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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

Hang Seng China Enterprises Index / Event-Driven

<ul>
<li>With the 2021 futures expiring in 2 weeks, the focus now shifts to the HSCEI dividend futures expiring in 2022 where we see a fair value of 240.76 DIPS.</li>
<li>The current market is trading very close to our fair value for 2022 but there are a lot of potential catalysts that could result in a big move lower.</li>
<li>There are fewer catalysts for the 2022 futures to move higher. The regulatory changes in China plus the HFCAA could lead to the 2023 futures trading cheaper to 2022.</li>
</ul>


With the 2021 futures expiring in 2 weeks, the focus now shifts to the HSCEI dividend futures expiring in 2022 where we see a fair value of 240.76 DIPS.
The current market is trading very close to our fair value for 2022 but there are a lot of potential catalysts that could result in a big move lower.
There are fewer catalysts for the 2022 futures to move higher. The regulatory changes in China plus the HFCAA could lead to the 2023 futures trading cheaper to 2022.


HSCEI Dividend Futures: 2022 Close to Fair; Sell 22/23 Steepener

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>This is our third annual edition of the<strong> IPOs Pipeline Worldwide (Top 100 Companies)</strong> report.</li>
<li>2021 has been a mammoth year for the global IPO market and the pipeline of the global IPOs remains strong in 2022, although not as robust as in 2019-2021 period.</li>
<li>
<strong>India</strong> really stands out as having the best-ever pipeline for mega IPOs in 2022. </li>
</ul>


This is our third annual edition of the IPOs Pipeline Worldwide (Top 100 Companies) report.
2021 has been a mammoth year for the global IPO market and the pipeline of the global IPOs remains strong in 2022, although not as robust as in 2019-2021 period.

India really stands out as having the best-ever pipeline for mega IPOs in 2022. 


2022 IPOs Pipeline Worldwide (Top 100 Companies)

Research from EqualOcean, EqualOcean

EqualOcean

Research from EqualOcean

EqualOcean is an investment research firm and information service provider focusing on China's Technology, Automotive and Consumer Internet sectors. With unique research and due diligence methodology, we provide tailored insights into a wide range of industries and companies, empowering our clients' value-added decisions.

Founded in 2014, EqualOcean is headquartered in Beijing and has offices in Shanghai, Shenzhen and New York.

Equity Bottom-Up

<ul><li>ByteDance's ambition in healthcare - According to EqualOcean data, ByteDance has invested in 56 companies in 2021 only</li><li>Expanding in adjacent fields - It is generally easier to invest in areas that are more compatible with a company's core businesses.</li><li>Still, a long way to go - Online healthcare is a domain full of risks. </li></ul>

ByteDance's ambition in healthcare - According to EqualOcean data, ByteDance has invested in 56 companies in 2021 onlyExpanding in adjacent fields - It is generally easier to invest in areas that are more compatible with a company's core businesses.Still, a long way to go - Online healthcare is a domain full of risks. 

A Late Starter, ByteDance Begins to Accelerate Its Effort in Healthcare

Thematic (Sector/Industry)

<ul><li>The online networking application is favored by high-profile investors for its traffic, not for its fairy tales.</li><li>Metaverse: strong investment momentum in 2021 - The term 'metaverse' first emerged 29 years ago from the science fiction novel 'Snow Crash' by Neal Stephenson.</li><li>Soul app: only a 'skin' of a metaverse - Soul app went online in November 2016.</li></ul>

The online networking application is favored by high-profile investors for its traffic, not for its fairy tales.Metaverse: strong investment momentum in 2021 - The term 'metaverse' first emerged 29 years ago from the science fiction novel 'Snow Crash' by Neal Stephenson.Soul app: only a 'skin' of a metaverse - Soul app went online in November 2016.

Tencent-Backed Soul App Foreshadows Wave of Fake Metaverse Startups in China

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.

<ul>
<li>Weibo plans to raise around US$500-700m in its secondary listing in Hong Kong. </li>
<li>The company won listing approval and filed its PHIP on last week and will look to launch its secondary offering soon.</li>
<li>In this note, we’ll take a look at the deal and talk about the impact of the raising.</li>
</ul>


Weibo plans to raise around US$500-700m in its secondary listing in Hong Kong. 
The company won listing approval and filed its PHIP on last week and will look to launch its secondary offering soon.
In this note, we’ll take a look at the deal and talk about the impact of the raising.


Weibo Secondary Listing - Needs to Come at a Discount

China

Beijing Douyin Information Service Co. Ltd. provides online information and contents. The Company develops and operates short video platform, original short video community, news platform, and other related products. Beijing Douyin Information Service offers services worldwide.

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ByteDance (1439927D CH)

HSCEI Dividend Futures: 2022 Close to Fair; Sell 22/23 Steepener

The HSCEI 2022 dividend futures are trading close to fair but there are a lot more negative catalysts that will have a bigger impact than positive...

Brian Freitas

2022 IPOs Pipeline Worldwide (Top 100 Companies)

This is our third annual edition of the IPOs Pipeline Worldwide (Top 100 Companies) report. 2021 has been a mammoth year for the global IPO market....

Douglas Kim

A Late Starter, ByteDance Begins to Accelerate Its Effort in Healthcare

The Chinese upstart behind TikTok has emerged into a major venture capital investor. Online healthcare (or telehealth) has been in the spotlight in...

EqualOcean

Tencent-Backed Soul App Foreshadows Wave of Fake Metaverse Startups in China

The online networking application is favored by high-profile investors for its traffic, not for its fairy tales. Soul is a networking app operating...

EqualOcean

Weibo Secondary Listing - Needs to Come at a Discount

Weibo plans to raise around US$500-700m in its secondary listing in Hong Kong. In this note, we talk about the deal and its impact.

Sumeet Singh

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