Sunac Services (融创服务) IPO - Better Towards the Low-End

Evergrande Services (恒大物业) Pre-IPO - Bad Parenting

Sunac Services (1516 HK) - Listing Tomorrow; Passives Need to Sell at the Close

Sunac Services (融创服务) Pre-IPO -   Peer Comparison and PHIP Updates

Sunac Services (融创服务) Pre-IPO - Promising Growth & Diversifying Away from Sunac Via Acquisitions

KWG Living (合景悠活) Pre-IPO - Strong Growth and Margin Expansion but Overly Reliant on KWG Group

APAC IPOs & Placements

Zhen Zhou, Toh

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

Sunac Services Holdings / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/sunac-services-holdings" target="_blank" data-smartkarma-citation="entities:29239:1" rel="noopener">Sunac Services Holdings (1820476D HK)</a> (SSH) is looking to raise US$1bn from its upcoming Hong Kong IPO.</p>
<p>SSH is the property management arm of Sunac China. As of 31st May, 2020, SSH has a total contracted GFA of 226.8m sqm which covers 126 cities across 29 provinces, autonomous regions, and municipalities. The company has a focus on properties located in first and second-tier cities which make up about 86.2% of total GFA under management.</p>
<p>In this note, we will share our forecasts and assumptions for SSH and look at peer valuation vs where the valuation that SSH may eventually come at.</p>
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<p>Our previous coverage of the IPO:</p>
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<ul style="list-style-type: disc;">
<li><a href="https://www.smartkarma.com/insights/sunac-services-pre-ipo-promising-growth-diversifying-away-from-sunac-via-acquisitions" target="_blank" rel="noopener">Sunac Services (融创服务) Pre-IPO - Promising growth and diversifying away from Sunac China via acquisition </a></li>
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<a href="https://www.smartkarma.com/insights/sunac-services-pre-ipo-peer-comparison-and-phip-updates" target="_blank" data-smartkarma-citation="insights:44638" rel="noopener">Sunac Services (融创服务) Pre-IPO -   Peer Comparison and PHIP Updates</a> </li>
</ul>
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Sunac Services Holdings (1820476D HK) (SSH) is looking to raise US$1bn from its upcoming Hong Kong IPO.
SSH is the property management arm of Sunac China. As of 31st May, 2020, SSH has a total contracted GFA of 226.8m sqm which covers 126 cities across 29 provinces, autonomous regions, and municipalities. The company has a focus on properties located in first and second-tier cities which make up about 86.2% of total GFA under management.
In this note, we will share our forecasts and assumptions for SSH and look at peer valuation vs where the valuation that SSH may eventually come at.

Our previous coverage of the IPO:



Sunac Services (融创服务) Pre-IPO - Promising growth and diversifying away from Sunac China via acquisition 

Sunac Services (融创服务) Pre-IPO -   Peer Comparison and PHIP Updates 



Sunac Services (融创服务) Pre-IPO - Thoughts on Valuation