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

Sino American Silicon Products / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sino-american-silicon-products-inc" target="_blank" data-smartkarma-citation="entities:3441:1" rel="noopener">Sino American Silicon Products (5483 TT)</a> is looking to raise US$287m in its GDRs offering. Proceeds will be used to purchase overseas raw materials, repay bank loans and purchase machinery.</li>
<li>Similar to previous GDR listings, the deal has had a long drawn out approval process. Thus, the deal is a very well flagged one.</li>
<li>The deal is a relatively large one to digest at 15.7 days of the stock’s three month ADV.</li>
</ul>



Sino American Silicon Products (5483 TT) is looking to raise US$287m in its GDRs offering. Proceeds will be used to purchase overseas raw materials, repay bank loans and purchase machinery.
Similar to previous GDR listings, the deal has had a long drawn out approval process. Thus, the deal is a very well flagged one.
The deal is a relatively large one to digest at 15.7 days of the stock’s three month ADV.


Sino-American Silicon GDR Offering - Relatively Large One to Digest, Although Discount Is Attractive

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sino-american-silicon-products-inc" target="_blank" data-smartkarma-citation="entities:3441:1" rel="noopener">Sino American Silicon Products (5483 TT)</a> is looking to raise at least US$338m in its upcoming global depository receipts (GDRs) offering.</li>
<li>In late Feb 2024, Sino-American Silicon (SAS) announced its board’s resolution to issue up to 55m common shares via a GDR offering.</li>
<li>Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Sino American Silicon Products (5483 TT) is looking to raise at least US$338m in its upcoming global depository receipts (GDRs) offering.
In late Feb 2024, Sino-American Silicon (SAS) announced its board’s resolution to issue up to 55m common shares via a GDR offering.
Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Sino-American Silicon Early Look - Another Well Flagged GDR Offering in the Works

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

Sino American Silicon Products / Equity Bottom-Up

<ul><li>GlobalWafers secures $400M from CHIPS Act to boost semiconductor production amid global chip shortage.</li><li>Samsung intensifies focus on wearable device sales with new strategies to adapt to declining demand in market.</li><li>Acer targets Indian smartphone market with white-label approach and Qualcomm teams up with Microsoft to innovate PCs using AI technology.</li></ul>

GlobalWafers secures $400M from CHIPS Act to boost semiconductor production amid global chip shortage.Samsung intensifies focus on wearable device sales with new strategies to adapt to declining demand in market.Acer targets Indian smartphone market with white-label approach and Qualcomm teams up with Microsoft to innovate PCs using AI technology.

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

<ul><li>GlobalWafers secures $400M of CHIPS Act funding; boosting semiconductor production capacity and technological advancements.</li><li>Acer targets India's booming smartphone market with a white-label strategy; aiming to capitalize on the growing demand.</li><li>Qualcomm collaborates with Microsoft to revolutionize PCs in the AI era; promising groundbreaking advancements in affordable chip designs.</li></ul>

GlobalWafers secures $400M of CHIPS Act funding; boosting semiconductor production capacity and technological advancements.Acer targets India's booming smartphone market with a white-label strategy; aiming to capitalize on the growing demand.Qualcomm collaborates with Microsoft to revolutionize PCs in the AI era; promising groundbreaking advancements in affordable chip designs.

Tech Supply Chain Tracker (17-Jul-2024): GlobalWafers gets $400M CHIPS Act funding.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The TIP Taiwan Select High Dividend ETF (00919 TW) tracks the TIP Customized Taiwan Select High Dividend Index and has an AUM of TWD 284bn (US$8.7bn).</li>
<li>We forecast 8 changes a side at the December rebalance with an estimated one-way turnover of around 15.8% and a round-trip trade of around US$2.75bn.</li>
<li>An equal weighted basket of potential inclusions has outperformed an equal weighted basket of potential deletions since beginning September with a pick-up in pace over the last 2-3 weeks.</li>
</ul>


The TIP Taiwan Select High Dividend ETF (00919 TW) tracks the TIP Customized Taiwan Select High Dividend Index and has an AUM of TWD 284bn (US$8.7bn).
We forecast 8 changes a side at the December rebalance with an estimated one-way turnover of around 15.8% and a round-trip trade of around US$2.75bn.
An equal weighted basket of potential inclusions has outperformed an equal weighted basket of potential deletions since beginning September with a pick-up in pace over the last 2-3 weeks.


TIP Customized Taiwan Select High Div Index Rebalance Preview: 32% T/O; US$2.75bn Trade; HUGE Impact

Taiwan

Sino-American Silicon Products Inc. supplies silicon-based products, including silicon lapped wafer, silicon diffusion wafer, silicon ingot, silicon diffused diode chip, and automobile rectifier.  The Company sells its products worldwide.

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Sino American Silicon Products (5483 TT)

Sino-American Silicon GDR Offering - Relatively Large One to Digest, Although Discount Is Attractive

Sino American Silicon Products (5483 TT) is looking to raise US$287m in its GDRs offering. Proceeds will be used to purchase overseas raw...

Clarence Chu

Sino-American Silicon Early Look - Another Well Flagged GDR Offering in the Works

Sino American Silicon Products (5483 TT) is looking to raise at least US$338m in its upcoming global depository receipts (GDRs) offering.

Clarence Chu

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

GlobalWafers gets $400M funding, Samsung boosts wearable sales, ASML sees growth with AI and China, Acer targets India, Qualcomm and Microsoft...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (17-Jul-2024): GlobalWafers gets $400M CHIPS Act funding.

GlobalWafers secures $400M from CHIPS Act, Samsung targets wearable sales, ASML sees high demand, Acer eyes India market, Qualcomm/Microsoft...

Tech Supply Chain Tracker

TIP Customized Taiwan Select High Div Index Rebalance Preview: 32% T/O; US$2.75bn Trade; HUGE Impact

We forecast 8 changes a side in December. Estimated one-way turnover is 15.8% with a round-trip trade of US$2.75bn. The impact on the forecast...

Brian Freitas

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