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

Thai Life Insurance  / Equity Capital Markets

<ul>
<li>Thai Life Insurance is looking to raise up to US$1bn in its upcoming Thailand IPO.</li>
<li>Thai Life Insurance is one of the largest life insurance companies in Thailand, third by assets. As of Mar 2022, it had 64,000 insurance agents.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Thai Life Insurance is looking to raise up to US$1bn in its upcoming Thailand IPO.
Thai Life Insurance is one of the largest life insurance companies in Thailand, third by assets. As of Mar 2022, it had 64,000 insurance agents.
In this note, we talk about the positive aspects of the deal.


Thai Life Insurance Pre-IPO - The Positives - Resilient Performance with a Changing Product Mix

Tsingtao Brewery Co Ltd H / 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>IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.</li>
<li>Placements stole the limelight this week with Tsingtao, Woodside and Digital Tel Infra all managing to do well.</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.
Placements stole the limelight this week with Tsingtao, Woodside and Digital Tel Infra all managing to do well.


ECM Weekly (5th June 2022) - Tsingtao, Woodside, Digital Tel, CALB, Scivita

Alpha-Centric ESG Research

Kyle Rudden

<ul>
<li>For better or for worse, the <a href="https://www.smartkarma.com/entities/life-insurance-corp-of-india-lic" target="_blank" data-smartkarma-citation="entities:28829:1" rel="noopener">Life Insurance Corporation of India (LICI IN)</a> IPO is done. Maybe we should start thinking about LIC's Scope 3 "financed emissions" (aka "portfolio emissions").</li>
<li>Financed emissions are investors' "shares" of investees' Scopes 1 and 2. A bit like someone else pulling the trigger, but being sent to the gallows for selling them the gun.</li>
<li>Portfolio emissions are major source of climate-related financial risks, often "hidden" because  financed emissions are grossly under-reported (or, quite commonly, <em>un</em>-reported).</li>
</ul>


For better or for worse, the Life Insurance Corporation of India (LICI IN) IPO is done. Maybe we should start thinking about LIC's Scope 3 "financed emissions" (aka "portfolio emissions").
Financed emissions are investors' "shares" of investees' Scopes 1 and 2. A bit like someone else pulling the trigger, but being sent to the gallows for selling them the gun.
Portfolio emissions are major source of climate-related financial risks, often "hidden" because  financed emissions are grossly under-reported (or, quite commonly, un-reported).


Life Insurance Corporation of India: Time to Think About Scope 3 "Financed Emissions"

<ul>
<li>Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank.</li>
<li>Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.</li>
<li>We have covered various aspects of the deal in our earlier notes. In this note, we talk about the demand and trading dynamics. </li>
</ul>


Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank.
Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.
We have covered various aspects of the deal in our earlier notes. In this note, we talk about the demand and trading dynamics. 


Delhivery IPO Trading - Anchor Book Was Good but Overall Demand Was Still Tepid

JD.com Inc (ADR) / 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>With LIC not delivering and Delhivery needing insurance, combined with the Korean cancellations and HK silence, it looks like its going to be a quiet few weeks for IPOs.</li>
<li>On placements, both the Korean deals were a disappointment, despite being well-flagged.</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.
With LIC not delivering and Delhivery needing insurance, combined with the Korean cancellations and HK silence, it looks like its going to be a quiet few weeks for IPOs.
On placements, both the Korean deals were a disappointment, despite being well-flagged.


ECM Weekly (22nd May 22) - JD, LIC, Delhivery, Leapmotor, Vista, Paradeep, Woori, Hyundai Heavy, NIO

India

Life Insurance Corporation of India operates as an insurance company. The Company provides life, pension, health, and micro insurance products and services. Life Insurance serves customers in India.

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Life Insurance of India (LICI IN)

Thai Life Insurance Pre-IPO - The Positives - Resilient Performance with a Changing Product Mix

Thai Life Insurance is looking to raise up to US$1bn in its upcoming Thailand IPO. It is one of the largest Life Insurance companies in Thailand,...

Sumeet Singh

ECM Weekly (5th June 2022) - Tsingtao, Woodside, Digital Tel, CALB, Scivita

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

Life Insurance Corporation of India: Time to Think About Scope 3 "Financed Emissions"

For better or worse, LIC's IPO is over. Now is a good time to start thinking about "financed emissions" – LIC's "share" of investees' emissions,...

Kyle Rudden

Delhivery IPO Trading - Anchor Book Was Good but Overall Demand Was Still Tepid

Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank. In this note,...

Sumeet Singh

ECM Weekly (22nd May 22) - JD, LIC, Delhivery, Leapmotor, Vista, Paradeep, Woori, Hyundai Heavy, NIO

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

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)