Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

PICC P&C Placement - Small Clean-Up Deal with Little Discount

PICC P&C - Almost a Clean-Up, but It Still Might Be Too Big to Swallow

Fundamentally a Buy but the Deal Is Too Large and near Term Growth Remains Uncertain

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

People's Insurance (PICC) / Equity Capital Markets

<p>AIG is selling its USD 450 million stakes in PICC today after market close. The deal scores negatively in our ECM Framework. </p><p>We like the fact that it will increase the free-float significantly and hence there will be a liquidity event, meanwhile, we are also concerned that the deal size is large compared to its liquidity.</p>

AIG is selling its USD 450 million stakes in PICC today after market close. The deal scores negatively in our ECM Framework. We like the fact that it will increase the free-float significantly and hence there will be a liquidity event, meanwhile, we are also concerned that the deal size is large compared to its liquidity.

AIG Sells PICC: A Clean-Up Trade Cum Liquidity Event