Sino Grandness: Upcoming listing of Garden Fresh lifts share price overhang
- Announced submission of draft prospectus on the HKEx
- Lifts key overhang and could unlock value if successful
- Recent ascent rewards shareholders who have held onto the stock since 2015, new entrants should be cautious as IPO pricing has not been set.
- Potential dilution from convertible debt
- Trading at a steep discount of 11.1x trailing PE (HK-listed peers: 33.7x) even after ascent