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

Zhejiang Leapmotor Technologie / Equity Capital Markets

<ul>
<li>Leapmotor (LM) aims to raise around US$1.5bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.</li>
<li>As of end Jun 22, it had delivered a total of 104,829 cars with most of its sales coming from its mini units, T03.</li>
<li>In our previous notes, we spoke about the company’s past performance. In this note, we will have a look at its PHIP updates.</li>
</ul>


Leapmotor (LM) aims to raise around US$1.5bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
As of end Jun 22, it had delivered a total of 104,829 cars with most of its sales coming from its mini units, T03.
In our previous notes, we spoke about the company’s past performance. In this note, we will have a look at its PHIP updates.


Leapmotor Pre-IPO - PHIP Updates - 6M22 Sales Doing Well, Catching up with the Rest

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Ford performed well during the second quarter despite a difficult environment that included supply chain disruptions, numerous new economic challenges, and general uncertainty.</li><li>It managed to surpass Wall Street expectations in terms of both, revenues as well as earnings.</li><li>The Ford+ strategy, which is Ford's best chance to add value since they scaled the Model T, is why they achieved these achievements.</li></ul>

Ford performed well during the second quarter despite a difficult environment that included supply chain disruptions, numerous new economic challenges, and general uncertainty.It managed to surpass Wall Street expectations in terms of both, revenues as well as earnings.The Ford+ strategy, which is Ford's best chance to add value since they scaled the Model T, is why they achieved these achievements.

Ford Motor Company: Divestment Of India Unit & Other Developments

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nexteer-automotive-group-ltd" target="_blank" data-smartkarma-citation="entities:15483:1" rel="noopener">Nexteer Automotive (1316 HK)</a> share price fell 50% in Q1 22 due to the China lockdown scare although it has manufacturing facilities all over the world. </li>
<li>It traded below book value at some point and rallied alongside other Chinese names in the past month to currently at book value. </li>
<li>Most of the new business won is from EV OEMs thus the company deserves a higher multiple given the high growth in the EV sector. </li>
</ul>



Nexteer Automotive (1316 HK) share price fell 50% in Q1 22 due to the China lockdown scare although it has manufacturing facilities all over the world. 
It traded below book value at some point and rallied alongside other Chinese names in the past month to currently at book value. 
Most of the new business won is from EV OEMs thus the company deserves a higher multiple given the high growth in the EV sector. 


Nexteer (1316): Unjustly Punished and Bounce Soon?

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

<ul><li>Electric Vehicle Startup Lucid Motors, the poster child for the SPAC Boom in 2021, has seen its valuation plummet in recent months amidst a string of production &amp; quality control issues, in addition to other demand headwinds.</li><li>As the macroeconomic environment deteriorates further, some rivals claim that the company could go bankrupt unless it cuts back on spending and reprices its vehicles.</li><li>Elon Musk had an ominous warning for EV startup Lucid Motors last week</li></ul>

Electric Vehicle Startup Lucid Motors, the poster child for the SPAC Boom in 2021, has seen its valuation plummet in recent months amidst a string of production &amp; quality control issues, in addition to other demand headwinds.As the macroeconomic environment deteriorates further, some rivals claim that the company could go bankrupt unless it cuts back on spending and reprices its vehicles.Elon Musk had an ominous warning for EV startup Lucid Motors last week

Sona Blw Precision Forgings Lt / Equity Capital Markets

<ul>
<li>Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. </li>
<li>The shares are now trading well above the IPO price and its largest PE investor, Blackstone, will be released from its lockup soon.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. 
The shares are now trading well above the IPO price and its largest PE investor, Blackstone, will be released from its lockup soon.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Sona Comstar Lock-Up - Blackstone up 17x, Sold Half in the IPO with over US$1bn Left

United States

Ford Motor Company designs, manufactures, and services cars and trucks.  The Company also provides vehicle-related financing, leasing, and insurance through its subsidiary.

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Ford Motor Co (F US)

Leapmotor Pre-IPO - PHIP Updates - 6M22 Sales Doing Well, Catching up with the Rest

Leapmotor (LM) aims to raise around US$1.5bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.

Sumeet Singh

Ford Motor Company: Divestment Of India Unit & Other Developments

Ford performed well during the second quarter despite a difficult environment that included supply chain disruptions, numerous new economic...

Baptista Research

Nexteer (1316): Unjustly Punished and Bounce Soon?

Nexteer should not be priced as a combustion engine auto supplier but EV auto supplier which means higher valuation due to the higher growth rate.

Henry Soediarko

Race to Survival

As the macroeconomic environment deteriorates further, some rivals claim that the company could go bankrupt unless it cuts back on spending and...

subSPAC

Sona Comstar Lock-Up - Blackstone up 17x, Sold Half in the IPO with over US$1bn Left

Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. The shares are trading well above the IPO price. Blackstone still owns...

Sumeet Singh

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