Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Vishal Mega Mart / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vishal-mega-mart" target="_blank" data-smartkarma-citation="entities:44041:1" rel="noopener">Vishal Mega Mart</a> is planning to raise around US$950m through its upcoming IPO in India.</li>
<li>Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Vishal Mega Mart is planning to raise around US$950m through its upcoming IPO in India.
Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India
In this note, we talk about the positive aspects of the deal.


Vishal Mega Mart Pre-IPO - The Positives - One-Stop Shop

Mao Geping Cosmetics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mao-geping-cosmetics-co-ltd" target="_blank" data-smartkarma-citation="entities:41297:1" rel="noopener">Mao Geping Cosmetics</a> is looking to raise up to US$270m in its upcoming Hong Kong IPO.</li>
<li>Mao Geping Cosmetics (MGC) operates in the premium beauty segment. Operating via its two brands, MAOGEPING and Love Keeps, MGC offers a wide range of color cosmetics and skincare products.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



Mao Geping Cosmetics is looking to raise up to US$270m in its upcoming Hong Kong IPO.
Mao Geping Cosmetics (MGC) operates in the premium beauty segment. Operating via its two brands, MAOGEPING and Love Keeps, MGC offers a wide range of color cosmetics and skincare products.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Mao Geping Cosmetics IPO - Low to Mid-End Looks Reasonable

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>BEKE US: Property Transactions Remained Strong in November, with Accelerated Growth in the Final Week.(+)</li>
<li>BZ US/3690 HK/TCOM US/ATAT US: Manufacturing PMI Slightly Exceeds Consensus in November, While Service PMI Falls Below; Hiring Intentions Remain Low.(-/-/-/-)</li>
<li>ZTO US/ BABA US/VIPS US: China parcel volume delivery grew 40% yoy in the prior week (+/+/+)</li>
</ul>


BEKE US: Property Transactions Remained Strong in November, with Accelerated Growth in the Final Week.(+)
BZ US/3690 HK/TCOM US/ATAT US: Manufacturing PMI Slightly Exceeds Consensus in November, While Service PMI Falls Below; Hiring Intentions Remain Low.(-/-/-/-)
ZTO US/ BABA US/VIPS US: China parcel volume delivery grew 40% yoy in the prior week (+/+/+)


[Blue Lotus Daily]:BEKE US/BZ US/3690 HK/TCOM US/ATAT US/ZTO US/ BABA US/VIPS US

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure Power, Adani Green Energy, Meituan</li>
<li>In the US, treasuries climbed in a holiday-shortened session on Friday, with yields falling 8-10 bps across the curve. The yield on the 2Y UST dropped 8 bps to 4.15%, while that on the 10Y UST declined 10 bps to 4.17%.</li>
<li>Equities rallied, with the S&amp;P 500 rising 0.6% to a new record high of 6,032.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure Power, Adani Green Energy, Meituan
In the US, treasuries climbed in a holiday-shortened session on Friday, with yields falling 8-10 bps across the curve. The yield on the 2Y UST dropped 8 bps to 4.15%, while that on the 10Y UST declined 10 bps to 4.17%.
Equities rallied, with the S&amp;P 500 rising 0.6% to a new record high of 6,032.


Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<ul>
<li>Hong Kong market breadth stays strong despite market pullback in November.  Mainland investors continue to increase exposure to HK market through Southbound Connect platform.</li>
<li>
<a href="https://www.smartkarma.com/entities/baidu-inc-a55ca720-5968-48f0-8194-ac94390d065c" target="_blank" data-smartkarma-citation="entities:32212:1" rel="noopener">Baidu (9888 HK)</a> , <a href="https://www.smartkarma.com/entities/baidu-inc" target="_blank" data-smartkarma-citation="entities:179:1" rel="noopener">Baidu (BIDU US)</a> , the global leader in Robotaxis, was granted a license to start operating its autonomous cars in Hong Kong.
</li>
<li>
<a href="https://www.smartkarma.com/entities/vitasoy-intl-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2807:1" rel="noopener">Vitasoy Intl Holdings (345 HK)</a> shares surged on takeover rumours after <a href="https://www.smartkarma.com/entities/yeo-hiap-seng-ltd" target="_blank" data-smartkarma-citation="entities:9051:1" rel="noopener">Yeo Hiap Seng (YHS SP)</a> increased its stake to more than 12% allowing them to call a Board meeting.
</li>
</ul>


Hong Kong market breadth stays strong despite market pullback in November.  Mainland investors continue to increase exposure to HK market through Southbound Connect platform.

Baidu (9888 HK) , Baidu (BIDU US) , the global leader in Robotaxis, was granted a license to start operating its autonomous cars in Hong Kong.


Vitasoy Intl Holdings (345 HK) shares surged on takeover rumours after Yeo Hiap Seng (YHS SP) increased its stake to more than 12% allowing them to call a Board meeting.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (December 2)

China

Meituan operates as a web based shopping platform for locally found consumer products and retail services. The Company offers deals of the day by selling vouchers on local services and entertainment, dining, delivery, and other services. Meituan provides its services throughout China.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Meituan (3690 HK)

Vishal Mega Mart Pre-IPO - The Positives - One-Stop Shop

Vishal Mega Mart is planning to raise around US$950m through its upcoming IPO in India. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Mao Geping Cosmetics IPO - Low to Mid-End Looks Reasonable

Mao Geping Cosmetics is looking to raise up to US$270m in its upcoming Hong Kong IPO. In this note, we take a quick look at valuations.

Sumeet Singh

[Blue Lotus Daily]:BEKE US/BZ US/3690 HK/TCOM US/ATAT US/ZTO US/ BABA US/VIPS US

Property transactions in the US remained strong in November, with accelerated growth in the final week. Manufacturing PMI slightly exceeds...

Blue Lotus Research Institute

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure...

Lucror Analytics

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (December 2)

Hong Kong market breadth is high as mainland investors continue buy HK shares. Baidu, the largest Robotaxi operator was granted license to operate...

David Mudd

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Vishal Mega Mart Pre-IPO - The Positives - One-Stop Shop

Vishal Mega Mart is planning to raise around US$950m through its upcoming IPO in India. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Mao Geping Cosmetics IPO - Low to Mid-End Looks Reasonable

Mao Geping Cosmetics is looking to raise up to US$270m in its upcoming Hong Kong IPO. In this note, we take a quick look at valuations.

Sumeet Singh

[Blue Lotus Daily]:BEKE US/BZ US/3690 HK/TCOM US/ATAT US/ZTO US/ BABA US/VIPS US

​Property transactions in the US remained strong in November, with accelerated growth in the final week. Manufacturing PMI slightly exceeds...

Blue Lotus Research Institute

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, Indofood CBP, Azure...

Lucror Analytics

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (December 2)

Hong Kong market breadth is high as mainland investors continue buy HK shares. Baidu, the largest Robotaxi operator was granted license to operate...

David Mudd

Property transactions in the US remained strong in November, with accelerated growth in the final week. Manufacturing PMI slightly exceeds...