Bank of Queensland Placement - Discount Looks Enticing but the Deal Appears Opportunistic

Westpac Placement: An Expected EPS Dilutive Deal but Discount Is Deep

Macquarie Group Placement - Small in Relative Terms but Seems Opportunistic

APAC IPOs & Placements

Zhen Zhou, Toh

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

Bendigo And Adelaide Bank / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/bendigo-and-adelaide-bank" target="_blank" data-smartkarma-citation="entities:682:1" rel="noopener">Bendigo And Adelaide Bank (BEN AU)</a> is looking to raise about US$168m in its placement to support growth and increase buffer for CET1 capital ratio requirements.</p><p>Overall, the deal scored poorly on our framework owing to the weak earnings momentum, poor track record but cushioned by its undemanding valuation and decent price momentum of late. Recent results demonstrated some improvement but the cut in dividend weighs on near-term sentiment.</p>

Bendigo And Adelaide Bank (BEN AU) is looking to raise about US$168m in its placement to support growth and increase buffer for CET1 capital ratio requirements.Overall, the deal scored poorly on our framework owing to the weak earnings momentum, poor track record but cushioned by its undemanding valuation and decent price momentum of late. Recent results demonstrated some improvement but the cut in dividend weighs on near-term sentiment.

Bendigo and Adelaide Bank Placement - Cutting Dividend to a Sustainable Level