Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of May 31st which has an aggregated holding worth USD515.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,106mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Sk Hynix, Doosan Enerbility, Hd Hyundai Elect, Samsung Electronics, Lg Chem, Samsung SDI.</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of May 31st which has an aggregated holding worth USD515.2bn.
We estimate that foreign flows to be outflows of USD1,106mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Sk Hynix, Doosan Enerbility, Hd Hyundai Elect, Samsung Electronics, Lg Chem, Samsung SDI.


KRX Foreign Holding Weekly (May 31st): Sk Hynix, Samsung Electronics

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shift-up-corp" target="_blank" data-smartkarma-citation="entities:36232:1" rel="noopener">Shift Up (462870 KS)</a> plans to raise up to US$320m in its South Korean IPO.</li>
<li>Shift Up is a South Korean games developer, which as released three games so far for the global markets.</li>
<li>We have looked at the company’s performance in our past notes. In this note, we talk about valuations.</li>
</ul>



Shift Up (462870 KS) plans to raise up to US$320m in its South Korean IPO.
Shift Up is a South Korean games developer, which as released three games so far for the global markets.
We have looked at the company’s performance in our past notes. In this note, we talk about valuations.


Shift Up IPO - Thoughts on Valuations - Bear/Base/Bull

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shift-up-corp" target="_blank" data-smartkarma-citation="entities:36232:1" rel="noopener">Shift Up (462870 KS)</a> plans to raise up to US$320m in its upcoming South Korean IPO.</li>
<li>Shift Up is a South Korean games developer, which as released three games so far for the global markets.</li>
<li>In our previous note, we looked at the company’s past performance. In this note, we will undertake a peer comparison.</li>
</ul>



Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO.
Shift Up is a South Korean games developer, which as released three games so far for the global markets.
In our previous note, we looked at the company’s past performance. In this note, we will undertake a peer comparison.


Shift Up IPO - Peer Comparison - Small in Size but Ranks High on Growth and Margins

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of May 24th which has an aggregated holding worth USD533.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD443mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Sk Hynix, Hyundai Motor, Hd Hyundai Heavy, Samsung Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of May 24th which has an aggregated holding worth USD533.9bn.
We estimate that foreign flows to be inflows of USD443mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Sk Hynix, Hyundai Motor, Hd Hyundai Heavy, Samsung Electronics.


KRX Foreign Holding Weekly (May 24th): Sk Hynix, Hyundai Motor, HHI, Samsung Electronics

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shift-up-corp" target="_blank" data-smartkarma-citation="entities:36232:1" rel="noopener">Shift Up (462870 KS)</a> plans to raise up to US$320m in its upcoming South Korean IPO.</li>
<li>Shift Up is a South Korean games developer, which as released three games so far for the global markets.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO.
Shift Up is a South Korean games developer, which as released three games so far for the global markets.
In this note, we talk about the not-so-positive aspects of the deal.


Shift Up IPO - The Negatives - Changing Monetisation Model, Censorship Issues

South Korea

Naver Corp. provides Internet site with web portal services, such as search engine, online game and content development.  The Company also offers marketing service through text and banner advertisement.

AfreecaTV CO.,LTD. provides digital media storage, streaming, downloading, video on demand, advertising services, contents delivery network, and internet games.

Daou Technology Inc. designs and constructs Internet-based information systems using system integration technologies.  The Company, through its subsidiary companies, provides on-line security trading service and markets computer peripheral devices, such as printer, hardware, and software.

Connectwave Co., Ltd. operates as an online shopping portal site. The Company provides price comparing and shopping information providing service. Connectwave also generates income from advertisement.

Ahnlab, Inc. designs and develops anti-virus solutions for network server systems, personal computers, and e-business data systems.  The Company also offers consulting service and develops Internet security applications.

Feelingk Co., Ltd. provides end-to-end solutions for the wireless Internet system.  The Company's products includes WAP gateway, Short Messaging Service Center (SMSC), and Push Proxy Gateway (PPG).  Feelingk provides wireless solution to major mobile telecom service providers such as SK and LG telecom.

