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

<a href="https://www.smartkarma.com/entities/cdp-holdings" target="_blank" data-smartkarma-citation="entities:28437:1" rel="noopener">CDP Holdings (CDP US)</a>, a human capital management (HCM) service provider, is looking to raise US$125m through a listing in the U.S.Overall net revenue grew fast, 52% and 28% YoY for FY2018 and 1H FY2019, respectively while gross margin has been stable. However, the company has yet to turn a profit and net loss and adjusted net loss margin have in fact widened as of 1H FY2019.CDP has been reliant on Best Inc’s flexible staffing needs to generate demand. Revenue from Best has accounted for 58% and 47%, total revenue for FY2017 and FY2018 respectively. Furthermore, CDP’s contract with Best is only for a term of one year.

CDP Holdings (CDP US), a human capital management (HCM) service provider, is looking to raise US$125m through a listing in the U.S.Overall net revenue grew fast, 52% and 28% YoY for FY2018 and 1H FY2019, respectively while gross margin has been stable. However, the company has yet to turn a profit and net loss and adjusted net loss margin have in fact widened as of 1H FY2019.CDP has been reliant on Best Inc’s flexible staffing needs to generate demand. Revenue from Best has accounted for 58% and 47%, total revenue for FY2017 and FY2018 respectively. Furthermore, CDP’s contract with Best is only for a term of one year.

CDP Holdings Pre-IPO Review - Highly Reliant on Best Inc.