SVLPF - Highly-Leveraged Cushman & Wakefield IPO: Undervalued But Risky
Growing EBITDA through consolidation efforts, Cushman & Wakefield (CWK) could be an interesting opportunity. With that said, it is also a very risky bet because of its leverage. It is being sold at a discount as compared to peers because of large debt that will be payable in 2021. Finally, goodwill and intangibles comprise of 52% of the assets, thus there is also impairment risk on this name.
Source: Prospectus
The best teams on Wall Street are working on this IPO. The following is a list provided in the prospectus:
Source: Prospectus