE, MONTAGE TECH, DOSILICON, Biwin Storage, SMIC, Micron Technology
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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