APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Fusion Micro Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fusion-micro-finance-ltd" target="_blank" data-smartkarma-citation="entities:36450:1" rel="noopener">Fusion Micro Finance Ltd (1053199D IN) </a>is looking to raise about US$250m in its upcoming India IPO. </li>
<li>Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.</li>
<li>In this note, we talk about the positive aspects of the deal. </li>
</ul>



Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. 
Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.
In this note, we talk about the positive aspects of the deal. 


Fusion Micro Finance Pre-IPO - The Positives - Inspiring as a Social Cause

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Five Star Business Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/five-star-business-finance" target="_blank" data-smartkarma-citation="entities:35238:1" rel="noopener">Five-Star Business Finance (0958461D IN)</a> is looking to raise around US$300m in its upcoming India IPO. The deal will be run by ICICI Securities, Edelweiss, Kotak, and Nomura.</li>
<li>Five-Star Business is a non-banking financial company (NBFC-ND-SI) that provides secured business loans to micro-entrepreneurs and self-employed individuals.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Five-Star Business Finance (0958461D IN) is looking to raise around US$300m in its upcoming India IPO. The deal will be run by ICICI Securities, Edelweiss, Kotak, and Nomura.
Five-Star Business is a non-banking financial company (NBFC-ND-SI) that provides secured business loans to micro-entrepreneurs and self-employed individuals.
In this note, we talk about the positive aspects of the deal.


Five-Star Business Pre-IPO - The Positives - Fast Growth, Juicy Margins and Strong Backers

<ul>
<li>I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of <a href="https://www.smartkarma.com/entities/thai-union-group-pcl" target="_blank" data-smartkarma-citation="entities:161:1" rel="noopener">Thai Union Group (TU TB)</a>. </li>
<li>As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of Thai Union Group (TU TB). 
As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.
In this note, we talk about the positive aspects of the deal.


I-Tail Corporation Pre-IPO - The Positives - For the Pampered Pets

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>The STI’s 2.4% total return in 3Q22 was mainly driven by the trio of DBS, OCBC and UOB, which averaged a 7.3% total return over the quarter.</li><li>During the quarter, the trio saw S$969 million of combined net fund inflows with the net fund inflows to DBS and OCBC more than offsetting the net fund outflows booked by UOB.</li><li>Focusing on Singapore’s 200 most traded stocks for the first nine months of 2022, that are currently listed for trading, the Sectors that saw the next highest net fund inflows in 3Q22 were Telecommunications and Consumer Cyclicals.</li></ul>

The STI’s 2.4% total return in 3Q22 was mainly driven by the trio of DBS, OCBC and UOB, which averaged a 7.3% total return over the quarter.During the quarter, the trio saw S$969 million of combined net fund inflows with the net fund inflows to DBS and OCBC more than offsetting the net fund outflows booked by UOB.Focusing on Singapore’s 200 most traded stocks for the first nine months of 2022, that are currently listed for trading, the Sectors that saw the next highest net fund inflows in 3Q22 were Telecommunications and Consumer Cyclicals.

Singapore Net Fund Inflows in 3Q22 Led by Banks

<ul><li>With one week remaining for 3Q22, the STI has booked a 5.5% total return for the quarter, outpacing the FTSE Developed Index’s 1.3% decline.</li><li>The STI’s five largest weights – DBS, OCBC, UOB, Singtel and Jardine Matheson make up 56% of the STI weights, and have averaged 9% QTD total returns, bringing their average YTD total return to 10%.</li><li>In Singapore, the STI has generated a 7% total return in the 2022 YTD, with the five biggest weights of the Index averaging 10% total returns.</li></ul>

With one week remaining for 3Q22, the STI has booked a 5.5% total return for the quarter, outpacing the FTSE Developed Index’s 1.3% decline.The STI’s five largest weights – DBS, OCBC, UOB, Singtel and Jardine Matheson make up 56% of the STI weights, and have averaged 9% QTD total returns, bringing their average YTD total return to 10%.In Singapore, the STI has generated a 7% total return in the 2022 YTD, with the five biggest weights of the Index averaging 10% total returns.

Five STI Heavyweights Book 9% QTD Total Return

Singapore

United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

UOB (UOB SP)

Five-Star Business Pre-IPO - The Positives - Fast Growth, Juicy Margins and Strong Backers

Five-Star Business Finance is looking to raise around US$300m in its upcoming India IPO. The company has been growing fast and has maintained...

Sumeet Singh

I-Tail Corporation Pre-IPO - The Positives - For the Pampered Pets

I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of...

Sumeet Singh

Singapore Net Fund Inflows in 3Q22 Led by Banks

The STI’s 2.4% total return in 3Q22 was mainly driven by the trio of DBS, OCBC and UOB, which averaged a 7.3% total return over the...

Singapore Exchange Ltd (SGX)

Five STI Heavyweights Book 9% QTD Total Return

With one week remaining for 3Q22, the STI has booked a 5.5% total return for the quarter, outpacing the FTSE Developed Index’s 1.3% decline. The...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Fusion Micro Finance Pre-IPO - The Positives - Inspiring as a Social Cause

Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. In this note, we talk about the positive...

Ethan Aw

Five-Star Business Pre-IPO - The Positives - Fast Growth, Juicy Margins and Strong Backers

Five-Star Business Finance is looking to raise around US$300m in its upcoming India IPO. The company has been growing fast and has maintained...

Sumeet Singh

I-Tail Corporation Pre-IPO - The Positives - For the Pampered Pets

I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of...

Sumeet Singh

Singapore Net Fund Inflows in 3Q22 Led by Banks

The STI’s 2.4% total return in 3Q22 was mainly driven by the trio of DBS, OCBC and UOB, which averaged a 7.3% total return over the...

Singapore Exchange Ltd (SGX)

Five STI Heavyweights Book 9% QTD Total Return

With one week remaining for 3Q22, the STI has booked a 5.5% total return for the quarter, outpacing the FTSE Developed Index’s 1.3% decline. The...

Singapore Exchange Ltd (SGX)