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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Lenovo Group Limited    992   HK0992009065

LENOVO GROUP LIMITED

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VIA Optronics shares slide as much as 35% after lackluster New York debut

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09/25/2020 | 02:25pm EDT

VIA Optronics AG's shares underwhelmed in their debut on the New York Stock Exchange and fell as much as 35% on Friday, after the Germany-based company priced its initial public offering at the lower end of its indicated range.

Earlier on Friday, VIA sold 6.25 million American Depository Shares to raise about $94 million.

Shares of the firm, which makes interactive display systems for a number of sectors including automotive and industrials, opened at $12 apiece compared with the IPO price of $15 per ADS.

VIA's debut also came on a day when U.S. capital markets were set for their longest weekly losing streak in a year as fears about the coronavirus' impact on the economy weighed on investor sentiment.

According to experts tracking IPOs, investors punished the stock for being overvalued and raised concerns over the company's financials.

"Investors are concerned about if this company will be able to make money" said Jay Ritter, an IPO expert and professor at the University of Florida. "At the offer price, the valuation of over $300 million was too high."

For the six months ended June 30, the company posted revenue of 64.8 million euros ($72.6 million), down 8% from a year ago. Its net loss narrowed to 867,000 euros from 2.5 million euros a year earlier.(https://bit.ly/3kEXbCn)

According to CEO Jurgen Eichner, the pandemic did not impact VIA's plans to go public, although it affected the company's performance in the first quarter.

"In the second quarter, we were already back on track. This was the right point in time (for us to go public), because we cannot sustain the growth organically," Eichner said.

VIA's customers include car-makers like BMW AG, Ferrari NV and General Motors Co and tech companies like Lenovo Group Ltd and Dell Technologies Inc.

By Madhvi Pokhriyal


Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -0.13% 63.93 Delayed Quote.-12.59%
DELL TECHNOLOGIES INC. -0.87% 68.18 Delayed Quote.32.67%
FERRARI N.V. -0.07% 189.97 Delayed Quote.14.76%
GENERAL MOTORS COMPANY -1.55% 36.83 Delayed Quote.0.63%
LENOVO GROUP LIMITED -1.58% 4.98 End-of-day quote.-4.78%
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Financials (USD)
Sales 2021 52 639 M - -
Net income 2021 745 M - -
Net Debt 2021 688 M - -
P/E ratio 2021 10,1x
Yield 2021 5,27%
Capitalization 7 720 M 7 720 M -
EV / Sales 2021 0,16x
EV / Sales 2022 0,14x
Nbr of Employees 63 000
Free-Float 57,5%
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Technical analysis trends LENOVO GROUP LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 18
Average target price 0,77 $
Last Close Price 0,64 $
Spread / Highest target 62,6%
Spread / Average Target 20,4%
Spread / Lowest Target -5,69%
EPS Revisions
Managers
NameTitle
Yuan Qing Yang Chairman & Chief Executive Officer
Gianfranco Lanci President & Chief Operating Officer
Wai Ming Wong Chief Financial Officer & Executive Vice President
Arthur Hu Chief Information Officer & Senior Vice President
Yong Rui Chief Technology Officer & Senior Vice President
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