LG Energy, India’s LIC tops Asia’s major IPOs to watch next year

(Bloomberg) – The giant ad queue in Asia next year includes the world’s second-largest battery maker in Seoul and an insurer with more than 1.2 million agents and 100,000 employees in Mumbai. Chinese issuers’ mega-operations in Hong Kong, meanwhile, may take some time to resume.

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India and South Korea hit record first-time stock sales in 2021 amid a boom in unicorn quotes at a time of record rates and rising stock markets. In Hong Kong, a traditional home for Asian IPOs, big sales disappeared following Beijing’s crackdown on industries ranging from tech to games and education, which sparked a massive sell-off of actions.

Read more: IPOs in Asia face headwinds after record year of fundraising

India and Korea have the potential for “phenomenal growth” next year, said Selina Cheung, co-head of equity capital markets for Asia at UBS Group AG in Hong Kong. Additionally, she expects a number of Southeast Asia’s largest unicorns to be listed. They will either arrive in local markets or in the United States.

Here are some great deals to watch in Asia in 2021 and their respective markets.

LG Energy Solution, South Korea

It should be the first big deal of the year. LG Energy Solution plans to raise up to 12.7 trillion won ($ 10.8 billion), which is expected to set a record in the country. The books will open in mid-January and listing is scheduled for January 27. supported Hyundai Oilbank Co. aims to raise up to $ 1.7 billion.

Life Insurance Corp. of India, India

A 5% to 10% portion of the public insurer known as LIC is expected to be sold by March. The government is seeking a valuation of up to 10,000 billion rupees ($ 133 billion), setting a local record and potentially making it one of the largest listings involving an insurer in the world.

As for Indian companies going public in the United States, online education provider Byju’s is said to be in advanced talks to merge with a specialist acquisition company, which would raise around $ 4 billion for one. valuation of approximately $ 48 billion.

Syngenta Group, China

The company, owned by China National Chemical Corp., said in July it was targeting a 65 billion yuan ($ 10.2 billion) product from a listing in Shanghai. The company plans to sell up to 2.79 billion new shares in the IPO, the equivalent of a 20% stake. As of yet, there is no scheduled debut date.

Hong Kong

Several large deals have been put on hold in the financial hub amid regulatory uncertainties triggered by the widening crackdown in China and sluggish markets.

Biel Crystal Manufactory Ltd., the supplier of protective glass to Apple Inc. was initially set to raise $ 2 billion this year, but has decided to push back its plans pending a better market window, IFR reported on November 23. Chinese Tourism Group Duty Free Corp. suspended a $ 5 billion offer in December, citing sluggish financial markets and the pandemic.

FWD Group Ltd., on the other hand, has withdrawn its plan to go public in the United States and is now considering an IPO in Hong Kong. In addition to the names first published in the city, investors should watch for developments in so-called homecoming: offers from Chinese companies already listed in the United States looking to move closer to home.

Read more: Didi’s delisting and HKEX reforms could fuel US migration

South East Asia

GoTo Group, the Indonesian company formed as a result of a merger between the country’s two most valuable startups, has hired banks to help it raise around $ 1 billion, which could happen as early as the first quarter. Investors should also keep an eye out for blank check companies in Singapore, the first market in Asia to set a framework for their listing.

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