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.

Event-Driven

<ul>
<li>In Jun 2023, CPPIB raised around US$750m via selling a 1.6% stake in <a href="https://www.smartkarma.com/entities/kotak-mahindra-bank-ltd" target="_blank" data-smartkarma-citation="entities:126:1" rel="noopener">Kotak Mahindra Bank (KMB IN)</a>. Prior to that it had sold a similar amount in Mar 2022.</li>
<li>CPPIB will be released from its placement linked lockup early next month.</li>
<li>In this note, we will talk about the lockup dynamics and past deals performance.</li>
</ul>


In Jun 2023, CPPIB raised around US$750m via selling a 1.6% stake in Kotak Mahindra Bank (KMB IN). Prior to that it had sold a similar amount in Mar 2022.
CPPIB will be released from its placement linked lockup early next month.
In this note, we will talk about the lockup dynamics and past deals performance.


Kotak Mahindra Bank - US$1.2 Billion Lockup Release

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry</li>
<li>DBS retains 'buy' rating and $3.85 target price for CapitaLand Investment after $200M Wingate deal</li>
<li>UOB Kay Hian sees Hong Leong Asia as undervalued with two growth engines, advising investors to consider the stock opportunity</li>
</ul>


CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry
DBS retains 'buy' rating and $3.85 target price for CapitaLand Investment after $200M Wingate deal
UOB Kay Hian sees Hong Leong Asia as undervalued with two growth engines, advising investors to consider the stock opportunity


Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

Equity Research, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Equity Research

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/iwow-technology-ltd" target="_blank" data-smartkarma-citation="entities:36147:1" rel="noopener">IWOW Technology Ltd (IWOW SP)</a> is a one-stop end-to-end wireless IoT technology provider specialising in offering vertically integrated solutions and a telecommunications infrastructure solutions provider.</li>
<li>IWOW uses open and proprietary wireless communication technologies to create customized Internet-of-Things (IoT) solutions for consumers which connect devices and sensors to cloud application servers for a variety of applications.</li>
<li>We initiate non-rated coverage on iWOW Technology. The firm has managed to transition away from Tracetogether as its key source of revenue and seeks to grow its recurring revenue.</li>
</ul>



IWOW Technology Ltd (IWOW SP) is a one-stop end-to-end wireless IoT technology provider specialising in offering vertically integrated solutions and a telecommunications infrastructure solutions provider.
IWOW uses open and proprietary wireless communication technologies to create customized Internet-of-Things (IoT) solutions for consumers which connect devices and sensors to cloud application servers for a variety of applications.
We initiate non-rated coverage on iWOW Technology. The firm has managed to transition away from Tracetogether as its key source of revenue and seeks to grow its recurring revenue.


IWOW Technology - Silver Lining in the Silver Generation

SPDR Straits Times Index ETF / Equity Bottom-Up

<ul>
<li>The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.</li>
<li>As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. </li>
<li>We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.</li>
</ul>


The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.
As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. 
We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.


Unveiling Potential Gems Within the Catalist

Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/haw-par-corp-ltd" target="_blank" data-smartkarma-citation="entities:9898:1" rel="noopener">Haw Par Corp (HPAR SP)</a>, with a rich investment portfolio and an attractive consumer health care business, trades at 4% dividend yield but at a steep discount to SOTP value.</li>
<li>The recent rise in share price of <a href="https://www.smartkarma.com/entities/united-overseas-bank-ltd" target="_blank" data-smartkarma-citation="entities:113:1" rel="noopener">UOB (UOB SP)</a> , where it holds a 4.5% stake, has widened this discount.</li>
<li>We believe the management can unlock immense value for share holders by de-merging the consumer healthcare business and publicly listing it.</li>
</ul>



Haw Par Corp (HPAR SP), with a rich investment portfolio and an attractive consumer health care business, trades at 4% dividend yield but at a steep discount to SOTP value.
The recent rise in share price of UOB (UOB SP) , where it holds a 4.5% stake, has widened this discount.
We believe the management can unlock immense value for share holders by de-merging the consumer healthcare business and publicly listing it.


Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

Singapore

UOB-Kay Hian Holdings Limited is an investment holding company whose subsidiaries provide management services.  The Company provides stock broking, futures broking, investment trading, nominee services, margin financing, and research activities.

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UOB Kay Hian Holdings (UOBK SP)

Kotak Mahindra Bank - US$1.2 Billion Lockup Release

In Jun 2023, CPPIB raised around US$750m via selling a 1.6% stake in Kotak Mahindra Bank (KMB IN). Prior to that it had sold a similar amount in...

Sumeet Singh

Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry. DBS retains 'buy' rating and $3.85...

Singapore Market Roundup

IWOW Technology - Silver Lining in the Silver Generation

We initiate non-rated coverage on iWOW Technology. The firm has managed to transition away from Tracetogether as its key source of revenue and...

Evolve Capital Advisory Pte Ltd

Unveiling Potential Gems Within the Catalist

The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our...

Evolve Capital Advisory Pte Ltd

Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...

Devi Subhakesan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Kotak Mahindra Bank - US$1.2 Billion Lockup Release

In Jun 2023, CPPIB raised around US$750m via selling a 1.6% stake in Kotak Mahindra Bank (KMB IN). Prior to that it had sold a similar amount in...

Sumeet Singh

Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry. DBS retains 'buy' rating and $3.85...

Singapore Market Roundup

IWOW Technology - Silver Lining in the Silver Generation

We initiate non-rated coverage on iWOW Technology. The firm has managed to transition away from Tracetogether as its key source of revenue and...

Evolve Capital Advisory Pte Ltd

Unveiling Potential Gems Within the Catalist

The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our...

Evolve Capital Advisory Pte Ltd

Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

​Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...

Devi Subhakesan

Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...