Abstract: Transsion, a mobile phone maker focused on Africa and other emerging markets, launched its IPO to raise USD 428m through an A+H listing. CITIC 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.
SHENZHEN LONGSYS ELECTRONICS, MediaTek, BYD, DTECH, LUXSHARE ICT, LONGSYS, GIGADEVICE, TRANSSION, MEIG SMART TECHNOLOGY, MEIG, ZTE, ZTE, HISENSE HOME APPLIANCES, HISENSE HA, HAIER SMART HOME, HAIER SMARTHOME, MIDEA, MIDEA, XIAOMI, ANKER INNOVATIONS TECHNOLOGY, UGREEN, Samsung Electronics, Apple
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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