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

<a href="https://www.smartkarma.com/entities/27446" target="_blank" data-smartkarma-citation="entities:27446:1">Aston Martin Holdings UK Ltd (8444762Z LN)</a> plans to list in the UK, in what is set to be the first listing under UK's new IPO disclosure rules. The new rules are meant to allow equal access to management and other company information for independent analysts. Almost a year ago, we were one of the proponents of such a change to the process. You can read our earlier insights on this topic here: <a href="https://www.smartkarma.com/insights/breaking-the-bank-time-to-end-the-ipo-rort" target="_blank">Breaking the Bank: Time to End the IPO Rort</a>; and <a href="https://www.smartkarma.com/insights/breaking-the-bank-time-to-end-the-ipo-rort-our-official-response" target="_blank">Breaking the Bank: Time to End the IPO Rort - Our Official Response</a>. Thus, we were only too eager to lend our independent voice for the first such deal under the new rules.Coming back to the deal,  the company has been making good progress under its second century plan with its latest models being well received by the market. In addition, its customisation service and specials seem to be doing well to add to the earnings momentum. Its planned SUV launch next year should keep the growth going. Our main gripe remains AML's very high R&amp;D capitalisation, which seems to be a lot higher than peers, although direct comparisons remain difficult owing to different business models. Nonetheless, the high proportion of intangibles in total assets too is well ahead of its peer group.

Aston Martin Holdings UK Ltd (8444762Z LN) plans to list in the UK, in what is set to be the first listing under UK's new IPO disclosure rules. The new rules are meant to allow equal access to management and other company information for independent analysts. Almost a year ago, we were one of the proponents of such a change to the process. You can read our earlier insights on this topic here: Breaking the Bank: Time to End the IPO Rort; and Breaking the Bank: Time to End the IPO Rort - Our Official Response. Thus, we were only too eager to lend our independent voice for the first such deal under the new rules.Coming back to the deal,  the company has been making good progress under its second century plan with its latest models being well received by the market. In addition, its customisation service and specials seem to be doing well to add to the earnings momentum. Its planned SUV launch next year should keep the growth going. Our main gripe remains AML's very high R&amp;D capitalisation, which seems to be a lot higher than peers, although direct comparisons remain difficult owing to different business models. Nonetheless, the high proportion of intangibles in total assets too is well ahead of its peer group. 

Aston Martin Lagonda Pre-IPO Under the New IPO Process - Lots to like Apart from R&D Capitalisation

United Kingdom

Aston Martin Lagonda Global Holdings PLC operates as a holding company. The Company, through its subsidiaries, designs and manufactures automobiles. Aston Martin Lagonda Global Holdings offers its services worldwide.

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Aston Martin (AML LN)

Aston Martin Lagonda Pre-IPO Under the New IPO Process - Lots to like Apart from R&D Capitalisation

Aston Martin Holdings UK Ltd (8444762Z LN) plans to list in the UK, in what is set to be the first listing under UK's new IPO disclosure rules. The...

Sumeet Singh

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