ECM Weekly (6th August 2023) - Concord Biotech, SBFC Fin, Fadu, Mitsui Fudosan, Capitaland Ascott
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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Fadu IPO Trading - Strong Subscription Rates Compared to Recent Korean IPOs
Fadu (440110 KS) raised US$151m in its Korean IPO. In this note, we will talk about the demand for the deal and other trading dynamics.
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[Blue Lotus Multi-Platform Sector Update]: ByteDance Forecasts and Implications for China Internet
We estimate that ByteDance's domestic ad revenue/eCommerce GMV/local lifestyle GTV will grow by 17%/50%/134% this year. We prefer Tencent, iQiyi,...
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China TMT Update-XPEV/3690HK/241HK/6618HK-Volkswagen Cooperation;Crackdown on Healthcare Corruption
XPEV: Xpeng and Volkswagen cooperation updates(/);3690.HK: NDRC adds guidelines for restoring consumption(+);241HK/6618HK：Central Discipline...
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Emerging Market Funds: Top-Down Positioning and Fund Flows Update
Asia underweight funds LATAM overweight. Asia’s ‘big 4’, account for 64% of the average fund. MENA region suffers from a lack of ownership, Tech...
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