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

Shenwan Hongyuan (申万宏源) A+H: No Reason for a Valuation Premium

ECM Weekly (13 April 2019) - So-Young, Japan Post Trio, Shenwan Hongyuan, Changliao, Uber

ECM Weekly (18 April 2019) - Duiba Group, MabPharm, Huami, Cofco Meat, Innovent, Times China

Guotai Junan IPO: A Big Player but Relatively Less Liquid, How A-H Premium Plays

Guotai Junan Securities IPO: Second, if Not the Largest, China Security Broker, A-H Premium Examined

China Industrial Securities IPO - High Growth, Limited Track Record, and a Significant Premium

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

Shenwan Hongyuan / Equity Capital Markets

<p>Shenwan Hongyuan filed in November to list in Hong Kong. It is a leading brokerage house in China. With an A-share market capitalization of USD 18 billion, the company plans to issue up to 20% of its shares for an A+H listing. In this insight, we will discuss:</p>
<ul>
<li>Company's history.</li>
<li>Comparison with leading Chinese brokers.</li>
<li>Our thoughts on valuation.</li>
</ul>

Shenwan Hongyuan filed in November to list in Hong Kong. It is a leading brokerage house in China. With an A-share market capitalization of USD 18 billion, the company plans to issue up to 20% of its shares for an A+H listing. In this insight, we will discuss:

Company's history.
Comparison with leading Chinese brokers.
Our thoughts on valuation.


Shenwan Hongyuan (申万宏源) A+H: A Commoditized Broker Business