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

ong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 18.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Ck Asset Holdings Limited (1113 HK) (HKD 163.4 million worth of buybacks), Ck Hutchison Holdings Limited (1 HK) (HKD 158.6 million worth of buybacks), Razer (1337 HK) (HKD 40.6 million worth of buybacks).

ong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 18.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Ck Asset Holdings Limited (1113 HK) (HKD 163.4 million worth of buybacks), Ck Hutchison Holdings Limited (1 HK) (HKD 158.6 million worth of buybacks), Razer (1337 HK) (HKD 40.6 million worth of buybacks).

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 14.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited-100 (754 HK) (HKD 92.3 million worth of buybacks), Razer (1337 HK) (HKD 82.9 million worth of buybacks), Want Want China Holdings Limited (151 HK) (HKD 41.1 million worth of buybacks).

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 14.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited-100 (754 HK) (HKD 92.3 million worth of buybacks), Razer (1337 HK) (HKD 82.9 million worth of buybacks), Want Want China Holdings Limited (151 HK) (HKD 41.1 million worth of buybacks).

Hong Kong Buybacks: Hopson, Razer, Want Want

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 07.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited (754 HK) (HKD 114.4 million worth of buybacks), Haier Smart Home Co., Ltd. (6690 HK) (HKD 56.0 million worth of buybacks), Razer (1337 HK) (HKD 51.2 million worth of buybacks).

Hong Kong Exchange publishes share repurchases by listed companies on a daily basis. In our weekly note, we will provide statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 07.In the past 7 days, the top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited (754 HK) (HKD 114.4 million worth of buybacks), Haier Smart Home Co., Ltd. (6690 HK) (HKD 56.0 million worth of buybacks), Razer (1337 HK) (HKD 51.2 million worth of buybacks).

Hong Kong Buybacks: Hopson, Haier Smart Home, Razer

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer Inc (1337 HK)</a> designs and builds a gamer-focused ecosystem of hardware, software, and services. It offers gaming peripherals and hardware, as well as virtual game payments (Razer Gold) and offline-to-online digital payment networks (Razer Fintech). <div class="content-highlight">Overall, we think the 2020 results underscored Razer’s transformation into a company that under-promises and over-delivers. The 2020 results delivered a consensus revenue and profit beat along with strong cash generation and a chunky net cash position. Looking ahead, we think that consensus remains cautious. An attractive valuation and ongoing share buyback programme lend support to the share price. Overall, we think that the shares are worth a closer look. </div>

Razer Inc (1337 HK) designs and builds a gamer-focused ecosystem of hardware, software, and services. It offers gaming peripherals and hardware, as well as virtual game payments (Razer Gold) and offline-to-online digital payment networks (Razer Fintech). Overall, we think the 2020 results underscored Razer’s transformation into a company that under-promises and over-delivers. The 2020 results delivered a consensus revenue and profit beat along with strong cash generation and a chunky net cash position. Looking ahead, we think that consensus remains cautious. An attractive valuation and ongoing share buyback programme lend support to the share price. Overall, we think that the shares are worth a closer look. 

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Event-Driven

On 13th Apr 2021, <a href="https://www.smartkarma.com/entities/grabtaxi-holdings-pte-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab (0967655D SP)</a> announced that it plans to go public in the US in partnership with Altimeter Growth Corp (AGC US) at an equity valuation of US$39.6bn. It will raise around US$4.5bn cash through the transaction. In this note, I'll take a quick look at the numbers and implied valuations.

On 13th Apr 2021, Grab (0967655D SP) announced that it plans to go public in the US in partnership with Altimeter Growth Corp (AGC US) at an equity valuation of US$39.6bn. It will raise around US$4.5bn cash through the transaction. In this note, I'll take a quick look at the numbers and implied valuations.

Grab SPAC Listing - High on Ambition, Very High on Valuation

United States

Razer Inc. is a global lifestyle brand for gamers. The Company offers an integrated gamer-focused ecosystem of hardware, software and services. Razer's hardware ranges from gaming peripherals to gaming laptops and mobile devices. Razer's software platform includes Razer Synapse, Razer Chroma, and Razer Cortex. Razer also offers Razer Gold, a virtual credit services for gamers.

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Razer Inc (1337 HK)

Hong Kong Buybacks: CKA & CKH, Razer

We highlight the top 3 companies that repurchased the most shares from the market were CK Asset (1113 HK), CK Hutchison Holdings Limited (1 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks: Hopson, Razer, Want Want

In the past 7 days, the top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited (754 HK), Razer...

Ke Yan, CFA, FRM

Hong Kong Buybacks: Hopson, Haier Smart Home, Razer

The top 3 companies that repurchased the most shares from the market were Hopson Development Holdings Limited (754 HK), Haier Smart Home Co., Ltd....

Ke Yan, CFA, FRM

Razer: Play On

We think that consensus remains cautious. An attractive valuation and ongoing share buyback programme lend support to the share price. Overall, we...

Arun George

Grab SPAC Listing - High on Ambition, Very High on Valuation

On 13th Apr 2021, Grab announced that it plans to go public in the US in partnership with Altimeter Growth Corp at an equity valuation of...

Sumeet Singh

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