Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of IPO & Placements for Aequitas Research. At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. 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%. 
Prior to Aequitas. I was heading Content Strategy for Smartkarma, along with covering IPOs & Placement. In an earlier life I have covered ASEAN property and the banking space in India.

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Capital Markets

Linekong Interactive Group / Equity Capital Markets

We would avoid the IPO.At 9-12x p/e the IPO doesn’t offer any discount to listed peers, even at the bottom end of the range. In our view, the company’s current market share is not large enough for it trade at a premium to listed peers. We would avoid the deal given: 1) lackluster performance of recent IPOs in the sector; 2) recent under performance of peers vs the index; 3) the short life cycle of the product; and 4) the hit/miss nature of the product.

We would avoid the IPO.At 9-12x p/e the IPO doesn’t offer any discount to listed peers, even at the bottom end of the range. In our view, the company’s current market share is not large enough for it trade at a premium to listed peers. We would avoid the deal given: 1) lackluster performance of recent IPOs in the sector; 2) recent under performance of peers vs the index; 3) the short life cycle of the product; and 4) the hit/miss nature of the product.

Another new game to play - however, in our view its another one to give a miss