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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> raised around US$4.6bn in its H-share listing (including over-allocation), after the deal was upsized.</li>
<li>Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.</li>
<li>We have covered the deal background in our previous notes. In this note, we talk about the trading dynamics.</li>
</ul>



Midea Group Co Ltd A (000333 CH) raised around US$4.6bn in its H-share listing (including over-allocation), after the deal was upsized.
Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
We have covered the deal background in our previous notes. In this note, we talk about the trading dynamics.


Midea A/H Listing - Strong Demand for Quality Asset, Index Flows Could Help in the near Term

Equity Capital Markets

Midea Group Co Ltd A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> aims to raise up to US$3.5bn in its H-share listing, the deal is somewhat larger than what was being spoken about earlier.</li>
<li>Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.</li>
<li>We have covered the deal background in our previous notes. In this note, we talk about valuations.</li>
</ul>



Midea Group Co Ltd A (000333 CH) aims to raise up to US$3.5bn in its H-share listing, the deal is somewhat larger than what was being spoken about earlier.
Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
We have covered the deal background in our previous notes. In this note, we talk about valuations.


Midea A/H Listing - Bigger Deal, Better Pricing

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> aims to raise up to US$3bn in its H-share listing, as per media reports.</li>
<li>Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.</li>
<li>We have covered the company and deal background in our previous notes. In this note, we talk about the past A/H listing and possible premiums.</li>
</ul>



Midea Group Co Ltd A (000333 CH) aims to raise up to US$3bn in its H-share listing, as per media reports.
Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
We have covered the company and deal background in our previous notes. In this note, we talk about the past A/H listing and possible premiums.


Midea A/H Listing - Thoughts on A/H Premium and past A/H Listings

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 Aug 23rd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tencent, Jd, Baba, Kuaishou, Tracker Fund, Ckh.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Aug 23rd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tencent, Jd, Baba, Kuaishou, Tracker Fund, Ckh.


HK Short Interest Weekly: Tencent, Jd, Baba, Kuaishou, Tracker Fund, Ckh

Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

China Resources Beer Holdings / Equity Bottom-Up

<ul>
<li>Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>With fewer young people and a growing number of older adults, the target market for alcoholic beverages is shrinking in many markets including China.</li>
<li>Upsides from vertical integration could give <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> a significant cost advantage over local competitors. Strong pricing power can allow it to decide whether to prioritize growth or margins.</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.
With fewer young people and a growing number of older adults, the target market for alcoholic beverages is shrinking in many markets including China.
Upsides from vertical integration could give Ola Electric (OLAELEC IN) a significant cost advantage over local competitors. Strong pricing power can allow it to decide whether to prioritize growth or margins.


Consumer Tales Aug Wk#4: Beer in China, Ola's Path to Profits, Kalyan Jewellers' Quiet Confidence

China

Budweiser Brewing Company APAC Limited is a company principally engaged in the brewing and distribution of beer. The Company produces, imports, markets, distributes over 50 brands including Budweiser, Stella Artois, Corona, Hoegaarden, Cass, and Harbin. The principal markets include China, South Korea, India and Vietnam.

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Budweiser Brewing APAC (1876 HK)

Midea A/H Listing - Strong Demand for Quality Asset, Index Flows Could Help in the near Term

Midea Group Co Ltd A (000333 CH) raised around US$4.6bn in its H-share listing (including over-allocation), after the deal was upsized. In this...

Sumeet Singh

Midea A/H Listing - Bigger Deal, Better Pricing

Midea Group Co Ltd A (000333 CH) aims to raise up to US$3.5bn in its H-share listing, the deal is somewhat larger than what was being spoken about...

Sumeet Singh

Midea A/H Listing - Thoughts on A/H Premium and past A/H Listings

Midea Group Co Ltd A (000333 CH) aims to raise up to US$3bn in its H-share listing, as per media reports. In this note, we talk about the likely A...

Sumeet Singh

HK Short Interest Weekly: Tencent, Jd, Baba, Kuaishou, Tracker Fund, Ckh

We analyzed the latest HK SFC report for aggregate short position as of Aug 23rd and highlight short interest changes in Tencent, Jd, Baba,...

Ke Yan, CFA, FRM

Consumer Tales Aug Wk#4: Beer in China, Ola's Path to Profits, Kalyan Jewellers' Quiet Confidence

Weekly update includes note on Beer in China, Ola Electric's path to profitability and Kalyan Jewellers decision to buy stake from Warburg Pincus

Devi Subhakesan

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