Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium EV brand by <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, aims to raise around US$370m in its US listing.</li>
<li>Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.</li>
<li>We have looked at the company’s past performance in our earlier notes. In this note, we talk about the updates from its recent filings and have a relook at valuations.</li>
</ul>



ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$370m in its US listing.
Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
We have looked at the company’s past performance in our earlier notes. In this note, we talk about the updates from its recent filings and have a relook at valuations.


Zeekr IPO - Missed Targets and Related Party Deals - We Would Stick to the Bottom-End

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

Equity Bottom-Up

<ul><li>Now that Meta, Alphabet, Microsoft, and Amazon all reported their quarters, we now have better context to how their quarters went.</li><li>So, while I will mostly discuss Amazon's earnings in this update, I will briefly touch on some broader themes as well.</li><li>Overall revenue was slightly below the high end of Amazon's guidance.</li></ul>

Now that Meta, Alphabet, Microsoft, and Amazon all reported their quarters, we now have better context to how their quarters went.So, while I will mostly discuss Amazon's earnings in this update, I will briefly touch on some broader themes as well.Overall revenue was slightly below the high end of Amazon's guidance.

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

<ul>
<li>Plunging sales &amp; growing losses, severe price cuts &amp; layoffs, failed FSD, M2 dropped for Robotaxi, and more, confirm that Elon Musk won't fix Tesla's most serious problems—which he created.</li>
<li>He still demands his "unfathomable" pay package be restored, and his feckless, captured Tesla Board is doing exactly what he wants.</li>
<li>But what Tesla’s Board should do, what it should have done years ago, is fire Elon Musk, the single greatest risk to Tesla’s future.</li>
</ul>


Plunging sales &amp; growing losses, severe price cuts &amp; layoffs, failed FSD, M2 dropped for Robotaxi, and more, confirm that Elon Musk won't fix Tesla's most serious problems—which he created.
He still demands his "unfathomable" pay package be restored, and his feckless, captured Tesla Board is doing exactly what he wants.
But what Tesla’s Board should do, what it should have done years ago, is fire Elon Musk, the single greatest risk to Tesla’s future.


Tesla's Won't Fix It's Worst Problems With Elon Musk In Charge

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Google introduces Axion, their new CPU designed for cloud-based workloads</li><li>Facebook unveils second version of RiSC-V based processor for AI workloads</li><li>Marvell announces custom projects with another big hyperscaler, highlighting the trend towards custom silicon solutions for AI workloads</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Google introduces Axion, their new CPU designed for cloud-based workloadsFacebook unveils second version of RiSC-V based processor for AI workloadsMarvell announces custom projects with another big hyperscaler, highlighting the trend towards custom silicon solutions for AI workloadsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 63: The Continued March of Custom Silicon, is it Sustainable?

Event-Driven

<ul>
<li>KKR raised around US$730m via selling some stake in <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a> Japan IPO in Sep 2023. Its remaining stake will be released from its IPO linked lockup soon.</li>
<li>KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>


KKR raised around US$730m via selling some stake in Kokusai Electric (6525 JP) Japan IPO in Sep 2023. Its remaining stake will be released from its IPO linked lockup soon.
KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

United States

Alphabet, Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

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Alphabet (GOOG US)

Amazon 1Q'24 Update

Now that Meta, Alphabet, Microsoft, and Amazon all reported their quarters, we now have better context to how their quarters went.

MBI Deep Dives

Tesla's Won't Fix It's Worst Problems With Elon Musk In Charge

As I warned, Elon Musk's next move is typically worse than the last. News today reports he axed Tesla's supercharger group, new product...

Vicki Bryan

Episode 63: The Continued March of Custom Silicon, is it Sustainable?

In summary, major tech companies are increasingly developing their own custom CPUs and accelerators for cloud-based workloads, with Google, Amazon,...

The Circuit

Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

KKR raised around US$730m via selling some stake in Kokusai Electric (6525 JP) Japan IPO in Sep 2023. Its remaining stake will be released from its...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Zeekr IPO - Missed Targets and Related Party Deals - We Would Stick to the Bottom-End

ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$370m in its US listing. In this note, we look at the recent...

Sumeet Singh

Amazon 1Q'24 Update

Now that Meta, Alphabet, Microsoft, and Amazon all reported their quarters, we now have better context to how their quarters went.

MBI Deep Dives

Tesla's Won't Fix It's Worst Problems With Elon Musk In Charge

As I warned, Elon Musk's next move is typically worse than the last. News today reports he axed Tesla's supercharger group, new product...

Vicki Bryan

Episode 63: The Continued March of Custom Silicon, is it Sustainable?

In summary, major tech companies are increasingly developing their own custom CPUs and accelerators for cloud-based workloads, with Google, Amazon,...

The Circuit

Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

KKR raised around US$730m via selling some stake in Kokusai Electric (6525 JP) Japan IPO in Sep 2023. Its remaining stake will be released from its...

Sumeet Singh