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

Smartkarma

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

Research Reinvented

Equity Bottom-Up

Philip Morris (PM) plans to sell down its stake in HM Sampoerna (HMSP)&nbsp;in order to comply with the minimum free-float requirement that is set to kick-in starting Jan 2016. PM currently has a 98.18% stake and needs to sell approximately 5.7% to comply with the new requirements. Thus, this could pan out to be a US$1bn+ deal and will likely propel the stock into JCI index, which effectively means no investment managers covering ASEAN/Asia can afford to ignore it.&nbsp;With ASEAN investors tied up with looking at the HMSP deal, we thought it would be interesting to compare HMSP with another regional &nbsp;tobacco behemoth, ITC.While one is shaping up to be a piping hot deal (owing to index weightage, clean governance, etc), the other continues to languish from investor disinterest, even though in the medium to long term both the stocks face similar threats.Below is a series of charts that compares the two regional giants on various metrics.&nbsp;The conclusion remains fairly obvious, as the metrics remain highly skewed&nbsp;towards one participant.&nbsp;

Philip Morris (PM) plans to sell down its stake in HM Sampoerna (HMSP)&nbsp;in order to comply with the minimum free-float requirement that is set to kick-in starting Jan 2016. PM currently has a 98.18% stake and needs to sell approximately 5.7% to comply with the new requirements. Thus, this could pan out to be a US$1bn+ deal and will likely propel the stock into JCI index, which effectively means no investment managers covering ASEAN/Asia can afford to ignore it.&nbsp;With ASEAN investors tied up with looking at the HMSP deal, we thought it would be interesting to compare HMSP with another regional &nbsp;tobacco behemoth, ITC.While one is shaping up to be a piping hot deal (owing to index weightage, clean governance, etc), the other continues to languish from investor disinterest, even though in the medium to long term both the stocks face similar threats.Below is a series of charts that compares the two regional giants on various metrics.&nbsp;The conclusion remains fairly obvious, as the metrics remain highly skewed&nbsp;towards one participant.&nbsp;

Quick note - ITC vs HMSP; Who's the tobacco king? 

ITC Ltd

Quick note - ITC vs HMSP; Who's the tobacco king?