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

Chervon Holdings / Equity Capital Markets

<ul>
<li>Chervon Holdings Limited (CHL) plans to raise around US$500m in its Hong Kong IPO.</li>
<li>CHL is the largest China-based global provider of power tools and outdoor power equipment (OPE). </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Chervon Holdings Limited (CHL) plans to raise around US$500m in its Hong Kong IPO.
CHL is the largest China-based global provider of power tools and outdoor power equipment (OPE). 
In this note, we will talk about the positive aspects of the deal.


Chervon Holdings Pre-IPO - The Positives - Fast Growth, Good Reviews

China Tourism Group Duty Free Corp Ltd / Equity Capital Markets

<ul>
<li><strong>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. </strong></li>
<li>Hong Kong ECM took another blow this week with Weilong Delicious Global (WDG HK) and Biel Crystal (0924581D HK) delaying their US$1bn IPOs.</li>
<li>The silver lining is that H-shares secondary/additional listing will likely still proceed. Weibo Corp (WB US) HK and China Tourism Group Duty Free Corp Ltd (601888 CH) were approved.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. 
Hong Kong ECM took another blow this week with Weilong Delicious Global (WDG HK) and Biel Crystal (0924581D HK) delaying their US$1bn IPOs.
The silver lining is that H-shares secondary/additional listing will likely still proceed. Weibo Corp (WB US) HK and China Tourism Group Duty Free Corp Ltd (601888 CH) were approved.


ECM Weekly (28st Nov 2021) - Weibo HK, China Tourism HK, SenseTime, Gushengtang, Digital Core REIT

Weilong Delicious Global Holdi / Equity Capital Markets

<ul>
<li><strong>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. </strong></li>
<li>India IPO will likely take a breather after <a href="https://www.smartkarma.com/entities/one-97-communications-limited-paytm" target="_blank" data-smartkarma-citation="entities:26149:1" rel="noopener">Paytm (PAYTM IN)</a> disastrous debut.</li>
<li>Hong Kong will be Hong Kong will be where most of the attention will be after getting a wave of approvals in this week. Stay tuned to our coverage.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. 
India IPO will likely take a breather after Paytm (PAYTM IN) disastrous debut.
Hong Kong will be Hong Kong will be where most of the attention will be after getting a wave of approvals in this week. Stay tuned to our coverage.


ECM Weekly (21st Nov 2021) - Weilong, Cloud Village, SF Intra, China Tourism, Asymchem, Gushengtang

<ul>
<li>Weilong Delicious Global (WDG), a spicy snack food company in China, aims to raise around US$1bn in its Hong Kong IPO.</li>
<li>According to F&amp;S, WDG ranked first among spicy snack food enterprises in China, with a market share of 5.7%, and in the seasoned flour product and spicy vegetable snacks categories.</li>
<li>In this note, we will undertake a peer comparison and look at valuations.</li>
</ul>


Weilong Delicious Global (WDG), a spicy snack food company in China, aims to raise around US$1bn in its Hong Kong IPO.
According to F&amp;S, WDG ranked first among spicy snack food enterprises in China, with a market share of 5.7%, and in the seasoned flour product and spicy vegetable snacks categories.
In this note, we will undertake a peer comparison and look at valuations.


Weilong Delicious Global Pre-IPO - Peer Comparison and Valuation

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.

<ul>
<li>In <a href="https://www.smartkarma.com/insights/weilong-delicious-ipo-initiation-tasty-bite" target="_blank" data-smartkarma-citation="insights:60830" rel="noopener">Weilong Delicious IPO Initiation: Tasty Bite</a>, we stated that Weilong offers an appealing mix of robust top-line growth, high margins and strong cash generation.</li>
<li>However, the 1H21 update is mixed. The top-line growth remains strong but at the cost of margins. Margin headwinds are likely to persist in the short term. </li>
<li>In a weak HKEx IPO market, we think that Weilong’s mixed fundamentals will likely struggle to gain investor enthusiasm.   </li>
</ul>


In Weilong Delicious IPO Initiation: Tasty Bite, we stated that Weilong offers an appealing mix of robust top-line growth, high margins and strong cash generation.
However, the 1H21 update is mixed. The top-line growth remains strong but at the cost of margins. Margin headwinds are likely to persist in the short term. 
In a weak HKEx IPO market, we think that Weilong’s mixed fundamentals will likely struggle to gain investor enthusiasm.   


China

WEILONG Delicious Global Holdings Ltd. develops, manufactures, and distributes spicy snack food products. The Company produces seasoned flour products, spicy vegetable snack products, bean based products, and others. WEILONG Delicious Global Holdings markets its products in China and overseas.

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Weilong Delicious Global Holdi (9985 HK)

Chervon Holdings Pre-IPO - The Positives - Fast Growth, Good Reviews

Chervon Holdings Limited (CHL) plans to raise around US$500m in its Hong Kong IPO. The company is the largest China based provider of power and OPE...

Sumeet Singh

ECM Weekly (28st Nov 2021) - Weibo HK, China Tourism HK, SenseTime, Gushengtang, Digital Core REIT

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

ECM Weekly (21st Nov 2021) - Weilong, Cloud Village, SF Intra, China Tourism, Asymchem, Gushengtang

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Weilong Delicious Global Pre-IPO - Peer Comparison and Valuation

Weilong Delicious Global (WDG), a spicy snack food company in China, aims to raise around US$1bn in its Hong Kong IPO. In this note, we undertake a...

Sumeet Singh

Weilong Delicious IPO: Mixed Update

Weilong is pre-marketing for an HKEx IPO to raise up to $1 billion. The PHIP discloses a mixed 1H21 update as strong top-line growth came at the...

Arun George

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