Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

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Equity Capital Markets

China Everbright Greentech / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/24085" target="_blank" data-smartkarma-citation="entities:24085:1">China Everbright Greentech (1257 HK)</a> plans to raise up to US$425m in its initial public offering. I had earlier written an insight (<a href="https://www.smartkarma.com/insights/china-everbright-greentech-ipo-discounting-for-biomass-energy-risks" target="_blank" data-smartkarma-citation="insights:9953">China Everbright Greentech IPO: Discounting for Biomass Energy Risks</a>) to look at fundamentals of the company and highlight risks associated with its biomass business. In this insight, I will discuss its accounting for non-cash income, change of book runners, valuation based on the pricing and score the deal on our Smartkarma ECM Framework. </p><hr><div>
<h2>Deal and framework score</h2>…</div>

China Everbright Greentech (1257 HK) plans to raise up to US$425m in its initial public offering. I had earlier written an insight (China Everbright Greentech IPO: Discounting for Biomass Energy Risks) to look at fundamentals of the company and highlight risks associated with its biomass business. In this insight, I will discuss its accounting for non-cash income, change of book runners, valuation based on the pricing and score the deal on our Smartkarma ECM Framework. 
Deal and framework score…

China Everbright Greentech IPO: Beware of GS' Pull-Out; Reminiscence of Datang Env?

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.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 116.7% as of Sep 15th.</li>
<li>The average A-H premium changed by 2.3ppt week on week, led by energy, real estate, industrials and offset by communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Postal Savings, Sinopec Corp, Shanghai Fudan, Sinopec Oilfield, Remegen Co Ltd.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 116.7% as of Sep 15th.
The average A-H premium changed by 2.3ppt week on week, led by energy, real estate, industrials and offset by communication services, information technology.
We highlight weekly changes in A-H premium for Postal Savings, Sinopec Corp, Shanghai Fudan, Sinopec Oilfield, Remegen Co Ltd.


A-H Premium Weekly (Sep 15th): Postal Savings, Sinopec Corp, Shanghai Fudan, Sinopec Oilfield

China

Dongjiang Environmental Company Ltd. treats industrial and municipal waste and provides value-added support services. The Company markets copper sulfate, copper oxychloride, copper oxide, and copper to industrial customers throughout China and the Asia=Pacific region.

Price Gauge
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Dongjiang Environmental (002672 CH)

China Everbright Greentech IPO: Beware of GS' Pull-Out; Reminiscence of Datang Env?

China Everbright Greentech (1257 HK) plans to raise up to US$425m in its initial public offering. I had earlier written an insight (China...

Ke Yan, CFA, FRM

A-H Premium Weekly (Sep 15th): Postal Savings, Sinopec Corp, Shanghai Fudan, Sinopec Oilfield

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Postal Savings, Sinopec Corp, Shanghai Fudan, Sinopec...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)