APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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>
<a href="https://www.smartkarma.com/entities/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> is looking to raise US$239m in its Malaysia IPO.</li>
<li>While not exactly the cheapest per se, including Nestle Malaysia, were the firm to trade towards its domestic peer’s simple average, there is an upside potential of 26%-33.3%. </li>
<li>In this note, we will look at peers, assumptions, and share our thoughts on valuation.</li>
</ul>



Farm Fresh Berhad (FF MY) is looking to raise US$239m in its Malaysia IPO.
While not exactly the cheapest per se, including Nestle Malaysia, were the firm to trade towards its domestic peer’s simple average, there is an upside potential of 26%-33.3%. 
In this note, we will look at peers, assumptions, and share our thoughts on valuation.


Farm Fresh IPO - Not the Cheapest but Could Be Worth the Price

<ul>
<li>
<a href="https://www.smartkarma.com/entities/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> is looking to raise US$240m in its upcoming Malaysia IPO.</li>
<li>Farm Fresh Berhad is a dairy group that covers the entire value chain, from farming and manufacturing to distributing its various dairy products and plant-based products. </li>
<li>Farm Fresh’s extensive distribution network and  stockist/dealer channel has led to growing sales volume, which had in turn led to explosive revenue growth over the track period.</li>
</ul>



Farm Fresh Berhad (FF MY) is looking to raise US$240m in its upcoming Malaysia IPO.
Farm Fresh Berhad is a dairy group that covers the entire value chain, from farming and manufacturing to distributing its various dairy products and plant-based products. 
Farm Fresh’s extensive distribution network and  stockist/dealer channel has led to growing sales volume, which had in turn led to explosive revenue growth over the track period.


Farm Fresh Pre-IPO - Distribution Model Has Led to Strong Growth

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Cisarua Mountain Dairy / Equity Bottom-Up

<p>Premium valuation justified by the premium profitability and strong earnings growth trajectory</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Premium valuation justified by the premium profitability and strong earnings growth trajectoryContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cisarua Mountain Dairy (CMRY IJ) - Premium valuation justified by the premium profitability and ...

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

LG Energy Solution / Equity Capital Markets

<ul>
<li>2021 marked our sixth year covering Equity Capital Markets (ECM) in Asia Pacific. </li>
<li>Most markets were in top gear on the ECM front and we ended the year covering the highest number of IPOs and the second highest number of placements since inception.</li>
<li>For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.</li>
</ul>


2021 marked our sixth year covering Equity Capital Markets (ECM) in Asia Pacific. 
Most markets were in top gear on the ECM front and we ended the year covering the highest number of IPOs and the second highest number of placements since inception.
For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.


Aequitas 2021 IPOs and Placements Performance Review - Busiest Year on Record

<ul>
<li>We take a look at the Asia Pacific IPO pipeline for 2022. This list has been compiled on a best effort basis from tracking company filings and other sources.</li>
<li>For readers who aren't familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific (ex A-shares), including China ADRs. </li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


We take a look at the Asia Pacific IPO pipeline for 2022. This list has been compiled on a best effort basis from tracking company filings and other sources.
For readers who aren't familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific (ex A-shares), including China ADRs. 
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Indonesia

PT Cisarua Mountain Dairy TBK produces diary products. The Company offers milk and yogurt. Cisarua Mountain Dairy serves customer in Indonesia.

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Cisarua Mountain Dairy (CMRY IJ)

Farm Fresh IPO - Not the Cheapest but Could Be Worth the Price

Farm Fresh Berhad (FF MY) is looking to raise US$239m in its Malaysia IPO. In this note, we will look at peers, assumptions, and share our thoughts...

Clarence Chu

Farm Fresh Pre-IPO - Distribution Model Has Led to Strong Growth

Farm Fresh Berhad (FF MY) is looking to raise US$240m in its upcoming Malaysia IPO. The dairy group covers the entire value chain and has a total...

Clarence Chu