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, GIGADEVICE SEMICONDUCTOR, MONTAGE TECH, MONTAGE, DOSILICON, Biwin Storage, SMIC, SMIC, Micron Technology
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