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

<a href="https://www.smartkarma.com/entities/27574" target="_blank" data-smartkarma-citation="entities:27574:1">Mobvista (MBV HK)</a> plans to raise up to US$400m in its Hong Kong IPO, as per media reports. Although looking at the reported numbers the amount looks far-fetched. 
MBV provides user acquisition solutions via advertising services for apps. The company claims to be the largest in China and second in Asia in terms of monetization SDK, as of Dec 2017. It lays a lot of emphasis on its programmatic ad solution. <a href="https://www.smartkarma.com/entities/17203" target="_blank" data-smartkarma-citation="entities:17203:1">Netease Inc (Adr) (NTES US)</a> owns about 10% of the company.
However, growth slowed down in 2017 and most of the tech solutions that it offers seem to have been bought from third parties over the past two-three years. In addition, there are large related parties transactions. Furthermore, its unclear if the company really needs to list as it seems to have enough money to spend US$68m on buying an office building, much higher than its reported profit for the year.

Mobvista (MBV HK) plans to raise up to US$400m in its Hong Kong IPO, as per media reports. Although looking at the reported numbers the amount looks far-fetched. 
MBV provides user acquisition solutions via advertising services for apps. The company claims to be the largest in China and second in Asia in terms of monetization SDK, as of Dec 2017. It lays a lot of emphasis on its programmatic ad solution. Netease Inc (Adr) (NTES US) owns about 10% of the company.
However, growth slowed down in 2017 and most of the tech solutions that it offers seem to have been bought from third parties over the past two-three years. In addition, there are large related parties transactions. Furthermore, its unclear if the company really needs to list as it seems to have enough money to spend US$68m on buying an office building, much higher than its reported profit for the year.

Mobvista Pre-IPO - Impairments Would Have Wiped off past Profit, Related Parties Still Owed Money

China

Mobvista Inc. operates as a holding company. The Company, through its subsidiaries, offers technology platform that provides mobile advertising and mobile analytics services to the application developers. Mobvista serves clients worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Mobvista Pre-IPO - Impairments Would Have Wiped off past Profit, Related Parties Still Owed Money

Mobvista (MBV HK) plans to raise up to US$400m in its Hong Kong IPO, as per media reports. Although looking at the reported numbers the amount...

Sumeet Singh