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

ECM Weekly (8th August 2021) - Li Auto, Cloud Village, CarTrade, Kakao Bank, Bukalapak, Huitongda

ECM Weekly (15th August 2021) - SH HeartCare, Acotec, Hyundai Heavy Ind, RLC REIT, Coupang, Devyani

ByteDance (字节跳动) Pre-IPO: Global Ambition Meets Regulatory Challenges

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

ByteDance (字节跳动) Pre-IPO: A Winner in 2020 Chinese New Year

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

ByteDance IPO is one of the major listings by Chinese TMT companies that we are looking forward to. The company was valued at USD 75 billion in a pre-IPO round in October 2018 and was valued at USD 100 billion in the private transactions in May 2020. Recent media report also mentioned that it is valued at USD 425 billion. In our previous reports, we covered the company’s main products and its recent financials and user data in China. Although ByteDance records most of its revenues from China, one should not underestimate its potential from overseas expansion. ByteDance’s flagship app, TikTok, has become a global phenomenon. Competitors such as Facebook have not been successful in taking market share from TikTok. In our opinion, ByteDance is the most successful Chinese TMT company in the overseas market. Towards the end of 2020, there has been political turmoil between China and the US which put the ByteDance's listing at risk. Recently the company has disclosed brief financial information for 2020, together with operating data obtained from third party data analytics, we would like to provide a quick comparison of how the company fared against its key competitor, Kuaishou.

ByteDance IPO is one of the major listings by Chinese TMT companies that we are looking forward to. The company was valued at USD 75 billion in a pre-IPO round in October 2018 and was valued at USD 100 billion in the private transactions in May 2020. Recent media report also mentioned that it is valued at USD 425 billion. In our previous reports, we covered the company’s main products and its recent financials and user data in China. Although ByteDance records most of its revenues from China, one should not underestimate its potential from overseas expansion. ByteDance’s flagship app, TikTok, has become a global phenomenon. Competitors such as Facebook have not been successful in taking market share from TikTok. In our opinion, ByteDance is the most successful Chinese TMT company in the overseas market. Towards the end of 2020, there has been political turmoil between China and the US which put the ByteDance's listing at risk. Recently the company has disclosed brief financial information for 2020, together with operating data obtained from third party data analytics, we would like to provide a quick comparison of how the company fared against its key competitor, Kuaishou. 

ByteDance Pre-IPO: How Does It Fare Against Kuaishou as It Gets Closer to a Listing