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

Weilong Delicious Global Pre-IPO - The Negatives - Spicy Valuation

ECM Weekly (30th May 2021) - JD Log, Monde Nissin, Weilong Deli, Kanzhun, CARsgen, WM Tech, Novotech

ECM Weekly (6th June 2021) - Kanzhun, Full Truck, Aihuishou, Angelalign, Del Monte PH, WM, Renesas

Budweiser APAC Lock-Up Expiry - If This Lasts a While, ABI Might Need to Sell More

Nongfu Spring IPO - Not Cheap by Any Measure but Is a Quality Name

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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

Weilong Delicious Global Holdi / Equity Capital Markets

Weilong Delicious Global (WDG), a spicy snack food company in China, aims to raise around US$1bn in its Hong Kong IPO. WDG sells products across three categories: seasoned flour products,  vegetable products and Bean-based and other products. According to Frost &amp; Sullivan (F&amp;S), in terms of retail sales value in 2020, WDG ranked first among all spicy snack food enterprises in China, with a market share of 5.7%, and ranked first in each of the seasoned flour product and spicy vegetable snack product categories.Overall revenue growth has been strong at 23% YoY in 2019 and 21.7% in 2020 driven both by an increase in volumes and prices over 2019-20. Vegetable products have been the fastest growing category with a CAGR of 98% over FY18-20.Along with strong revenue growth, WDG gross profit growth has been even stronger, with gross profit growing by 25-31% YoY over 2018-20. PAT grew at 25-38% over 2018-20.

Weilong Delicious Global (WDG), a spicy snack food company in China, aims to raise around US$1bn in its Hong Kong IPO. WDG sells products across three categories: seasoned flour products,  vegetable products and Bean-based and other products. According to Frost &amp; Sullivan (F&amp;S), in terms of retail sales value in 2020, WDG ranked first among all spicy snack food enterprises in China, with a market share of 5.7%, and ranked first in each of the seasoned flour product and spicy vegetable snack product categories.Overall revenue growth has been strong at 23% YoY in 2019 and 21.7% in 2020 driven both by an increase in volumes and prices over 2019-20. Vegetable products have been the fastest growing category with a CAGR of 98% over FY18-20.Along with strong revenue growth, WDG gross profit growth has been even stronger, with gross profit growing by 25-31% YoY over 2018-20. PAT grew at 25-38% over 2018-20.

China Tobacco International (HK) (6055 HK)

Weilong Delicious Global Pre-IPO - The Positives - Fast Growth, Strong Backers