APAC IPOs & Placements

Zhen Zhou, Toh

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

E-Star Commercial Management / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/e-star-commercial-management" target="_blank" data-smartkarma-citation="entities:28878:1" rel="noopener">E-Star Commercial Management (ESCM HK)</a> is looking to raise US$150m in its upcoming Hong Kong IPO.</p></div><div>
<p>ESCM is a commercial operational service provider focused on the Greater Bay Area (mostly in Shenzhen) although it does have a national presence. The company is ranked first and third in terms of the number of shopping centers and GFA in operation in Shenzhen, respectively.</p>
<p>We have previously covered the company in:</p>
<ul><li dir="ltr"><p><a href="https://www.smartkarma.com/insights/e-star-commercial-management-pre-ipo-still-largely-reliant-on-galaxy-poor-disclosure-doesn-t-help" target="_blank" data-smartkarma-citation="insights:37017" rel="noopener">E-Star Commercial Management Pre-IPO - Still Largely Reliant on Galaxy, Poor Disclosure Doesn’t Help</a> </p></li></ul>
<p>In this note, we will look at updates from the re-filed application proof and share our thoughts on the company.</p>
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E-Star Commercial Management (ESCM HK) is looking to raise US$150m in its upcoming Hong Kong IPO.
ESCM is a commercial operational service provider focused on the Greater Bay Area (mostly in Shenzhen) although it does have a national presence. The company is ranked first and third in terms of the number of shopping centers and GFA in operation in Shenzhen, respectively.
We have previously covered the company in:
E-Star Commercial Management Pre-IPO - Still Largely Reliant on Galaxy, Poor Disclosure Doesn’t Help 
In this note, we will look at updates from the re-filed application proof and share our thoughts on the company.



E-Star Commercial Management Pre-IPO - Better Disclosure in New Prospectus

<p><a href="https://www.smartkarma.com/entities/e-star-commercial-management" target="_blank" data-smartkarma-citation="entities:28878:1" rel="noopener">E-Star Commercial Management (ESCM HK)</a> is looking to raise US$150m in its upcoming Hong Kong IPO.</p><p>ESCM is a commercial operational service provider focused on the Greater Bay Area (mostly in Shenzhen) although it does have a national presence. The company is ranked first and third in terms of the number of shopping centers and GFA in operation in Shenzhen, respectively.</p><p>The company has good long-term commercial properties under management (average of about 15 years). About half of the contracted GFA that has yet to commence operation and fully contribute to revenue. It will start between 2020 to 2023 which will drive revenue growth</p>

E-Star Commercial Management (ESCM HK) is looking to raise US$150m in its upcoming Hong Kong IPO.ESCM is a commercial operational service provider focused on the Greater Bay Area (mostly in Shenzhen) although it does have a national presence. The company is ranked first and third in terms of the number of shopping centers and GFA in operation in Shenzhen, respectively.The company has good long-term commercial properties under management (average of about 15 years). About half of the contracted GFA that has yet to commence operation and fully contribute to revenue. It will start between 2020 to 2023 which will drive revenue growth

E-Star Commercial Management Pre-IPO - Still Largely Reliant on Galaxy, Poor Disclosure Doesn’t Help

China

E-Star Commercial Management is a commercial operational service provider focused on the Greater Bay Area

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E-Star Commercial Management (ESCM HK)

E-Star Commercial Management Pre-IPO - Better Disclosure in New Prospectus

E-Star Commercial Management (ESCM HK) is looking to raise US$150m in its upcoming Hong Kong IPO. ESCM is a commercial operational service provider...

Zhen Zhou, Toh

E-Star Commercial Management Pre-IPO - Still Largely Reliant on Galaxy, Poor Disclosure Doesn’t Help

E-Star Commercial Management (ESCM HK) is looking to raise US$150m in its upcoming Hong Kong IPO.ESCM is a commercial operational service provider...

Zhen Zhou, Toh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)