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

Tongcheng Travel Holdings  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/27363" target="_blank" data-smartkarma-citation="entities:27363:1">Tongcheng-Elong Holdings Ltd (780 HK)</a> (TCEL) raised just over US$180m at HK$9.80 per share, close to the bottom end of its IPO price range. We have previously analyzed the IPO in our earlier insights, <a href="https://www.smartkarma.com/insights/tongcheng-elong-pre-ipo-review-a-force-to-be-reckoned-with" target="_blank" data-smartkarma-citation="insights:22825">Tongcheng-ELong (同程艺龙) Pre-IPO Review - A Force to Be Reckoned With</a> and <a href="https://www.smartkarma.com/insights/tongcheng-elong-ipo-review-smaller-player-with-lower-profitability-margins" target="_blank" data-smartkarma-citation="insights:25894">Tongcheng-ELong (同程艺龙) IPO Review - Smaller Player with Lower Profitability Margins</a></p>
<p>In this insight, we will update on the deal dynamics, implied valuation and include a valuation sensitivity table for implied FY2019E P/E ratio at different price levels and growth assumptions</p>

Tongcheng-Elong Holdings Ltd (780 HK) (TCEL) raised just over US$180m at HK$9.80 per share, close to the bottom end of its IPO price range. We have previously analyzed the IPO in our earlier insights, Tongcheng-ELong (同程艺龙) Pre-IPO Review - A Force to Be Reckoned With and Tongcheng-ELong (同程艺龙) IPO Review - Smaller Player with Lower Profitability Margins
In this insight, we will update on the deal dynamics, implied valuation and include a valuation sensitivity table for implied FY2019E P/E ratio at different price levels and growth assumptions

Tongcheng-ELong (同程艺龙) Post-IPO Trading Update - Stronger than Expected Listing Performance