IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Sri Trang Gloves Thailand  / Equity Capital Markets

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<div><p><a href="https://www.smartkarma.com/entities/sri-trang-gloves-thailand-public-company-limited" target="_blank" data-smartkarma-citation="entities:29141:1" rel="noopener">Sri Trang Gloves (STGT TB)</a> is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is seeking to raise $481 million at a fixed price of THB34.00 per share. The IPO period will run between 23-25 June and the first trading day is slated for 2 July.</p></div>
<div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/sri-trang-gloves-ipo-initiation-a-rising-tide" target="_blank" rel="noopener">our initiation note</a>, we stated that Sri Trang has attractive fundamentals. Our valuation analysis suggests that the IPO price is attractive and we would be inclined to participate in the IPO.</p></div></div>
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Sri Trang Gloves (STGT TB) is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is seeking to raise $481 million at a fixed price of THB34.00 per share. The IPO period will run between 23-25 June and the first trading day is slated for 2 July.
In our initiation note, we stated that Sri Trang has attractive fundamentals. Our valuation analysis suggests that the IPO price is attractive and we would be inclined to participate in the IPO.


<p><a href="https://www.smartkarma.com/entities/sri-trang-gloves-thailand-public-company-limited" target="_blank" data-smartkarma-citation="entities:29141:1" rel="noopener">Sri Trang Gloves (STGT TB)</a> is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is seeking to raise $481 million at a fixed price of THB34.00 per share. The IPO period will run between 23-25 June and the first trading day is slated for 2 July.</p><div class="content-highlight"><p>Sri Trang was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. Overall, we think the fundamentals are attractive. </p></div>

Sri Trang Gloves (STGT TB) is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is seeking to raise $481 million at a fixed price of THB34.00 per share. The IPO period will run between 23-25 June and the first trading day is slated for 2 July.Sri Trang was a beneficiary of the corona pandemic resulting in an exceptional 1Q20. Overall, we think the fundamentals are attractive. 

Sri Trang Gloves IPO Initiation: A Rising Tide

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.

<p><a href="https://www.smartkarma.com/entities/sri-trang-gloves-thailand" target="_blank" data-smartkarma-citation="entities:29141:1" rel="noopener">Sri Trang Gloves (STGT TB)</a> aims to raise around US$488m (THB15bn) in its Thailand IPO. The company is globally the third largest glove manufacturer, by capacity. </p>
<p>Its Malaysian peers are up 1-6x over the past three months. Thus, even though this appears to be a domestically focussed listing, in this insight, I'll take a quick look at the deal. </p>

Sri Trang Gloves (STGT TB) aims to raise around US$488m (THB15bn) in its Thailand IPO. The company is globally the third largest glove manufacturer, by capacity. 
Its Malaysian peers are up 1-6x over the past three months. Thus, even though this appears to be a domestically focussed listing, in this insight, I'll take a quick look at the deal. 

Sri Trang Gloves IPO - One to Keep an Eye for +ve Effect of COVID-19

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

<p>The risk of a pullback remains very real, however at this point the weight of the evidence suggests a meaningful pullback is not imminent. We recap important technical levels across market as well as Actionable Themes within the Consumer Staples, Health Care, and Technology sectors.</p>

The risk of a pullback remains very real, however at this point the weight of the evidence suggests a meaningful pullback is not imminent. We recap important technical levels across market as well as Actionable Themes within the Consumer Staples, Health Care, and Technology sectors.

<p>We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the cards. This expectation is supported by price action during prior major waterfall declines in past recessionary periods. With the global economy likely headed for a recession (or worse) we believe it is important to stay with the Sectors that have been outperforming amid the COVID-19 pandemic as we believe they are likely to continue outperforming. That means we are sticking primarily with Staples, Health Care, and Technology. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.</p>

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the cards. This expectation is supported by price action during prior major waterfall declines in past recessionary periods. With the global economy likely headed for a recession (or worse) we believe it is important to stay with the Sectors that have been outperforming amid the COVID-19 pandemic as we believe they are likely to continue outperforming. That means we are sticking primarily with Staples, Health Care, and Technology. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.

Global Equities (ACWI-US) Likely to Retest the March Low

Malaysia

Top Glove Corporation Bhd manufactures a wide range of latex gloves.  The Company's products include latex examination powdered, latex examination powderfree, nitrile examination gloves,soft nitrile examination gloves, vinyl examination gloves, surgical gloves, and other related products.

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Top Glove Corp (TOPG MK)

Sri Trang Gloves IPO: Valuation Insights

Sri Trang Gloves (STGT TB) is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is...

Arun George

Sri Trang Gloves IPO Initiation: A Rising Tide

Sri Trang Gloves (STGT TB) is the third-largest manufacturer of gloves in the world and the largest manufacturer of gloves in Thailand. It is...

Arun George

Sri Trang Gloves IPO - One to Keep an Eye for +ve Effect of COVID-19

Sri Trang Gloves (STGT TB) aims to raise around US$488m (THB15bn) in its Thailand IPO. The company is globally the third largest glove...

Sumeet Singh

Battleground Spot For Global Equities

The risk of a pullback remains very real, however at this point the weight of the evidence suggests a meaningful pullback is not imminent. We recap...

Vermilion Research

Global Equities (ACWI-US) Likely to Retest the March Low

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the...

Vermilion Research

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