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

China Renaissance Holdings / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27365" target="_blank" data-smartkarma-citation="entities:27365:1">China Renaissance Holdings (1911 HK)</a> is looking to raise up to US$433m in its IPO. Proceeds raised will be mainly used to expand its investment banking business, investment management business, and develop its wealth management business.Breaking down CRC by business segments suggest that investment banking has been struggling and losing market share based on transaction value. Competition is intense, driving down fees and transaction value per advisory service. However, the bright spot comes from CRC's investment management segment which it has cemented itself as a reputable private equity investor with a track record of picking new economy unicorns.CRC also recently established its securities business to capture the full lifecycle of their clients as well as China's growing finance market. While it is still early days for the business is already valued at RMB7bn valuation from its December 2017 funding. In this insight, we will be looking at the company's past financial performance, break down its respective business segments' market share, and compare its valuation to other Hong Kong-listed Chinese investment banks and securities firms. We will also run the deal through our ECM framework.

China Renaissance Holdings (1911 HK) is looking to raise up to US$433m in its IPO. Proceeds raised will be mainly used to expand its investment banking business, investment management business, and develop its wealth management business.Breaking down CRC by business segments suggest that investment banking has been struggling and losing market share based on transaction value. Competition is intense, driving down fees and transaction value per advisory service. However, the bright spot comes from CRC's investment management segment which it has cemented itself as a reputable private equity investor with a track record of picking new economy unicorns.CRC also recently established its securities business to capture the full lifecycle of their clients as well as China's growing finance market. While it is still early days for the business is already valued at RMB7bn valuation from its December 2017 funding. In this insight, we will be looking at the company's past financial performance, break down its respective business segments' market share, and compare its valuation to other Hong Kong-listed Chinese investment banks and securities firms. We will also run the deal through our ECM framework.

China Renaissance Capital IPO Review - Priced to Perfection

United States

KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies, and hedge funds. KKR & Co serves clients worldwide.

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KKR & Co (KKR US)

China Renaissance Capital IPO Review - Priced to Perfection

China Renaissance Holdings (1911 HK) is looking to raise up to US$433m in its IPO. Proceeds raised will be mainly used to expand its investment...

Zhen Zhou, Toh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)