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

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>A few IPOs are lined up in Thailand and South Korea, in addition a number of deals are gearing up for launch.</li>
<li>There were no major placements last week. Although there are a few large lockup releases soon.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
A few IPOs are lined up in Thailand and South Korea, in addition a number of deals are gearing up for launch.
There were no major placements last week. Although there are a few large lockup releases soon.


ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.</li>
<li>Given the recent market volatility, there were no large placements this week.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.
Given the recent market volatility, there were no large placements this week.


ECM Weekly (19th June 2022) - Tianqi, GoAir, China United, Hongjiu Fruit, Airtel/Singtel, ExaWizards

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand and Chinese ADRs.</li>
<li>On the ECM front, <a href="https://www.smartkarma.com/entities/thai-life-insurance" target="_blank" data-smartkarma-citation="entities:34915:1" rel="noopener">Thai Life Insurance (124744Z TB)</a> is premarketing a US$1bn SET listing and <a href="https://www.smartkarma.com/entities/gogox-holdings" target="_blank" data-smartkarma-citation="entities:35556:1" rel="noopener">GoGoX Holdings (GOGO HK)</a> has won approval for a US$100-150m HKEx IPO.</li>
<li>On the Event-Driven front, there were developments at <a href="https://www.smartkarma.com/entities/china-vast-industrial-urban-development-company-limited" target="_blank" data-smartkarma-citation="entities:3212:1" rel="noopener">China Vast Industrial Urban Development (6166 HK)</a>, <a href="https://www.smartkarma.com/entities/suchuang-gas-corp-ltd" target="_blank" data-smartkarma-citation="entities:304:1" rel="noopener">Suchuang Gas Corp (1430 HK)</a>, <a href="https://www.smartkarma.com/entities/link-net-tbk-pt" target="_blank" data-smartkarma-citation="entities:1050:1" rel="noopener">Link Net (LINK IJ)</a>, <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>, Ramsay, Crown.</li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand and Chinese ADRs.
On the ECM front, Thai Life Insurance (124744Z TB) is premarketing a US$1bn SET listing and GoGoX Holdings (GOGO HK) has won approval for a US$100-150m HKEx IPO.
On the Event-Driven front, there were developments at China Vast Industrial Urban Development (6166 HK), Suchuang Gas Corp (1430 HK), Link Net (LINK IJ), Atlas Arteria (ALX AU), Ramsay, Crown.


Weekly Deals Digest (12 Jun): Thai Life, Link Admin, Ramsay, Link Net, China VAST, Suchuang Gas

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gogox-holdings" target="_blank" data-smartkarma-citation="entities:35556:1" rel="noopener">GoGoX Holdings (GOGO HK)</a>  is China’s third-largest online intra-city logistics platform in Mainland China with a market share of 3.2%.</li>
<li>The company’s application for a HKEx listing has been approved and plans to raise proceeds of about US$100-150m.</li>
<li>This insight focuses on the most recent data points from the company’s PHIP filing.</li>
</ul>



GoGoX Holdings (GOGO HK)  is China’s third-largest online intra-city logistics platform in Mainland China with a market share of 3.2%.
The company’s application for a HKEx listing has been approved and plans to raise proceeds of about US$100-150m.
This insight focuses on the most recent data points from the company’s PHIP filing.


GOGOX (PHIP Updates): Further Deterioration in Market Share and Fundamentals

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/58-freight-gogox" target="_blank" data-smartkarma-citation="entities:35517:1" rel="noopener">58 Freight (GogoX) (1903638D HK)</a> is looking to raise US$150m in its upcoming Hong Kong IPO.</li>
<li>GogoX is an online intra-city logistics platform in Asia. The company operates in more than 30 cities across five countries and regions in Asia.</li>
<li>GGX’s platform services segment continues to languish, even after the firm expended much higher incentives during the fiscal period. In this note, we look at GGX’s June 2022 PHIP updates.</li>
</ul>



58 Freight (GogoX) (1903638D HK) is looking to raise US$150m in its upcoming Hong Kong IPO.
GogoX is an online intra-city logistics platform in Asia. The company operates in more than 30 cities across five countries and regions in Asia.
GGX’s platform services segment continues to languish, even after the firm expended much higher incentives during the fiscal period. In this note, we look at GGX’s June 2022 PHIP updates.


58 Freight (GogoX) Pre-IPO - (June 2022) PHIP Updates - Prospects Seem Bleaker

Hong Kong

Feiyu Technology International Co Ltd is a video-game developer. The Company is primarily focused on the development and operation of mobile games.

ABC Multiactive Limited, through its subsidiaries, designs and sells computer software for e-business, Customer Relationship Management (CRM), e-finance, Internet trading, and e-training, and provides related professional and maintenance services.

GET Holdings Limited, through its subsidiaries, provides system solutions to assist its customers in defining their online business strategies. The Company also develop customized e-commerce systems and integrate web applications and platform services.

Sing Lee Software Group Limited, through its subsidiaries, develops and provides information and network technologies and services to the financial industry in China.

