APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC 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

AUB Group Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aub-group-limited" target="_blank" data-smartkarma-citation="entities:11179:1" rel="noopener">AUB Group Limited (AUB AU)</a> is looking to raise up to AUD150m (US$100m) in its primary placement. The proceeds will be used to strengthen its balance sheet.</li>
<li>The deal would be a large one to digest at 24 days of three month ADV and dilution of 6.2%.  </li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



AUB Group Limited (AUB AU) is looking to raise up to AUD150m (US$100m) in its primary placement. The proceeds will be used to strengthen its balance sheet.
The deal would be a large one to digest at 24 days of three month ADV and dilution of 6.2%.  
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


AUB Group Placement - Came as a Surprise but Strong Track Record Makes up for It

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul><li>There is a boom in Bangkok, yet again.</li><li>This tends to be positive for banks.</li><li>It creates loan demand, both by developers and also companies making and selling products for construction.It also supports mortgage lending and collateral values behind loans.</li><li>A benign credit cycle, high provisions and reasonable margins is reason enough to be positive on Thai banks. Additionally is the current construction boom.</li><li><strong>But the warning and focus of this note is that not all banks are created equal. And it may be surprising, that some of Thailand&rsquo;s newest banks are showing trends completely at odds with mainstream banks. </strong></li><li><strong>It pays to differentiate, even in a boom</strong></li></ul>

There is a boom in Bangkok, yet again.This tends to be positive for banks.It creates loan demand, both by developers and also companies making and selling products for construction.It also supports mortgage lending and collateral values behind loans.A benign credit cycle, high provisions and reasonable margins is reason enough to be positive on Thai banks. Additionally is the current construction boom.But the warning and focus of this note is that not all banks are created equal. And it may be surprising, that some of Thailand&rsquo;s newest banks are showing trends completely at odds with mainstream banks. It pays to differentiate, even in a boom

Thailand: Despite Boom, Small Banks are Dull. Big Banks are Irresistible.

Thailand

Indara Insurance Public Company Limited provides non-life insurance including fire, marine, automobile,  and miscellaneous insurance.

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Indara Insurance Pub (INSURE TB)

AUB Group Placement - Came as a Surprise but Strong Track Record Makes up for It

AUB Group is looking to raise up to AUD150m (US$100m) in its primary placement. In this note, we'll run the deal through our ECM framework and...

Ethan Aw

Thailand: Despite Boom, Small Banks are Dull. Big Banks are Irresistible.

There is a boom in Bangkok, yet again. This tends to be positive for banks. It creates loan demand, both by developers and also companies making...

Daniel Tabbush

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52-week Range

Market Cap (USDm)

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