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

Luzhou Commercial Bank Co Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27817" target="_blank" data-smartkarma-citation="entities:27817:1">Luzhou Commercial Bank Co Ltd (1983 HK)</a> is looking to raise up to US$238m in its upcoming IPO.
The company has demonstrated decent growth in net revenue, net profit, and total assets from FY2015 to FY2017. However, earnings growth has lagged asset growth. This has been mainly driven by the narrowing of interest spreads.
The silver lining is that the bank has shown an improvement in net profit in its 1H FY2018 results. Compared to peers, it also has better asset quality as shown through a lower than industry average NPL ratio.
In this insight, we will take a look at the bank's financial performance, examine its profitability and capital adequacy ratios, compare its valuation to other Hong Kong-listed city commercial banks. We will also run the deal through ECM framework.

Luzhou Commercial Bank Co Ltd (1983 HK) is looking to raise up to US$238m in its upcoming IPO.
The company has demonstrated decent growth in net revenue, net profit, and total assets from FY2015 to FY2017. However, earnings growth has lagged asset growth. This has been mainly driven by the narrowing of interest spreads.
The silver lining is that the bank has shown an improvement in net profit in its 1H FY2018 results. Compared to peers, it also has better asset quality as shown through a lower than industry average NPL ratio.
In this insight, we will take a look at the bank's financial performance, examine its profitability and capital adequacy ratios, compare its valuation to other Hong Kong-listed city commercial banks. We will also run the deal through ECM framework.

Luzhou City Commercial Bank IPO (泸州市商业银行) - Earnings Lagging Asset Growth Owing to Tightening Spread

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.

<a href="https://www.smartkarma.com/entities/27817" target="_blank" data-smartkarma-citation="entities:27817:1">Luzhou Commercial Bank Co Ltd (1983 HK)</a> is a Chinese state-controlled city commercial bank. Luzhou Bank has launched a Hong Kong IPO to raise net proceeds between HK$1.6 billion ($208 million) to HK$1.8 billion ($240 million).<div class="content-highlight">Our analysis suggests that Luzhou Bank’s fundamentals are mixed as its excellent asset quality is offset by the sharp deceleration in growth in 1H18.</div>

Luzhou Commercial Bank Co Ltd (1983 HK) is a Chinese state-controlled city commercial bank. Luzhou Bank has launched a Hong Kong IPO to raise net proceeds between HK$1.6 billion ($208 million) to HK$1.8 billion ($240 million).Our analysis suggests that Luzhou Bank’s fundamentals are mixed as its excellent asset quality is offset by the sharp deceleration in growth in 1H18.

Luzhou Bank IPO Preview: Excellent Asset Quality Dulled by Slowing Growth

China

Luzhou Bank Co. Ltd. provides banking services. The Company offers deposits, loans, domestic settlement, bill discounting, wealth management, and other banking services. Luzhou Bank provides its services to individuals, companies, and other groups.

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Luzhou Commercial Bank Co Ltd (1983 HK)

Luzhou City Commercial Bank IPO (泸州市商业银行) - Earnings Lagging Asset Growth Owing to Tightening Spread

Luzhou Commercial Bank Co Ltd (1983 HK) is looking to raise up to US$238m in its upcoming IPO. The company has demonstrated decent growth in net...

Zhen Zhou, Toh

Luzhou Bank IPO Preview: Excellent Asset Quality Dulled by Slowing Growth

Luzhou Commercial Bank Co Ltd (1983 HK) is a Chinese state-controlled city commercial bank. Luzhou Bank has launched a Hong Kong IPO to raise net...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)