China e-Wallet Payment Group Limited provides biometrics and RFID products and solutions. The Company offers biometric access control devices, asset management systems, transport monitoring, and intelligent surveillance solutions. China e-Wallet Payment Group serves customers worldwide.

Aurum Pacific (China) Group Limited provides software solutions. The Company designs and develops comprise translation, information security, Internet application, and entertainment software solutions. Aurum Pacific (China) Group serves customers in Hong Kong.

Founder Holdings Limited, through its subsidiaries, develops software and provides systems integration services.  The Company also distributes computer products and invests in real estate.

Inspur International Limited, through its subsidiaries, distributes, sources, and resells IT (Information Technology) products in Hong Kong, China, and overseas markets.

Sino-i Technology Limited, through its subsidiaries, operates information technology business and provides financial information and related services. The Company also develops and invests in properties, sells consumer packaged electronics products, and trades securities.  In addition, Sino-i Technology operates hotels and distance learning and application services.

Maxnerva Technology Services Ltd offers IT services. The Company provides manufacturing, office, and new retail solutions. Maxnerva Technology Services serves customers in China.

Reckon Limited distributes, publishes, supports and markets financial management software in Australia.  The Company's products are developed locally by the Group or republished under license from Intuit.  The Company's software targets personal financial management, SME financial management and financial planning and are sold under the "Quicken" brand.

DigitalX Ltd operates as a software solutions company. The Company operates in the global digital payments systems industry through disruptive fintech solutions in the remittance and value chain sectors, and allows consumers to make secure and cost-effective money transfers worldwide..

Cheetah Mobile Inc develops internet and mobile enhancement software and applications. The Company develop and operates and internet browser, and internet security, memory saving, power optimization, mobile games, and photo collage applications. Cheetah Mobile operates in China.

Rexit Bhd, through its subsidiaries, provides business application solutions. The Company's services range from conceptual development and project management, to overall systems implementation.  Rexit has developed and owns software application solutions, such as insurance management, imaging and workflow systems, and wireless radio frequency identification tracking systems.

Fun Yours Technology Co. Ltd. develops and sells role-playing computer games in Taiwan.

Appasia Berhad engages in the research, development, and sale of information communication technology (ICT) security systems, and provision of related professional services in Malaysia.

KL-Net Corp. provides system integration services and electronic data interchange (EDI) service, which enables government agencies and businesses process their transactions electronically.  The Company also markets computer hardware and software, and operates Internet portal service website.

Telcoware Co., Ltd. provides mobile infrastructure solutions and services.  The Company's products include wireless transmission of data and voice systems, such as home location registers, gateway location registers, authentication centers, telephony and IP integration systems, and instant messaging.

TOSE CO., LTD. develops gaming software and creates online contents for smartphones and the Internet. The Company also provides arcade games and mobile apps.

Nable Communications, Inc. provides communication solutions for operators, enterprises, and handset vendors. The Company provides IMS enabler solutions, IMS client framework and IP telephony solutions.

Gogox Holdings Limited develops online intra city logistics platforms. The Company provides value added services, capable of catering to evolving demand of shippers, drivers and other participants in our ecosystem. Gogox Holdings provides its services throughout Hong Kong.

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GoGoX Holdings (2246 HK)

ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

ECM Weekly (19th June 2022) - Tianqi, GoAir, China United, Hongjiu Fruit, Airtel/Singtel, ExaWizards

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Weekly Deals Digest (12 Jun): Thai Life, Link Admin, Ramsay, Link Net, China VAST, Suchuang Gas

Last week, notable developments occurred in Event-Driven (China VAST, Link Net, Suchuang Gas, Yancoal, Link, Atlas Arteria, Ramsay, Crown, True...

Arun George

58 Freight (GogoX) Pre-IPO - (June 2022) PHIP Updates - Prospects Seem Bleaker

58 Freight (GogoX) (1903638D HK) is looking to raise US$150m in its upcoming Hong Kong IPO. GogoX is an online intra-city logistics platform in...

Clarence Chu

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ECM Weekly (26th June 2022) - Tianqi, Thai Life, Thai Bev, ClouDr, ACommerce, SenseTime, SonaComstar

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

ECM Weekly (19th June 2022) - Tianqi, GoAir, China United, Hongjiu Fruit, Airtel/Singtel, ExaWizards

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Weekly Deals Digest (12 Jun): Thai Life, Link Admin, Ramsay, Link Net, China VAST, Suchuang Gas

Last week, notable developments occurred in Event-Driven (China VAST, Link Net, Suchuang Gas, Yancoal, Link, Atlas Arteria, Ramsay, Crown, True...

Arun George

GOGOX (PHIP Updates): Further Deterioration in Market Share and Fundamentals

GOGOX's PHIP filing reveals that its market share has further declined. The company continues to pay high incentives to attract users which has...

Shifara Samsudeen, ACMA, CGMA

58 Freight (GogoX) Pre-IPO - (June 2022) PHIP Updates - Prospects Seem Bleaker

58 Freight (GogoX) (1903638D HK) is looking to raise US$150m in its upcoming Hong Kong IPO. GogoX is an online intra-city logistics platform in...

Clarence Chu