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

Ayala land - take the deal as the company needs capital to achieve its 2020 vision

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<p>Ayala Land's (ALI) share have traded well (up 6% from deal price) post the US$350m placement, initiated on 9th Jan 2015. Company has undertaken a series of announcements since the deal (higher capex, new malls) but we've hardly seen any updates from the analysts (just two reports out of ten odd analysts). The analyst updates might only happen with the annual results which are likely to be declared around 18th Feb, in our view the stock will see more upgrades then. Given the company's track record of compounding earnings and its stated targets for 2020 (which guide towards a 20% net income CAGR) we would continue to hold the stock.</p>

Ayala Land's (ALI) share have traded well (up 6% from deal price) post the US$350m placement, initiated on 9th Jan 2015. Company has undertaken a series of announcements since the deal (higher capex, new malls) but we've hardly seen any updates from the analysts (just two reports out of ten odd analysts). The analyst updates might only happen with the annual results which are likely to be declared around 18th Feb, in our view the stock will see more upgrades then. Given the company's track record of compounding earnings and its stated targets for 2020 (which guide towards a 20% net income CAGR) we would continue to hold the stock.

Deals done well but analyst numbers still don't seem to reflect the accelerated capex plans

Ayala Land Inc

Deals done well but analyst numbers still don't seem to reflect the accelerated capex plans