Abstract: RoboTechnik, a photovoltaic and silicon photonics manufacturing equipment maker, launched its IPO to raise USD 660m through an A+H listing. Huatai, Citi, and Orient Capital 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.
ROBOTECHNIK INTELLIGENT TECHNOLOGY, 3757 HK, ESTUN AUTOMATION, FORTIOR, DTECH, SANHUA, SHENZHEN S.C NEW ENERGY TECHNOLOGY, SUZHOU MAXWELL TECHNOLOGIES, SHENZHEN HAN'S CNC TECHNOLOGY, GUANGDONG DTECH TECHNOLOGY, HANS CNC, GIGADEVICE, ASMPT, MJC Probe, CIRCUIT FABOLOGY MICROELECTRONICS EQUIPMENT, CCTC, CFMEE, FormFactor
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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