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/link-reit" target="_blank" data-smartkarma-citation="entities:872:1" rel="noopener">Link REIT (823 HK)</a> (LREIT) aims to undertake a 1 for 5 rights issue at a subscription price of HK$44.20/unit, to raise around US$2.4bn.</li>
<li>After announcing a S$2.2bn acquisition in late Dec 2022, the company explicitly mentioned that it didn’t need to raise any new capital. Thus, the rights issue marks an abrupt turnaround.</li>
<li>In this note, we talk about the right issue, its previous acquisition and the overall implications.</li>
</ul>



Link REIT (823 HK) (LREIT) aims to undertake a 1 for 5 rights issue at a subscription price of HK$44.20/unit, to raise around US$2.4bn.
After announcing a S$2.2bn acquisition in late Dec 2022, the company explicitly mentioned that it didn’t need to raise any new capital. Thus, the rights issue marks an abrupt turnaround.
In this note, we talk about the right issue, its previous acquisition and the overall implications.


Link REIT US$2.4bn Rights Issue - Mistimed but Yield at the Rights Price Might Be the Saving Grace

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

Railway /: <a href="https://www.caixinglobal.com/2022-12-15/in-depth-how-china-helped-build-indonesias-high-speed-rail-101978504.html" target="_blank" rel="noopener">In Depth: How China helped build Indonesia’s high-speed rail</a>
Covid-19 /: China’s demand for Pfizer’s Paxlovid skyrockets, but supplies are limited
IPOs /Chart of the Day: Chinese bourses top IPO league tables

Railway /: In Depth: How China helped build Indonesia’s high-speed rail
Covid-19 /: China’s demand for Pfizer’s Paxlovid skyrockets, but supplies are limited
IPOs /Chart of the Day: Chinese bourses top IPO league tables

CX Daily: How China Helped Build Indonesia’s High-Speed Rail

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onewo Space-Tech (ONEWO HK)</a> aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by <a href="https://www.smartkarma.com/entities/china-vanke-co-ltd-h" target="_blank" data-smartkarma-citation="entities:18368:1" rel="noopener">China Vanke (2202 HK)</a>. </li>
<li>As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.</li>
<li>In this note, we provide our earnings estimates and thoughts on valuation.</li>
</ul>



Onewo Space-Tech (ONEWO HK) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke (2202 HK). 
As per Frost &amp; Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
In this note, we provide our earnings estimates and thoughts on valuation.


Onewo Space-Tech Pre-IPO - Thoughts on Valuation

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>AMTD Digital is the biggest bubble of 2022, which is ready to pop. AMTD Digital provides digital solutions platform in Asia.</li>
<li>AMTD Digital currently has a market cap of US$371 billion (US$2,002 per ADS share) (as of 1:40PM NYC time). The company's market cap is more than JPMorgan Chase &amp; Co.</li>
<li>No doubt, AMTD Digital is the biggest bubble in 2022 and the bursting of this huge bubble will also devastate (mostly) retail investors in the US. </li>
</ul>


AMTD Digital is the biggest bubble of 2022, which is ready to pop. AMTD Digital provides digital solutions platform in Asia.
AMTD Digital currently has a market cap of US$371 billion (US$2,002 per ADS share) (as of 1:40PM NYC time). The company's market cap is more than JPMorgan Chase &amp; Co.
No doubt, AMTD Digital is the biggest bubble in 2022 and the bursting of this huge bubble will also devastate (mostly) retail investors in the US. 


Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Hutchison Telecommunications Hong Kong Holdings / Event-Driven

Hutchison Telecommunications Hong Kong Holdings

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hutchison-telecomm-hong-kong" target="_blank" data-smartkarma-citation="entities:141:1" rel="noopener">Hutchison Telecommunications (215 HK)</a>'s share price is up 33% month to date.</li>
<li>The average volume in June has been 11.9mn shares per day, compared to 3.8mn shares on average over the past year, and 3mn in the past six months. </li>
<li>Of interest, Southbound buying has accelerated in the last two weeks, with a holding of 0.76% of shares out, up from 0.11% at the beginning of the month. </li>
</ul>



Hutchison Telecommunications (215 HK)'s share price is up 33% month to date.
The average volume in June has been 11.9mn shares per day, compared to 3.8mn shares on average over the past year, and 3mn in the past six months. 
Of interest, Southbound buying has accelerated in the last two weeks, with a holding of 0.76% of shares out, up from 0.11% at the beginning of the month. 


Hong Kong

CK Hutchison Holdings Limited holds all of the non-property businesses of the Cheung Kong Group and the Hutchison Group, including ports and related services, telecommunications, retail, infrastructure, energy, and movable assets leasing operations.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

CK Hutchison Holdings (1 HK)

Link REIT US$2.4bn Rights Issue - Mistimed but Yield at the Rights Price Might Be the Saving Grace

Link REIT (823 HK) (LREIT) aims to undertake a 1 for 5 rights issue at a subscription price of HK$44.20/unit, to raise around US$2.4bn. In this...

Sumeet Singh

CX Daily: How China Helped Build Indonesia’s High-Speed Rail

How China helped build Indonesia’s high-speed rail. China’s Demand for Pfizer’s Paxlovid Skyrockets, but Supplies Are Limited. Chinese bourses top...

Caixin Global

Onewo Space-Tech Pre-IPO - Thoughts on Valuation

Onewo Space-Tech aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke. In...

Sumeet Singh

AMTD Digital: The Biggest Bubble in 2022

AMTD Digital is the biggest bubble of 2022, which is ready to pop. AMTD Digital provides digital solutions platform in Asia.

Douglas Kim

Hutch Tel (215 HK): Something's Brewing

Hutch Tel appears to be in play. And Hong Kong has had a tendency for news leakage ahead of events. Even after the recent run-up, Hutch Tel does...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)