BusinessOn Communication Co., Ltd operates software as a service company. The Company provides electronic tax bill, integrated purchase management, electronic contract, purchase confirmation, and default registration services. BusinessOn Communication also offers online advertising services.

Kt alpha Co., Ltd. provides Internet connectivity services. The Company also offers web portal services, electronic commerce hosting, media publishing, and application hosting services. Kt alpha offers services in Korea.

Gabia Inc. provides Internet domain registration services.  The Company offers customer support and services such as Web hosting, domain registration and management, and Web agency.  Gabia also provides solution for Internet shopping mall and e-learning business.

Medifron DBT Co., Ltd. researches and develops pharmaceuticals for neuropathic pain, agonists and others. The Company also engages in sale of pharmaceuticals and patent license businesses. The other business division provides real-time voice contents for Internet services and distributes computer peripheral such as LCD monitor, printer, and mouse, through online shopping malls.

Yandex NV operates an Internet website in Russia.  The Company's website offers an Internet search engine, news, shopping information, blogs, photographs and videos.  Yandex earns its revenues from online advertising.

SPS Commerce Inc provides on-demand supply chain management solutions through an online hosted software suite.  The Company uses pre-built integrations to eliminate on-premise software and support staff to shorten supply cycle times, optimize inventory levels and reduce costs.

Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the Internet; ranging from live and on-demand streaming video capabilities to conventional content on websites, to tools that help people transact business and reach out to new and existing customers.

NEXTDC Ltd. develops data centers. The Company develops and operates carrier and systems integrator neutral data centers in Australia. NEXTDC's customers will also be able to use the data centers as connectivity and content hubs.

AppFolio, Inc. provides cloud-based software solutions. The Company offers a cloud-based property management software that allows apartment and residential property managers to market, manage, and grow their business. AppFolio conducts business in the United States.

Zillow Group, Inc. provides e-commerce services. The Company provides information about homes, real estate listings, and mortgages through their website and mobile applications. Zillow serves homeowners, buyers, sellers, renters, and real estate professionals throughout the United States.

VeriSign Inc provides domain names and Internet security, enabling the world to connect online with reliability and confidence, anytime, anywhere. The Company ensures the security, stability and resiliency of key Internet infrastructure including the .com and .net top-level domains among others. VeriSign also offers intelligence-driven security services.

Info Edge (India) Limited operates an online job posting website. The website offers services for recruiters, job seekers, and employers. The Company also operates  an online matrimonial website for prospective brides, grooms, and relatives.

Hithink RoyalFlush Information Network Co Ltd provides online financial data, data analysis software, and other financial software system.

Hithink RoyalFlush Information Network (300033 CH)

New Relic, Inc. provides cloud based application performance management solutions for cloud and data center applications. The Company offers a solution including real user, application, and availability monitoring features that enable developers and operations teams to manage web application performance in real-time. New Relic conducts its business in the United States.

Kakao Corp. provides Internet portal services such as news, free e-mail, and leisure information.  The Company also offers cross-platform mobile messaging application that allows users to exchange messages.

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Kakao Corp (035720 KS)

KRX Foreign Holding Weekly (May 31st): Sk Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Doosan Enerbility, Hd Hyundai Elect,...

Ke Yan, CFA, FRM

Shift Up IPO - Thoughts on Valuations - Bear/Base/Bull

Shift Up (462870 KS) plans to raise up to US$320m in its South Korean IPO. We have looked at its past performance earlier, in this note, we talk...

Sumeet Singh

Shift Up IPO - Peer Comparison - Small in Size but Ranks High on Growth and Margins

Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO. In this note, we undertake a peer comparison.

Sumeet Singh

KRX Foreign Holding Weekly (May 24th): Sk Hynix, Hyundai Motor, HHI, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Hyundai Motor, Hd Hyundai Heavy,...

Ke Yan, CFA, FRM

Shift Up IPO - The Negatives - Changing Monetisation Model, Censorship Issues

Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO. In this note, we talk about the not-so-positive aspects of the...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)