IFR International - 21.07.2018

WELLûASûTOûREPAYûDEBTûANDûFORûGENERALû
CORPORATEûPURPOSES
4HEûCOMPANYûISûBACKEDûBYûSEVERALûHIGH
PROlLEûSHAREHOLDERS ûINCLUDINGû#ITICû
Prudential Life Insurance and China
%VERBRIGHT
(OPEû%DUCATIONûPOSTEDûAûûPROlTûOFû
2MBMû53M ûONûREVENUEûOFû
2MBM
Citigroup and China Merchants Securities are
THEûJOINTûSPONSORS

PINTEC TECHNOLOGY FILES NASDAQ IPO

PINTEC TECHNOLOGY ûAû#HINESEûlNTECHû
COMPANY ûHASûlLEDûFORûAû.ASDAQû)0/ûTOûRAISEû
UPûTOû53M
Citigroup, Deutsche Bank Securities and
Goldman Sachs AREûJOINTûUNDERWRITERS
4HEûCOMPANYûPOSTEDûTOTALûINCOMEûOFû
2MBMû53M ûFORûTHEûlRSTûTHREEûMONTHSû
OFûTHISûYEAR ûCOMPAREDûWITHûAû2MBMû
LOSSûAûYEARûEARLIERû)TûPOSTEDûAûLOSSûOFû
2MBMûLASTûYEARûANDûONEûOFû2MBMû
INû
#OMPANYûDIRECTORû*UNû$ONGûHASûAûû
STAKEûINû0INTECû4ECHNOLOGY ûWHILEû#%/û7EIû
7EIûHOLDSû
8IAOMIû6ENTURESûANDû-ATRIXû0ARTNERSû
#HINAûALSOûRESPECTIVELYûCONTROLûûANDû
ûOFûTHEûCOMPANYû.ASDAQ
LISTEDû3INAûISû
ALSOûANûINVESTOR ûHAVINGûPARTICIPATEDûINûAû
FUNDINGûROUNDûINû-AY
!CCORDINGûTOûTHEûREGULATORYûlLING û0INTECû
4ECHNOLOGYûHADûûBUSINESSûPARTNERSûANDû
ûlNANCIALûPARTNERSûASûOFû-ARCHûû)TûOFFERSû
POINT
OF
SALEûlNANCINGûSOLUTIONS ûPERSONALû
and business installment loans, wealth
MANAGEMENTûANDûINSURANCEûPRODUCTS
0ROCEEDSûWILLûBEûUSEDûTOûREPAYûSOMEû
shareholder loans and to acquire
COMPLEMENTARYûTECHNOLOGIES ûASûWELLûASûFORû
GENERALûCORPORATEûPURPOSESû!SûOFû-ARCHû
 ûTHEûCOMPANYûHADûABOUTûMû
REGISTEREDûUSERS

INDIA

IRCON PLANS IPO IN SEPTEMBER

3TATE
OWNEDûRAILWAYûINFRASTRUCTUREû
ENGINEERINGûANDûCONSTRUCTIONûCOMPANYû
IRCON INTERNATIONALûHASûRECEIVEDûAPPROVALû
FROMûTHEû3ECURITIESûANDû%XCHANGEû"OARDûOFû
)NDIAûFORûANû)0/ûOFûUPûTOû2SBNû53M û
ANDûISûPLANNINGûAûLAUNCHûINû3EPTEMBER û
ACCORDINGûTOûPEOPLEûWITHûKNOWLEDGEûOFûTHEû
TRANSACTION
4HEûGOVERNMENTûOFû)NDIA ûWHICHûOWNSû
ûOFûTHEûCOMPANY ûWILLûBEûSELLINGûMû
SHARES ûORûAûûSTAKE ûINûTHEû)0/
)RCONûPOSTEDûAûPROlTûBEFOREûTAXûOFû2SBNû
INûTHEûlNANCIALûYEARûTHATûENDEDûONû-ARCHûû
 ûVERSUSû2SBNûINû

