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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> aims to raise around US$8-10bn via selling some of its stake in <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings</a> ’ US IPO.</li>
<li>ARM develops and licences high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Softbank Group (9984 JP) aims to raise around US$8-10bn via selling some of its stake in ARM Holdings ’ US IPO.
ARM develops and licences high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.
In this note, we talk about the not-so-positive aspects of the deal.


ARM Holdings Limited - The Negatives - Tepid Growth and China JV Issues

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> aims to raise around US$8-10bn via selling some of its stake in <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings</a> ’ US IPO.</li>
<li>ARM develops and licences high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Softbank Group (9984 JP) aims to raise around US$8-10bn via selling some of its stake in ARM Holdings ’ US IPO.
ARM develops and licences high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.
In this note, we talk about the positive aspects of the deal.


ARM Holdings Limited - The Positives - Pervasive Global Presence

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX largely unchanged after three days of Equity derisking; Higher US Rates continue to pose a concern; China Property Turmoil Prompts Govt Intervention</li>
<li>JAPAN. NKY Futures +0.1% vs Cash; USDJPY 145.4; Japan's July CPI slows to 3.1%; Govt considering tax break for Cos that lift wages; INCJ to cut Renesas stake to &lt;10%</li>
<li>JAPAN X. Efficiency and Innovation in Vehicle Design: Toyota's New Generative AI Approach. We like this development at Toyota and see multiple long-tailed benefits.</li>
</ul>


OVERSEAS. SPX largely unchanged after three days of Equity derisking; Higher US Rates continue to pose a concern; China Property Turmoil Prompts Govt Intervention
JAPAN. NKY Futures +0.1% vs Cash; USDJPY 145.4; Japan's July CPI slows to 3.1%; Govt considering tax break for Cos that lift wages; INCJ to cut Renesas stake to &lt;10%
JAPAN X. Efficiency and Innovation in Vehicle Design: Toyota's New Generative AI Approach. We like this development at Toyota and see multiple long-tailed benefits.


Ohayo Japan| Pause at End of Brutal Week; JAPAN X: AI-Powered Efficiency: Toyota's Design Revolution

<ul>
<li>OVERSEAS.  Fed Minutes Rekindle Propsects for Futher Rate Hikes;  Equities continue fall as UST Yield continue to rise;  Investors Flee China; EU: Holland in recession; TESLA cuts px in China</li>
<li>JAPAN. NKY Futures -0.4% vs Cash; USDJPY 146.4; USDJPY hits 9 month low - MoF intervention watch on;  Japan Inbound recovers to ~80% vs Pre-COVID;  Japan Corp Profits Rise Again</li>
<li>NUGGET.  Toyota has kept its hydrogen fuel-cell vechicle push alive, despite the fact the world has moved en-mass to battery electric vehicles. We think this side bet is worth keeping.</li>
</ul>


OVERSEAS.  Fed Minutes Rekindle Propsects for Futher Rate Hikes;  Equities continue fall as UST Yield continue to rise;  Investors Flee China; EU: Holland in recession; TESLA cuts px in China
JAPAN. NKY Futures -0.4% vs Cash; USDJPY 146.4; USDJPY hits 9 month low - MoF intervention watch on;  Japan Inbound recovers to ~80% vs Pre-COVID;  Japan Corp Profits Rise Again
NUGGET.  Toyota has kept its hydrogen fuel-cell vechicle push alive, despite the fact the world has moved en-mass to battery electric vehicles. We think this side bet is worth keeping.


Ohayo Japan|Fed Minutes Rekindle Fears of More Hikes; NUGGET: Toyota & FCVs - A Side Bet to Keep ?

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<div><ul><li>Electrovaya is a leading manufacturer of safe and long-lasting LIBs with differentiated performance and safety attributes, according to the company.</li><li>Electrovaya has two primary battery platforms: Infinity and SSB. The Infinity battery platform targets commercial vehicles, including lithium-ion e-forklifts, e-buses, and e-trucks.</li><li>This product has been launched commercially through global partners, including Toyota, Raymond, and Walmart. </li></ul></div>

Electrovaya is a leading manufacturer of safe and long-lasting LIBs with differentiated performance and safety attributes, according to the company.Electrovaya has two primary battery platforms: Infinity and SSB. The Infinity battery platform targets commercial vehicles, including lithium-ion e-forklifts, e-buses, and e-trucks.This product has been launched commercially through global partners, including Toyota, Raymond, and Walmart. 

Weekly Sustainable Investing Surveyor - Week Ended August 11, 2023

Japan

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

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Toyota Motor (7203 JP)

ARM Holdings Limited - The Negatives - Tepid Growth and China JV Issues

Softbank Group (9984 JP) aims to raise around US$8-10bn via selling some of its stake in ARM Holdings ’ US IPO. In this note, we talk about the not...

Sumeet Singh

ARM Holdings Limited - The Positives - Pervasive Global Presence

Softbank Group (9984 JP) aims to raise around US$8-10bn via selling some of its stake in ARM Holdings ’ US IPO. In this note, we talk about the...

Sumeet Singh

Ohayo Japan| Pause at End of Brutal Week; JAPAN X: AI-Powered Efficiency: Toyota's Design Revolution

Equities sell off pauses at end of brutal week; NKY Futures +0.1% vs Cash; USDJPY 145.4; Japan's July CPI slows to 3.1%; Tax breaks for Cos that...

Mark Chadwick

Ohayo Japan|Fed Minutes Rekindle Fears of More Hikes; NUGGET: Toyota & FCVs - A Side Bet to Keep ?

Fed Minutes rekindle spectre of further hikes; NKY Futures -0.4% vs Cash; USDJPY 146.4; USDJPY hits 9 month low - MoF intervention watch on; Japan...

Mark Chadwick

Weekly Sustainable Investing Surveyor - Week Ended August 11, 2023

Electrovaya is a leading manufacturer of safe and long-lasting LIBs with differentiated performance and safety attributes, according to the company.

Water Tower Research

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