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

Digital Core REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digital-core-reit" target="_blank" data-smartkarma-citation="entities:35145:1" rel="noopener">Digital Core REIT (DCREIT SP)</a> is looking to raise at least US$100m in its primary placement. The proceeds will be used to fund potential acquisitions and debt repayment. </li>
<li>The deal will be a large one to digest at 72.7 days of three month ADV and 12.8% dilution.</li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Digital Core REIT (DCREIT SP) is looking to raise at least US$100m in its primary placement. The proceeds will be used to fund potential acquisitions and debt repayment. 
The deal will be a large one to digest at 72.7 days of three month ADV and 12.8% dilution.
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


Digital Core REIT Placement - Taking a Turn for the Better After All the Negative News

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Capitaland India Trust / Equity Bottom-Up

<ul><li>REIT Watch - Data centre S-Reits positive about riding AI wave The exponential progress of artificial intelligence (AI) and machine learning is expected to create unprecedented demand for global data centres, noted JLL in its Data Centres 2024 Global Outlook.</li><li>MIT’s portfolio occupancy for its data centre segment is at 91.0 per cent (as at Dec 31, 2023), 2.4 percentage points lower quarter on quarter.</li></ul>

REIT Watch - Data centre S-Reits positive about riding AI wave The exponential progress of artificial intelligence (AI) and machine learning is expected to create unprecedented demand for global data centres, noted JLL in its Data Centres 2024 Global Outlook.MIT’s portfolio occupancy for its data centre segment is at 91.0 per cent (as at Dec 31, 2023), 2.4 percentage points lower quarter on quarter.

REIT Watch - Data centre S-Reits positive about riding AI wave

<ul><li>CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan 26.</li><li>It also led the share buyback consideration tally in January, followed by Yangzijiang Financial Holding, Singapore Technologies Engineering, Venture Corporation and OUE.</li><li>Aside from Jardine Matheson Holdings, ComfortDelGro also ranked among the 10 stocks that booked the highest net institutional inflow in January.</li></ul>

CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan 26.It also led the share buyback consideration tally in January, followed by Yangzijiang Financial Holding, Singapore Technologies Engineering, Venture Corporation and OUE.Aside from Jardine Matheson Holdings, ComfortDelGro also ranked among the 10 stocks that booked the highest net institutional inflow in January.

Silchester takes ComfortDelGro stake above 7%

Yangzijiang Financial Holding / Equity Bottom-Up

<ul><li>Managing director of Swensen’s ABR Holdings adds to his stake CapitaLand Investment again led the buyback consideration tally, buying back 11,965,200 shares at an average price of S$2.94 per share over the five sessions.</li><li>On Jan 19, ABR Holdings managing director Ang Yee Lim acquired 175,300 shares of the company for a consideration of S$83,432 at an average price of S$0.476 per share.</li></ul>

Managing director of Swensen’s ABR Holdings adds to his stake CapitaLand Investment again led the buyback consideration tally, buying back 11,965,200 shares at an average price of S$2.94 per share over the five sessions.On Jan 19, ABR Holdings managing director Ang Yee Lim acquired 175,300 shares of the company for a consideration of S$83,432 at an average price of S$0.476 per share.

Managing director of Swensen’s ABR Holdings adds to his stake

<ul><li>Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb  Frasers Centrepoint Trust (FCT) will kick off the current financial reporting season for S-Reits with the release of its first quarter (ended Dec 31, 2023) business update after the close of trading on Jan 22, 2024.</li></ul>

Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb  Frasers Centrepoint Trust (FCT) will kick off the current financial reporting season for S-Reits with the release of its first quarter (ended Dec 31, 2023) business update after the close of trading on Jan 22, 2024.

REIT Watch - 26 S-Reits confirm schedule for upcoming earnings season

Singapore

Mapletree Industrial Trust is a Singapore-focused real estate investment trust with a large and diversified portfolio of industrial properties. The Trust invests in a diverse portfolio of industrial properties with the primary objective of achieving an attractive level of return from rental income and for long-term capital growth.

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Mapletree Industrial Trust (MINT SP)

Digital Core REIT Placement - Taking a Turn for the Better After All the Negative News

Digital Core REIT (DCREIT SP) is looking to raise at least US$100m in its primary placement. The proceeds will be used to fund potential...

Ethan Aw

REIT Watch - Data centre S-Reits positive about riding AI wave

REIT Watch - Data centre S-Reits positive about riding AI wave The exponential progress of artificial intelligence (AI) and machine learning is...

Singapore Exchange Ltd (SGX)

Silchester takes ComfortDelGro stake above 7%

CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan...

Singapore Exchange Ltd (SGX)

Managing director of Swensen’s ABR Holdings adds to his stake

Managing director of Swensen’s ABR Holdings adds to his stake CapitaLand Investment again led the buyback consideration tally, buying back...

Singapore Exchange Ltd (SGX)

REIT Watch - 26 S-Reits confirm schedule for upcoming earnings season

Schedule of S-Reits earnings or business update Lendlease Global Commercial REIT 1-Feb Frasers Centrepoint Trust (FCT) will kick off the current...

Singapore Exchange Ltd (SGX)

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