Abstract: Nexchip, an IC foundry focused on display driver ICs and image sensors, launched its IPO to raise USD 897m through an A+H listing. CICC is the sole sponsor. 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.
GOERTEK, DAJIN, HUA HONG SEMI, Zijin Gold Intl, HANS CNC, GPIXEL, SG MICRO, CATL, GIGADEVICE, MONTAGE TECH, SMARTSENS, HUA HONG SEMICONDUCTOR, SMIC, CHERY AUTOMOBILE
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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