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

Nexus Select Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nexus-select-trust" target="_blank" data-smartkarma-citation="entities:36566:1" rel="noopener">Nexus Select Trust (NST IN)</a> is looking to raise around US$391m in its upcoming India IPO.</li>
<li>NST is a REIT with a portfolio of 17 Grade A urban consumption centers. It is backed by Blackstone.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we talk about implied valuations in the IPO price range.</li>
</ul>



Nexus Select Trust (NST IN) is looking to raise around US$391m in its upcoming India IPO.
NST is a REIT with a portfolio of 17 Grade A urban consumption centers. It is backed by Blackstone.
In our earlier notes, we have looked at the company’s past performance. In this note, we talk about implied valuations in the IPO price range.


Nexus Select Trust IPO - Strong 9M23, Just About Digestible Pricing

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Apr 21st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Galaxy Ent, Baba, East Buy, Anta Sports, Zijin Mining, Li Auto.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Apr 21st.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Galaxy Ent, Baba, East Buy, Anta Sports, Zijin Mining, Li Auto.


HK Short Interest Weekly: Galaxy Ent, Baba, East Buy, Anta Sports, Zijin Mining, Li Auto

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Apr 14th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Li Auto, Wuxi Bio, Baba, Tencent, Sensetime.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Apr 14th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Li Auto, Wuxi Bio, Baba, Tencent, Sensetime.


HK Short Interest Weekly: Li Auto, Wuxi Bio, Baba, Tencent, Sensetime

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Mar 31st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Jd, Petrochina, Kingsoft, Link Reit, Bidu.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Mar 31st.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Jd, Petrochina, Kingsoft, Link Reit, Bidu.


HK Short Interest Weekly: Jd, Petrochina, Kingsoft, Link Reit, Bidu

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>Total short interest in Hong Kong is HK$435.1bn, marginally higher from end-December. Short notional has moved in line with the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hong Kong Hang Seng Index (HSI INDEX)</a>. </li>
<li>Total short notional of the KOSPI and KOSDAQ market has moved up since end-December and is in line with the move higher in the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200-index" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI2 INDEX</a> and <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a>.</li>
<li>Short notional in Taiwan is lower over the quarter even as the <a href="https://www.smartkarma.com/entities/taiwan-stock-exchange-weighted-index" target="_blank" data-smartkarma-citation="entities:26056:1" rel="noopener">TWSE INDEX</a> has moved higher over the period. There has been big short covering on some stocks.</li>
</ul>


Total short interest in Hong Kong is HK$435.1bn, marginally higher from end-December. Short notional has moved in line with the Hong Kong Hang Seng Index (HSI INDEX). 
Total short notional of the KOSPI and KOSDAQ market has moved up since end-December and is in line with the move higher in the KOSPI2 INDEX and KOSDAQ 150 Index.
Short notional in Taiwan is lower over the quarter even as the TWSE INDEX has moved higher over the period. There has been big short covering on some stocks.


Short Interest Movements (Q1 2023): HK, Korea, Taiwan, Australia

Hong Kong

Link REIT is a real estate investment trust in Hong Kong. The Trust owns and operates shopping centers, parking space facilities and real estate retail space.

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Link REIT (823 HK)

Nexus Select Trust IPO - Strong 9M23, Just About Digestible Pricing

Nexus Select Trust (NST IN) is looking to raise around US$391m in its upcoming India IPO. In this note, we talk about the recent updates and the...

Sumeet Singh

HK Short Interest Weekly: Galaxy Ent, Baba, East Buy, Anta Sports, Zijin Mining, Li Auto

We analyzed the latest HK SFC report for aggregate short position as of Apr 21st and highlight short interest changes in Galaxy Ent, Baba, East...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Li Auto, Wuxi Bio, Baba, Tencent, Sensetime

We analyzed the latest HK SFC report for aggregate short position as of Apr 14th and highlight short interest changes in Li Auto, Wuxi Bio, Baba,...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Jd, Petrochina, Kingsoft, Link Reit, Bidu

We analyzed the latest HK SFC report for aggregate short position as of Mar 31st and highlight short interest changes in Jd, Petrochina, Kingsoft,...

Ke Yan, CFA, FRM

Short Interest Movements (Q1 2023): HK, Korea, Taiwan, Australia

The Insight looks at movements in short interest across HK, Korea, Taiwan and Australia stocks over Q1 and highlights large increases/decreases in...

Brian Freitas

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52-week Range

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