Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 14th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Xiaomi (1810 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 14th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Xiaomi (1810 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jul 14th): Tencent, AIA, Xiaomi

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 7th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jul 7th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jul 7th): Tencent, AIA, Kuaishou Technology

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 30th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 30th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jun 30th): Tencent, AIA, CK Asset

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/swire-pacific-ltd-cl-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener">Swire Pacific (19 HK)</a></strong> has announced it is selling its US Coca-Cola ops to its parent for HK$30.4bn (US$3.9bn). That's 40% of its market cap.</li>
<li>Preceding my comments on Swire are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



Swire Pacific (19 HK) has announced it is selling its US Coca-Cola ops to its parent for HK$30.4bn (US$3.9bn). That's 40% of its market cap.
Preceding my comments on Swire are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Swire Sells US Coke Ops To Parent

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 23rd based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 23rd based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jun 23rd): Tencent's HKD1.6bn Buybacks

Hong Kong

Fullsun International Holdings Group Company Limited operates as a real estate development company. The Company provides property sales, property management, property investment, and other services. Fullsun International Holdings Group also provides construction materials.

Powerlong Commercial Management Holdings Limited offers real estate services. The Company provides residential property management, office buildings management, serviced apartments management, and other services. Powerlong Commercial Management Holdings provides its services throughout China.

Powerlong Commercial Management Holdings (9909 HK)

Lai Sun Development Company Limited, through its subsidiaries, develops and invests in properties.  The Company also operates hotels and restaurants.

Great Wall Pan Asia Holdings Limited operates as a holding company. The Company, through its subsidiaries, owns a diversified portfolio of real estate assets in Hong Kong.

China Infrastructure Investment Limited is an investment holding company. The Company mainly invests in property development and natural gas businesses. China Infrastructure Investment Limited operates out of Hong Kong.

Redsun Properties Group Limited operates as a real estate development company. The Company develops and markets residential areas, office buildings, hotels, restaurants, and other related areas. Redsun Properties Group markets its buildings throughout Cayman Islands.

Asia Resources Holdings Limited operates as a holding company. The Company, through its subsidiaries, focuses on water business, property development, and investments. Asia Resources Holdings serves clients worldwide.

Eminence Enterprise Limited provides real estates services. The Company engages in property investment and development, as well as invests in listed securities and money lending business. Eminence Enterprise serves investors in in Hong Kong.

Yincheng International Holding Co., Ltd. operates as a property service provider. The Company offers development and sale of residential and commercial properties, leasing of investment properties, and other real estate services. Yincheng International Holding serves clients in China.

Huijing Holdings Company Limited operates as a holding company. The Company, through its subsidiaries, focuses on development of commercial and residential properties. Huijing Holdings serves customers in China.

Land and Houses Public Company Limited develops real estate projects including single-detached homes, townhouses, and condominiums. The Company builds single and attached homes, primarily on land that it develops and improves. Land and Houses also operates its own architectural, engineering, design and construction teams for customer's specific designs and orders.

Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. operates in land development, property management, and infrastructure facilities construction within the Lujiazui Finance and Trade Zone.  The Company also undertakes building and renovation projects.

Shanghai Lujiazui Finance & Trade Zone (600663 CH)

Vincom Retail Joint Stock Company owns and develops shopping malls. The Company offers dining, apparel, gaming, theme park, and entertainment facilities. Vincom Retail serves customers in Vietnam.

Country Garden Services Holdings Company Limited provides real estate development services. The Company develops residential apartments, multi-functional complex buildings, government and public facilities, industrial parks, highway service stations, and schools. Country Garden Services Holdings serves clients in China.

Poly Property Services Co., Ltd. provides property services. The Company offers property management, property projects pre-consultation, post-delivery evaluation and analysis, professional equipment and facilities maintenance, housekeeping, and other services. Poly Property Services provides services in China.

Forestar Group Inc. operates as a residential lot development company. The Company acquires entitled real estate and develops it into finished residential lots for sale to homebuilders with a strategic focus on asset turns. Forestar Group serves customers in the United States.

Red Star Macalline Group Corporation Ltd. operates home decoration and furniture stores. The Company engages in leasing floor areas, providing consultation and management services, sales of merchandise, strategy consultation, home design consultation, and construction service. Red Star Macalline Group Corporation conducts businesses in China.

Shoucheng Holdings Limited operates as an investment management company. The Company provides car parking asset operation and management and urban renewal oriented fund management services. Shoucheng Holdings mainly conducts businesses in Hong Kong.

Aroundtown SA operates as a real estate company. The Company manages and invests in commercial and residential real estate assets from strong fundamentals and growth prospects. Aroundtown serves customers in Europe.

Midea Real Estate Holding Limited operates as a holding company. The Company, through its subsidiaries, provides property management, property sales, property development, and other services.

Swire Pacific Limited operates as a holding company. The Company, through its subsidiaries, focuses on real estate, aviation, beverage, industrial, marine services, trading, and industrial businesses. Swire Pacific operates worldwide.

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Swire Pacific (B) (87 HK)

Hong Kong Buybacks Weekly (Jul 14th): Tencent, AIA, Xiaomi

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jul 7th): Tencent, AIA, Kuaishou Technology

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jun 30th): Tencent, AIA, CK Asset

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

StubWorld: Swire Sells US Coke Ops To Parent

If the discount to NAV was warranted before this latest news, then Swire is a clear buy - there is no justification for assigning a similar...

David Blennerhassett

Hong Kong Buybacks Weekly (Jun 23rd): Tencent's HKD1.6bn Buybacks

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

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