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

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, a few large Hong Kong IPOs are rumoured to be aiming to launch their bookbuild next week.</li>
<li>There was only the <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a> mega entitlement offer this week, on the placements front.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, a few large Hong Kong IPOs are rumoured to be aiming to launch their bookbuild next week.
There was only the Atlas Arteria (ALX AU) mega entitlement offer this week, on the placements front.


ECM Weekly (18th Sep 2022) - CALB, Onewo, Leapmotor, WCP, Biogene, Socionext, Prop Guru, PayMate

<ul>
<li>CALB aims to raise around US$1.5bn in its Hong Kong IPO.</li>
<li>CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.</li>
<li>In our previous note, we undertook a peer comparison. In this note, we will talk about valuations.</li>
</ul>


CALB aims to raise around US$1.5bn in its Hong Kong IPO.
CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.
In our previous note, we undertook a peer comparison. In this note, we will talk about valuations.


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/calb-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB (CALBLZ CH)</a>, a leading EV battery manufacturer, is seeking to raise US$2.0 billion through an HKEx IPO, according to press reports.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/calb-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:80243" rel="noopener">CALB IPO: The Bull Case</a> and <a href="https://www.smartkarma.com/insights/calb-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:80286" rel="noopener">CALB IPO: The Bear Case</a>. This note updates our view for the PHIP and recent developments.</li>
<li>The 1Q and truncated 1H numbers outline the highest growth among peers, customer diversification and sequential improvement in gross margin. The IPO is worth a look.</li>
</ul>



CALB (CALBLZ CH), a leading EV battery manufacturer, is seeking to raise US$2.0 billion through an HKEx IPO, according to press reports.
We previously discussed the IPO in CALB IPO: The Bull Case and CALB IPO: The Bear Case. This note updates our view for the PHIP and recent developments.
The 1Q and truncated 1H numbers outline the highest growth among peers, customer diversification and sequential improvement in gross margin. The IPO is worth a look.


<ul>
<li>CALB aims to raise around US$1.5bn in its Hong Kong IPO.</li>
<li>CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.</li>
<li>In this note, we undertake a peer comparison and talk about the company’s expansion plans.</li>
</ul>


CALB aims to raise around US$1.5bn in its Hong Kong IPO.
CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.
In this note, we undertake a peer comparison and talk about the company’s expansion plans.


CALB Pre-IPO - Peer Comparison - Top Growth, Bottom Margins, Fastest Expansion Plans

<ul>
<li>WCP aims to raise around US$690m via selling a mix of primary and secondary shares in its Korean IPO. Its demand forecasting is slated to take place today and tomorrow.</li>
<li>WCP designs, manufactures, and sells separators, which are one of the four core materials for secondary Lithium-ion batteries</li>
<li>In this note, we will talk about the updates from the revised filing, and re-look at valuations.</li>
</ul>


WCP aims to raise around US$690m via selling a mix of primary and secondary shares in its Korean IPO. Its demand forecasting is slated to take place today and tomorrow.
WCP designs, manufactures, and sells separators, which are one of the four core materials for secondary Lithium-ion batteries
In this note, we will talk about the updates from the revised filing, and re-look at valuations.


WCP IPO - 2Q22 Updates and Valuation Refresh

China

CALB Group Co., Ltd. manufactures and distributes battery products. The Company produces lithium ion power batteries, battery management systems, energy storage batteries, and other products. CALB Group supplies its products in vehicles, energy storage, and other fields.

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CALB Group (3931 HK)

ECM Weekly (18th Sep 2022) - CALB, Onewo, Leapmotor, WCP, Biogene, Socionext, Prop Guru, PayMate

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

CALB Pre-IPO - Thoughts on Valuation

CALB aims to raise around US$1.5bn in its Hong Kong IPO. In this note, we talk about our earnings forecast and valuations estimates.

Sumeet Singh

CALB IPO: Updates Support the Bull Case

The 1Q and truncated 1H numbers outline the highest growth among peers, customer diversification and sequential improvement in gross margin. The...

Arun George

CALB Pre-IPO - Peer Comparison - Top Growth, Bottom Margins, Fastest Expansion Plans

CALB aims to raise around US$1.5bn in its Hong Kong IPO. In this note, we undertake a peer comparison and look at the company's expansion plans.

Sumeet Singh

WCP IPO - 2Q22 Updates and Valuation Refresh

WCP aims to raise around US$690m via selling a mix of primary and secondary shares in its Korean IPO. In this note, we talk about its 2Q22 updates...

Sumeet Singh

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