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

Jiayuan International - Didn't like the IPO, We Aren't Fans Now

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Jiayuan International / Equity Capital Markets

Jiayuan International (Jiayuan) plans to raise US$85-145m through an issuance of primary shares in its IPO. The company offers no unique exposure as such, as there are a plethora of China real estate developers listed in Hong Kong to choose from. Moreover the founders entire real estate business isn't being injected in the listco, for reasons that remain far from clear. Pricing at the lower end seems digestible but a negative score on our framework and unconvincing explanations for segregation of private assets inclines us to avoid the deal.

Jiayuan International (Jiayuan) plans to raise US$85-145m through an issuance of primary shares in its IPO. The company offers no unique exposure as such, as there are a plethora of China real estate developers listed in Hong Kong to choose from. Moreover the founders entire real estate business isn't being injected in the listco, for reasons that remain far from clear. Pricing at the lower end seems digestible but a negative score on our framework and unconvincing explanations for segregation of private assets inclines us to avoid the deal.

Jiayuan International IPO - Private Real Estate Is 2x the Size of Business Being Listed