Aequitas Research puts out a weekly update on the deals that have been covered by Smartkarma Insight Providers recently, along with updates for upcoming IPOs.
We will be getting a few more IPOs coming up in Hong Kong in the next few weeks as we head into the end of Q2. As per media reports, ESR Cayman (ESR HK) will likely be seeking approval soon and start pre-marketing next week.Sumeet Singh covered most aspect of the company in his notes:
On the other hand,Frontage,Haitong UniTrust International Leasing(HUIL HK), and CSSC Hong Kong Shipping (0931049D CH) are pre-marketing their IPOs. As usual, we already early coverage on these companies in:
Perhaps the most interesting and noteworthy IPO would be Budweiser Brewing Company APAC's filing (AB Inbev's APAC arm) on Friday. The IPO is expected to raise up to US$7bn as per media reports and Sumeet Singh had already penned down his thoughts in:
Back in Singapore, REITs' listings have bolstered the IPO scene but they were hardly exciting. ARA US Hospitality Trust (ARAUS SP) dipped below its IPO price on debut but closed flat whileEagle Hospitality Trust (EHT SP)'s downsized (a little) and bookbuild was extended to Friday. However, we have yet to hear anything regarding after market closed on Friday.
Despite the muted performance, Singapore continues to be the "go-to" place for REITs listings as Elite Partners Capital was reported to hire banks for its SGX REIT IPO.
In the U.S, things are much more interesting in comparison. Luckin Coffee (LK US) had already opened its books for its US$500m IPO and it was reported that books were covered as of mid-week.Douyu International Holdings (DOYU US) , on the other hand, decided to delay its IPO.
GSX Techedu (GSX US), an online K-12 after-school service provider, also filed for a US$220m IPO this week. We have covered the fundamentals of the company in:
Our overall accuracy rate is 72.1% for IPOs and 63.8% for Placements
(Performance measurement criteria is explained at the end of the note)
Below is a snippet of our IPO tool showing upcoming events for the next week. The IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.
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