Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

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.

Equity Capital Markets

Qiniu Cloud, a leading Platform as a service (PaaS) provider in China, is looking to raise up to USD 500 million via a US listing. In this note, we look at the company's main value proposition of its media and data PaaS products. We think the company does have an interesting product offering that benefits the customers. Having said that we think the company's growth has been lacklustre as compared to the industry average. We are also concerned about its concentration in the live video streaming market. Its customer base for the data segment has not been expanding. The company has a decent investor backing but we think given its small size and slow growth, it should trade at a discount to listed cloud peers.

Qiniu Cloud, a leading Platform as a service (PaaS) provider in China, is looking to raise up to USD 500 million via a US listing. In this note, we look at the company's main value proposition of its media and data PaaS products. We think the company does have an interesting product offering that benefits the customers. Having said that we think the company's growth has been lacklustre as compared to the industry average. We are also concerned about its concentration in the live video streaming market. Its customer base for the data segment has not been expanding. The company has a decent investor backing but we think given its small size and slow growth, it should trade at a discount to listed cloud peers.

Qiniu Cloud (七牛云) Pre-IPO: PaaS Doesn't Warrant a Premium