APAC IPOs & Placements, Aequitas Research

Clarence Chu

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%.

APAC IPOs & Placements

ECM Weekly (26th Mar 2023) - Meituan, Rakuten Bank, SBI, Harita, Trial, DPC, Onewo, Leap, Growatt

ECM Weekly (2nd Apr 2023) - Meituan, Rakuten Bank, SBI, Merdeka, ZJLD, Trial Hol, DPC, WCP, MLT

Meituan (3690 HK): 1Q23, Real Operating Profit Turned Positive After Nine Quarters

Seazen Group Placement - Won’t Do Much to Debt Profile, However Momentum Has Been Very Strong

CIFI Holdings Placement - Won’t Do Much to Alleviate Debt Profile. Latest Deal Underwater

China Vanke Placement - A Placement Was Expected, Unclear if It Was This One

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

Gravity Works As WeWork Doesn't; Now Plan B

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.

Event-Driven

<ul>
<li>Having first introduced the three red line guidance in late 2020, the government has begun shifting its stance, and relaxing some of its regulatory oversight.</li>
<li>In this note, we looked at recent news developments and how some larger developers fared against the three red lines criterion.</li>
<li>Of the large developers we looked at, there are a few names which stand out which could potentially do a capital raising given their financial standing. </li>
</ul>


Having first introduced the three red line guidance in late 2020, the government has begun shifting its stance, and relaxing some of its regulatory oversight.
In this note, we looked at recent news developments and how some larger developers fared against the three red lines criterion.
Of the large developers we looked at, there are a few names which stand out which could potentially do a capital raising given their financial standing. 


China Overseas Land & Investment (688 HK)

Lvgem China Real Estate Investment Co (95 HK)

Powerlong Commercial Management Holdings (9909 HK)

Shimao Services Holdings Limited (873 HK)

Chinese Developers’ Overview - Shift in Sentiment but a Few Still Needs Some Equity

Evergrande

Chinese Developers’ Overview - Shift in Sentiment but a Few Still Needs Some Equity