Axis, IDBI Capital and SBI Capital Markets are

THEûBOOKRUNNERS

AFFLE INDIA PLANS IPO OF UP TO Rs7bn

-OBILEûMARKETINGûCOMPANYûAFFLE INDIA is

PLANNINGûANû)0/ûOFû2SBNn2SBNû

53MnM   ûLATERûTHISûYEARûANDûHASû

lLEDûAûDRAFTûPROSPECTUSûWITHûTHEû3ECURITIESû

ANDû%XCHANGEû"OARDûOFû)NDIA

0RIMARYûSHARESûAMOUNTINGûTOû2SMû

ALONGûWITHûMûSECONDARYûSHARESûWILLûBEû

SOLDûINûTHEû)0/û!FmEû(OLDINGSûWHICHûOWNSû

ANûûSTAKEûISûTHEûVENDORûOFûTHEû

SECONDARYûSHARESû!FmEû'LOBALûOWNSûTHEû

REMAININGûûOFû!FmEû)NDIAû!NUJû+UMARû

3OHUMû-ICROSOFTû'LOBALû&INANCEûANDû)NDIANû

MEDIAûCOMPANYû"ENNETTû#OLEMANûAREû

AMONGûTHEûSHAREHOLDERSûOFûTHEû3INGAPORE

BASEDû!FmEû(OLDINGS

!FmEû)NDIAûHADûAûNETûPROlTûOFû2SMûINû

THEûlNANCIALûYEARûTHATûENDEDû-ARCHûûû

VERSUSû2SMûINûTHEûYEAR

AGOûPERIOD

ICICI Securities and Nomura are the

BOOKRUNNERS

PHILLIPS CARBON PLANS Rs6bn SHARE

SALE

PHILLIPS CARBON BLACKûISûPLANNINGûAû2SBNn

2SBNû53MnM  ûQUALIlEDû

INSTITUTIONALûPLACEMENTûOFûSHARESûPEOPLEû

WITHûKNOWLEDGEûOFûTHEûTRANSACTIONûHAVEû

SAID

The timing of the offer has not yet been

DECIDEDûBUTûTHEû)NDIANûCARBONûBLACKû

PRODUCERûHASûBEENûMEETINGûINVESTORS

Edelweiss, IIFL and ICICI Securities are

WORKINGûWITHûTHEûCOMPANYûTHOUGHûAûFORMALû

SYNDICATEûHASûNOTûYETûBEENûlNALISED

#ARBONûBLACKûISûUSEDûINûTHEûTYREûANDû

RUBBERûINDUSTRIES

HDFC AMC IPO SIZE LOWER THAN

EXPECTED

HDFC ASSET MANAGEMENTûHASûSETûAûPRICEûRANGEû

OFû2Sn2SûPERûSHAREûFORûITSû)0/û

EQUIVALENTûTOûPROCEEDSûOFûUPûTOû2SBNû

53M    

The size of the deal is smaller than the

PREVIOUSLYûEXPECTEDû2SBNûTARGETûASûAû

RESULTûOFûRECENTûMARKETûVOLATILITY

4HEûTOPûOFûTHEûPRICEûRANGEûIMPLIESûAûû

0%ûMULTIPLEûOFûû2ELIANCEû.IPPONû,IFEû

!SSETû-ANAGEMENTûTHEûONLYûOTHERûLISTEDû

!-#ûINû)NDIAûTRADESûATû

4HEûOFFERINGûCOMPRISESûMûSHARESûORûAû

ûSTAKEûTOûBEûSOLDûBYûTHEûASSETûMANAGERSû

TWOûBIGGESTûSHAREHOLDERSûnûMORTGAGEûLENDERû

(OUSINGû$EVELOPMENTû&INANCEû#ORPûANDû

3TANDARDû,IFEû!BERDEENû($&#ûISûSELLINGûAûû

STAKEûANDû3TANDARDû,IFEû

4HEû)0/ûWILLûBEûOPENûFORûSUBSCRIPTIONûONû

*ULYû



)TûWASûPUSHEDûBACKûFROMû*ULYûûAFTERûTHEû

