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

Westpac Raises AUD 3.5 billion and Prereleases Fiscal 2015 Earnings in Line with Expectations

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Westpac plans to raise A$3.5bn through a rights issue. As a part of the rights issue the USD82m shortfall book build for the institutional entitlements was launched a few hours ago and will close tomorrow.&nbsp;We would be inclined to bid at a suitable discount, given: The deal seems well anticipated with analyst having flagged the need for a capital raise earlier; proceeds will be used to sure up Tier-1 capital; earnings were in-line with no major negative surprises; and the deal scores a positive score on our framework.However, as per Smartkarma proprietary IPO Analyzer (to be made available to our client shortly) Australian bank deals, so far this year, have been done at a tight discount but have failed to provide adequate returns in the short-term. Thus, we would advice investors to bid for the shortfall with an adequate buffer.&nbsp;

Westpac plans to raise A$3.5bn through a rights issue. As a part of the rights issue the USD82m shortfall book build for the institutional entitlements was launched a few hours ago and will close tomorrow.&nbsp;We would be inclined to bid at a suitable discount, given: The deal seems well anticipated with analyst having flagged the need for a capital raise earlier; proceeds will be used to sure up Tier-1 capital; earnings were in-line with no major negative surprises; and the deal scores a positive score on our framework.However, as per Smartkarma proprietary IPO Analyzer (to be made available to our client shortly) Australian bank deals, so far this year, have been done at a tight discount but have failed to provide adequate returns in the short-term. Thus, we would advice investors to bid for the shortfall with an adequate buffer.&nbsp;

Westpac Banking

Another one bites the bullet... again