APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sayona-mining-ltd" target="_blank" data-smartkarma-citation="entities:1589:1" rel="noopener">Sayona Mining (SYA AU)</a> is looking to raise A$190m (approx US$135m) to restart its North American Lithium (NAL) mine.</li>
<li>On Monday (23rd May 2022), Sayona Mining had published a positive pre-feasibility study on the NAL mine, where shares have since corrected 26.8%.</li>
<li>The NAL mine is co-owned with US-based Lithium explorer, Piedmont Lithium, where Sayona Mining owns 75% interest, with the remainder 25% owned by Piedmont Lithium.</li>
</ul>



Sayona Mining (SYA AU) is looking to raise A$190m (approx US$135m) to restart its North American Lithium (NAL) mine.
On Monday (23rd May 2022), Sayona Mining had published a positive pre-feasibility study on the NAL mine, where shares have since corrected 26.8%.
The NAL mine is co-owned with US-based Lithium explorer, Piedmont Lithium, where Sayona Mining owns 75% interest, with the remainder 25% owned by Piedmont Lithium.


Sayona Mining Placement - Speculative in Nature but past Deals Have Done Well

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>With under three weeks until <strong><a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a></strong> shareholders vote on CapVest's Offer, BGH continues to <em>gradually</em> push out the tendering period for its own Offer.</li>
<li>The outcome of the Scheme Meeting is all but a foregone conclusion assuming BGH sticks to its guns and is not supportive; which then potentially rekindles this competitive bidding situation.</li>
<li>This insight discusses the constraints BGH needs to adhere to in "truth in takeover" statements. There are still a handful of moving parts to unfold in this transaction.</li>
</ul>


With under three weeks until Virtus Health (VRT AU) shareholders vote on CapVest's Offer, BGH continues to gradually push out the tendering period for its own Offer.
The outcome of the Scheme Meeting is all but a foregone conclusion assuming BGH sticks to its guns and is not supportive; which then potentially rekindles this competitive bidding situation.
This insight discusses the constraints BGH needs to adhere to in "truth in takeover" statements. There are still a handful of moving parts to unfold in this transaction.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<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>Placements continued to flow in, at a slower pace than last week, with Malaysia and ANZ chipping in.</li>
<li>While the HK IPO scene failed to produce anything noteworthy with its two listing, South Korea appears to be leading the charge, once again.</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.
Placements continued to flow in, at a slower pace than last week, with Malaysia and ANZ chipping in.
While the HK IPO scene failed to produce anything noteworthy with its two listing, South Korea appears to be leading the charge, once again.


ECM Weekly (3rd Apr 2022)- JD, Tencent, Prosus, One Store, SK Shieldus, FWD, Ferretti, Recbio, Belle

<ul>
<li>
<a href="https://www.smartkarma.com/entities/paladin-energy-ltd" target="_blank" data-smartkarma-citation="entities:10117:1" rel="noopener">Paladin Energy (PDN AU)</a> aims to raise around US$150m (A$200m) via selling 277.8m new shares at A$0.72/per share, 8.9% discount to last close.</li>
<li>The proceeds will be geared towards restarting its Langer Heinrich Mine in Namibia and for funding working capital and fees. </li>
<li>In this note, we will talk about the firm’s track record and run the deal through our ECM framework.</li>
</ul>



Paladin Energy (PDN AU) aims to raise around US$150m (A$200m) via selling 277.8m new shares at A$0.72/per share, 8.9% discount to last close.
The proceeds will be geared towards restarting its Langer Heinrich Mine in Namibia and for funding working capital and fees. 
In this note, we will talk about the firm’s track record and run the deal through our ECM framework.


Paladin Energy Placement - Slightly Speculative but Momentum Has Been Strong

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.</li>
<li>While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.</li>
<li>The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.</li>
</ul>


Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.
While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.
The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.


Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

Australia

Paladin Energy Ltd operates as a mining company. The Company explores and mines uranium. Paladin Energy serves customers worldwide.

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Paladin Energy (PDN AU)

Sayona Mining Placement - Speculative in Nature but past Deals Have Done Well

Sayona Mining (SYA AU) is looking to raise US$135m to restart its North American Lithium (NAL) mine. On Mon, the firm published a positive PFS on...

Clarence Chu

Virtus Health & BGH: Truth in Takeovers

Recommendation unchanged: if you're in, hold on for any possible upward revision. If not already in, get involved around here, or on any pullback.

David Blennerhassett

ECM Weekly (3rd Apr 2022)- JD, Tencent, Prosus, One Store, SK Shieldus, FWD, Ferretti, Recbio, Belle

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

Paladin Energy Placement - Slightly Speculative but Momentum Has Been Strong

Paladin Energy (PDN AU) aims to raise around US$150m (A$200m) via selling 277.8m new shares at A$0.72/per share, 8.9% discount to last close.

Clarence Chu

Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

The Russell 2000 $IWM remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance...

Vermilion Research

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