Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Athaporn served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 22 years, of which 19 were in research and 9 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006.

Apart from IPO Radar, which focuses on future listings, MCorp Review also performs financial advisory services for TKC Services and provides 11 other on-going thematic series ranked by frequency in descending order, namely:

1) Snippets (news-driven);
2) Sathorn Series (financial services);
3) Silicon Stories (technology); 
4) Thai-Coons (billionaire origin series);
5) Reality Check (data-driven, investigative);
6) Thai Media Spotlight;
7) Political Pit Stop; 
8) Telecom Review; 
9) Thai Macro Watch (read-through from foreign events);  
10) Small Cap Diary; and
11) Property Grid

There are also 3 limited-time series driven by specific events or locations, namely:
1) Thai Corona Crisis;
2) South Series; and
3) Mechanics and Details (deal forensics).

IPO Radar: Grand Prix, the Guys Who Bought Us Motor Show Yo!!

The Autobot Update (November): Thai Car Exports in New Heights!

Mc Group: So This Is What Rock Bottom Looks Like

IPO Radar: Do Day Dream, the Turbo-Charged Snail Cream Startup

Hidden Tigers (Season Finale): Thailand's Instant Noodle King

IPO Radar: ICN, Nokia Siemens' Best Buddy

Equity Capital Markets

Since Phil Knight wrote his autobiography Shoe Dog, Nike went out to invest in Michael Jordan's shoe company Jordan and acquired rival Converse. In Thailand, Converse's exclusive agent is Rich Sport, which has recently filed for IPO. While Converse is not necessarily as strong a brand as Nike or Adidas, it is sold in more than 150 stores nationwide. We estimate that the IPO range is very wide between Bt4.3/sh to Bt9/sh depending on whether you use DCF or relative valuation, but suspect that it will be priced in the high range, if the IPO happens in the bullish late 2017 period.Though not fans of this brand, we might be willing to participate in the IPO if the indicative price comes in under Bt9/sh. After all, you don't have to like the cook to enjoy the food, and Liu Pei used to be a shoemaker before he became Emperor of Shu (...Yes, that's Shu, not shoe).

Since Phil Knight wrote his autobiography Shoe Dog, Nike went out to invest in Michael Jordan's shoe company Jordan and acquired rival Converse. In Thailand, Converse's exclusive agent is Rich Sport, which has recently filed for IPO. While Converse is not necessarily as strong a brand as Nike or Adidas, it is sold in more than 150 stores nationwide. We estimate that the IPO range is very wide between Bt4.3/sh to Bt9/sh depending on whether you use DCF or relative valuation, but suspect that it will be priced in the high range, if the IPO happens in the bullish late 2017 period.Though not fans of this brand, we might be willing to participate in the IPO if the indicative price comes in under Bt9/sh. After all, you don't have to like the cook to enjoy the food, and Liu Pei used to be a shoemaker before he became Emperor of Shu (...Yes, that's Shu, not shoe).

IPO Radar: Rich Sport, the Thai "Shoe Dog"

Rich Sport PCL

IPO Radar: Rich Sport, the Thai "Shoe Dog"