Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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

360 Finance, Inc. / Equity Capital Markets

360 Finance, a spin-off from 360 Security Technology (601360 CH), has filed for an IPO in the US to raise up to USD 200m. In this insight, we will discuss the following topics:
<ul>
<li>The revenue model of the company</li>
<li>Analysis of key metrics and risk going forward</li>
<li>Synergies and relationship with 360</li>
<li>Company history and shareholders</li>
<li>Initial thoughts on valuation</li>
</ul>

360 Finance, a spin-off from 360 Security Technology (601360 CH), has filed for an IPO in the US to raise up to USD 200m. In this insight, we will discuss the following topics:

The revenue model of the company
Analysis of key metrics and risk going forward
Synergies and relationship with 360
Company history and shareholders
Initial thoughts on valuation


360 Finance (360金融) IPO First-Take: Too Late into Cash Loan Game

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Event-Driven

IKang Healthcare Group (ADR) / Event-Driven

<a href="https://www.smartkarma.com/entities/741" target="_blank" data-smartkarma-citation="entities:741:1">iKang Healthcare Group (ADR) (KANG US)</a> 's December quarter results provide updated benchmarks for evaluating Yunfeng and Alibaba's US$20/ADS offer for the company. Management did not speak to the offer on their conference call and brushed away several related questions from investors. We think that a fair offer is at least US$24/ADS given the earnings recovery and the potential for "exchange arbitrage" in some form. Unfortunately, management is the biggest obstacle to obtaining a higher offer. We have tagged this Insight as positive because we think a deal is likely to go through.

iKang Healthcare Group (ADR) (KANG US) 's December quarter results provide updated benchmarks for evaluating Yunfeng and Alibaba's US$20/ADS offer for the company. Management did not speak to the offer on their conference call and brushed away several related questions from investors. We think that a fair offer is at least US$24/ADS given the earnings recovery and the potential for "exchange arbitrage" in some form. Unfortunately, management is the biggest obstacle to obtaining a higher offer. We have tagged this Insight as positive because we think a deal is likely to go through.

IKang: Endgame Approaching, But Fair Price Is Distant

China

360 Security Technology Inc. offers technology services. The Company mainly researches and develops internet security technology and products. 360 Security Technology provides services in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

360 Security Technology Inc. (601360 CH)

360 Finance (360金融) IPO First-Take: Too Late into Cash Loan Game

360 Finance, a spin-off from 360 Security Technology (601360 CH), has filed for an IPO in the US to raise up to USD 200m. In this insight, we will...

Ke Yan, CFA, FRM

IKang: Endgame Approaching, But Fair Price Is Distant

iKang Healthcare Group (ADR) (KANG US) 's December quarter results provide updated benchmarks for evaluating Yunfeng and Alibaba's US$20/ADS offer...

Kemp Dolliver, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)