MARKETûREGULATORûASKEDû($&#û!-#ûTOûSCRAPû

AûPRE

)0/ûSHAREûPLACEMENTûTOûlNANCIALû

ADVISERSû($&#û!-#ûISSUEDûMûSHARESûINû

!PRILûATû2SûEACHûTOûûDISTRIBUTORSû

4HISûPROMPTEDûOTHERû!-#SûTOûCOMPLAINûTOû

THEû3ECURITIESûANDû%XCHANGEû"OARDûOFû)NDIAû

that such an issue would affect the ability of

THEûlNANCIALûADVISERSûTOûGIVEûNEUTRALûADVICEû

TOûTHEIRûCLIENTS

3EBIûASKEDû($&#û!-#ûTOûCANCELûTHEû

PLACEMENTûANDûREFUNDûTHEûMONEYûTOûTHEû

lNANCIALûADVISERSûWITHûûINTEREST

)NVESTMENTûlRMû++2ûHASûNOWûBOUGHTûTHEû

MûSHARESûATûTHEûSAMEûPRICEûANDûREFUNDEDû

THEûINTERESTû($&#ûHADûTOûPAYûTOûTHEûlNANCIALû

ADVISERS

($&#û!-#ûHADûASSETSûOFû2STRNûASûOFû

$ECEMBERûû

Axis, Bank of America Merrill Lynch, Citigroup,

CLSA, HDFC Bank, ICICI Securities, IIFL Holdings,

JM Financial, JP Morgan, Kotak, Morgan Stanley

and NomuraûAREûTHEûBOOKRUNNERS

ASK PLANS UP TO US$250m IPO

7EALTHûMANAGEMENTûlRMûASK GROUP is

PLANNINGûAû53MnMû)0/ûLATERûTHISû

YEARûPEOPLEûWITHûKNOWLEDGEûOFûTHEû

TRANSACTIONûHAVEûSAID

4HEûDRAFTûPROSPECTUSûISûLIKELYûTOûBEûlLEDûINû

!UGUST

4HEû)0/ûWILLûCOMPRISEûSECONDARYûANDû

PRIMARYûSHARESûWITHûTHEûFORMERû

REPRESENTINGûTHEûBULKûOFûTHEûOFFER

0RIVATEûEQUITYûlRMû!DVENTû)NTERNATIONALû

ANDûFOUNDERSû!SITû+OTICHAûANDû3AMEERû

Koticha are the controlling shareholders of

THEûCOMPANY

!3+ûMANAGESûASSETSûTOTALLINGû53BN

Axis, Citigroup, JM Financial and Nomura are

THEûBOOKRUNNERS

JAPAN

JAPAN’S INVINCIBLE SELLS NEW SHARES

INVINCIBLE INVESTMENTûAûREALûESTATEûINVESTMENTû

TRUSTûISûPLANNINGûAûGLOBALûFOLLOW

ONûOFFERINGû

OFûNEWûUNITSûTOûRAISEûUPûTOûcBNû

53M    ûBASEDûONû*ULYûSûCLOSINGûPRICEû

OFûc

4HEû2%)4ûPLANSûTOûSELLûûUNITSûINûTHEû

BASEûDEALûWITHûAûSECONDARYûGREENSHOEûOFûUPû

TOûûUNITSûATûAûDISCOUNTûOFûnûTOû

THEûMARKETûPRICE

!BOUTûûOFûTHEûSHARESûWILLûBEûSOLDûTOû

INTERNATIONALûINVESTORSûANDûûTOûDOMESTICû

INVESTORS

"OOKSûWILLûOPENûONû*ULYûûANDûCLOSEûONû

*ULYûû4HEûDEALûWILLûBEûPRICEDûASûEARLYûASû

*ULYû

4HEûCOMPANYûWILLûUSEûTHEûPROCEEDSûTOû

lNANCEûTHEûPURCHASEûOFûSIXûHOTELûPROPERTIESû

EQUITIES ASIA-PACIFIC