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

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (1416286D IJ)</a>, an Indonesian copper-gold producer, has launched an IDX IPO to raise US$860 million. Bookbuilding runs from 31 May to 16 June.</li>
<li>Amman’s Batu Hijau mine when combined with the Elang project has the fifth largest copper equivalent reserves in the world, according to Wood Mackenzie.</li>
<li>The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability, leading cost competitiveness and cash generation.</li>
</ul>



Amman Mineral Internasional (1416286D IJ), an Indonesian copper-gold producer, has launched an IDX IPO to raise US$860 million. Bookbuilding runs from 31 May to 16 June.
Amman’s Batu Hijau mine when combined with the Elang project has the fifth largest copper equivalent reserves in the world, according to Wood Mackenzie.
The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability, leading cost competitiveness and cash generation.


Amman Mineral Internasional IPO: The Investment Case

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Vale had a bad quarter with revenues and earnings well below expectations.</li><li>The company saw a decent performance in iron ore production, particularly at S11D.</li><li>Although there was a gap between production and sales, Vale’s management expects to offset the impact in the second half of the year.</li></ul>

Vale had a bad quarter with revenues and earnings well below expectations.The company saw a decent performance in iron ore production, particularly at S11D.Although there was a gap between production and sales, Vale’s management expects to offset the impact in the second half of the year.

Vale S.A.: Energy Transition Metals Business Could Save The Day? – Key Drivers

<ul><li>Vale SA delivered an all-around beat in its last results with a strong performance in iron ore solutions and a strong price realization.</li><li>Also, in Vale’s energy transition material business, the nickel production was steady, with production and sales up, driven by the excellent performance of its Sudbury mines which successfully delivered very high production rates.</li><li>Vale is developing a first-of-its-kind plant in North America and Canada to produce nickel sulphate from low-carbon nickel from Canadian refineries.</li></ul>

Vale SA delivered an all-around beat in its last results with a strong performance in iron ore solutions and a strong price realization.Also, in Vale’s energy transition material business, the nickel production was steady, with production and sales up, driven by the excellent performance of its Sudbury mines which successfully delivered very high production rates.Vale is developing a first-of-its-kind plant in North America and Canada to produce nickel sulphate from low-carbon nickel from Canadian refineries.

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.

Merdeka Battery Materials / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/merdeka-battery-materials" target="_blank" data-smartkarma-citation="entities:36864:1" rel="noopener">Merdeka Battery Materials (2012725D IJ)</a> raised around US$591m in its Indonesian IPO.</li>
<li>It has the largest resource globally in terms of contained nickel at the Konawe Nickel Mine (the SCM Mine), according to Wood Mackenzie. </li>
<li>In this note, we will talk about the trading dynamics and valuation.</li>
</ul>



Merdeka Battery Materials (2012725D IJ) raised around US$591m in its Indonesian IPO.
It has the largest resource globally in terms of contained nickel at the Konawe Nickel Mine (the SCM Mine), according to Wood Mackenzie. 
In this note, we will talk about the trading dynamics and valuation.


Merdeka Battery Materials IPO Trading - Earnings Might Be Long Drawn Out but Should Perform Fine

Clarence Chu

Trimegah Bangun Persada Tbk PT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pt-trimegah-bangun-persada-tbk-harita-nickel" target="_blank" data-smartkarma-citation="entities:36826:1" rel="noopener">PT Trimegah Bangun Persada Tbk (Harita Nickel) (2230010D IJ)</a> raised around US$660m in its Indonesian IPO.</li>
<li>PT Trimegah Bangun Persada Tbk (Harita Nickel, HN) is a vertically integrated pure-play nickel company operating on Obi Island, Indonesia.</li>
<li>In this note, we will talk about the trading dynamics and valuation.</li>
</ul>



PT Trimegah Bangun Persada Tbk (Harita Nickel) (2230010D IJ) raised around US$660m in its Indonesian IPO.
PT Trimegah Bangun Persada Tbk (Harita Nickel, HN) is a vertically integrated pure-play nickel company operating on Obi Island, Indonesia.
In this note, we will talk about the trading dynamics and valuation.


Harita Nickel IPO Trading - Quality Names in the Bookbuild Should Aid Sentiment

Brazil

Vale S.A. produces and sells iron ore, pellets, manganese, alloys, gold, nickel, copper, kaolin, bauxite, alumina, aluminum, and potash. The Company is based in Brazil, where it owns and operates railroads and maritime terminals.

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Vale (VALE3 BZ)

Amman Mineral Internasional IPO: The Investment Case

The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability,...

Arun George

Vale S.A.: Energy Transition Metals Business Could Save The Day? – Key Drivers

Vale had a bad quarter with revenues and earnings well below expectations. The company saw a decent performance in iron ore production,...

Baptista Research

Vale SA.: Cost Reduction

Vale SA delivered an all-around beat in its last results with a strong performance in iron ore solutions and a strong price realization. Also, in...

Baptista Research

Merdeka Battery Materials IPO Trading - Earnings Might Be Long Drawn Out but Should Perform Fine

Merdeka Battery Materials (2012725D IJ) raised around US$591m in its Indonesian IPO. In this note, we will talk about the trading dynamics and...

Ethan Aw

Harita Nickel IPO Trading - Quality Names in the Bookbuild Should Aid Sentiment

PT Trimegah Bangun Persada Tbk (Harita Nickel) (2230010D IJ) raised around US$660m in its Indonesian IPO. In this note, we will talk about the...

Clarence Chu

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