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

Nippon Paint Holdings / Equity Capital Markets

<ul>
<li>A group of shareholders of Nippon Paint Holdings, plan to raise around US$1.4bn via selling nearly 6% of the stock.</li>
<li>We covered most aspects of the deal in our previous note, <a href="https://www.smartkarma.com/insights/nippon-paint-holdings-placement-nothing-particularly-exciting-needs-to-correct" target="_blank" rel="noopener">Nippon Paint Holdings Placement - Nothing particularly exciting, needs to correct</a>.</li>
<li>In this note, we will talk about the updates and share price movement since then.</li>
</ul>


A group of shareholders of Nippon Paint Holdings, plan to raise around US$1.4bn via selling nearly 6% of the stock.
We covered most aspects of the deal in our previous note, Nippon Paint Holdings Placement - Nothing particularly exciting, needs to correct.
In this note, we will talk about the updates and share price movement since then.


Nippon Paint Placement Quick Update - Better Positioned After Delivering the Largest Correction

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>November semiconductor revenues set a record for the highest shipment month in the history of the industry</li>
<li>Year-To-Date revenues and unit shipments, excluding December, are still higher than any full year in the industry's history</li>
<li>There is plenty of room for this to continue, barring a global economic meltdown</li>
</ul>


November semiconductor revenues set a record for the highest shipment month in the history of the industry
Year-To-Date revenues and unit shipments, excluding December, are still higher than any full year in the industry's history
There is plenty of room for this to continue, barring a global economic meltdown


November Semiconductors Once Again Set Records

<ul>
<li>2022 is likely to be a very good year for semiconductors, with 6% revenue growth following outstanding 2021 growth of ~22%.</li>
<li>Demand is solid, and shortages are driving prices higher.  Since revenues are demand times price, all signs are positive.</li>
<li>The factors that caused the last collapse, in 2019, are not in place this time, indicating that a downturn is very unlikely.</li>
</ul>


2022 is likely to be a very good year for semiconductors, with 6% revenue growth following outstanding 2021 growth of ~22%.
Demand is solid, and shortages are driving prices higher.  Since revenues are demand times price, all signs are positive.
The factors that caused the last collapse, in 2019, are not in place this time, indicating that a downturn is very unlikely.


2022 High Conviction - Modest Semiconductor Growth

<ul>
<li>October semiconductor revenues have been released setting a new record</li>
<li>The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend</li>
<li>The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.</li>
</ul>


October semiconductor revenues have been released setting a new record
The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend
The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.


October Semi Revenues Released: Even Farther Above Trend

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

LVMH Moet Hennessy Louis Vuitton SE / Technical Analysis

<ul>
<li>Select regions such as the US, Europe, Japan, and India are bullish, while others are not -- namely Hong Kong and China.</li>
<li>Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the MSCI ACWI Discretionary Sector is on the cusp of a breakout. </li>
<li>We highlight several buy opportunities within global Technology and Consumer Discretionary.</li>
</ul>


Select regions such as the US, Europe, Japan, and India are bullish, while others are not -- namely Hong Kong and China.
Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the MSCI ACWI Discretionary Sector is on the cusp of a breakout. 
We highlight several buy opportunities within global Technology and Consumer Discretionary.


Add To Global Technology and Consumer Discretionary

Japan

Renesas Electronics Corporation researches, develops, designs and manufactures electronic components such as semiconductors and integrated devices.

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Renesas Electronics (6723 JP)

Nippon Paint Placement Quick Update - Better Positioned After Delivering the Largest Correction

A group of shareholders of Nippon Paint Holdings, plan to raise around US$1.4bn via selling nearly 6% of the stock. In this note we talk about the...

Sumeet Singh

November Semiconductors Once Again Set Records

The semiconductor market once again set records in November, with 2021 revenues and unit shipments out-stripping all prior record years in its...

Jim Handy

2022 High Conviction - Modest Semiconductor Growth

Can today's semiconductor revenue growth continue, or will the market undergo another collapse? Objective Analysis calls for 6% growth, and shows...

Jim Handy

October Semi Revenues Released: Even Farther Above Trend

October semiconductor revenues set a record once again, making the 2021 semiconductor market one to remember. A collapse appears unlikely in the...

Jim Handy

Add To Global Technology and Consumer Discretionary

Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the ACWI Discretionary Sector is on the cusp of a...

Vermilion Research

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