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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 11th (reported today) which has an aggregated short interest worth USD23.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Northern Star Resources, Bluescope Steel, Westpac, CSL, Santos, Goodman, Coles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 11th (reported today) which has an aggregated short interest worth USD23.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Northern Star Resources, Bluescope Steel, Westpac, CSL, Santos, Goodman, Coles.


ASX Short Interest Weekly (Apr 11th): Northern Star Resources, Bluescope Steel, Westpac, CSL, Santos

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 28th (reported today) which has an  aggregated short interest worth USD 23.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT.</li>
<li>We highlight short interest changes in Commonwealth Bank Of Australia, James Hardie Industries, Westpac, Suncorp, ANZ, Macquarie.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 28th (reported today) which has an  aggregated short interest worth USD 23.9bn.
We tabulate league table for top short by value and short as multiple of ADT.
We highlight short interest changes in Commonwealth Bank Of Australia, James Hardie Industries, Westpac, Suncorp, ANZ, Macquarie.


ASX Short Interest Weekly (Mar 28th): Commonwealth Bank Of Australia, James Hardie Industries

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Market Reaction: The announcement of US reciprocal tariffs led to significant declines in S&amp;P 500 (-3.5%) and Nasdaq-100 (-4.4%) futures, with the VIX spiking from 20.00 to 23.45.</li>
<li>
Impact on Australia: Australia faces a 10% tariff, with the overall economic impact expected to be limited.</li>
<li>
<a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> Response: The S&amp;P/ASX 200 dropped 2.1% in early trading, with its VIX index rising from 13.20 to 15.43. These are historically high but not extreme levels.</li>
</ul>



Market Reaction: The announcement of US reciprocal tariffs led to significant declines in S&amp;P 500 (-3.5%) and Nasdaq-100 (-4.4%) futures, with the VIX spiking from 20.00 to 23.45.

Impact on Australia: Australia faces a 10% tariff, with the overall economic impact expected to be limited.

S&amp;P/ASX 200 (AS51 INDEX) Response: The S&amp;P/ASX 200 dropped 2.1% in early trading, with its VIX index rising from 13.20 to 15.43. These are historically high but not extreme levels.


S&P/ASX 200 Volatility Rises: Market Down Amid US Tariffs and S&P 500 Futures Plunge

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 21st (reported today) which has an aggregated short interest worth USD22.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Sigma Pharmaceuticals, Transurban, Woolworths, ANZ, Amcor, National Australia Bank, Westpac, Paladin Energy.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 21st (reported today) which has an aggregated short interest worth USD22.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Sigma Pharmaceuticals, Transurban, Woolworths, ANZ, Amcor, National Australia Bank, Westpac, Paladin Energy.


ASX Short Interest Weekly (Mar 21st): Sigma Pharmaceuticals, Transurban, Woolworths, ANZ, Amcor

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

Equity Capital Markets

<ul>
<li>Bain and GIC looking to raise US$130m by selling their remaining stake in <a href="https://www.smartkarma.com/entities/judo-capital" target="_blank" data-smartkarma-citation="entities:34571:1" rel="noopener">Judo Capital (JDO AU).</a>
</li>
<li>The deal will be a large one to digest at 30.8 days of the stock’s three month ADV, representing 9.2% of its shares outstanding.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


Bain and GIC looking to raise US$130m by selling their remaining stake in Judo Capital (JDO AU).

The deal will be a large one to digest at 30.8 days of the stock’s three month ADV, representing 9.2% of its shares outstanding.
In this note, we will talk about the placement and run the deal through our ECM framework.


Judo Capital Placement - Clean up but past Deal Didn’t Do Well

Australia

Westpac Banking Corporation offers general and savings banking services.  The Company provides investment portfolio management and advice, insurance services,  consumer finance, and money market services among other services.  Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

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Westpac Banking (WBC AU)

ASX Short Interest Weekly (Apr 11th): Northern Star Resources, Bluescope Steel, Westpac, CSL, Santos

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Bluescope Steel, Westpac,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Mar 28th): Commonwealth Bank Of Australia, James Hardie Industries

We analyzed ASX short interest report for the past week and highlight short interest changes in Commonwealth Bank Of Australia, James Hardie...

Ke Yan, CFA, FRM

S&P/ASX 200 Volatility Rises: Market Down Amid US Tariffs and S&P 500 Futures Plunge

S&P/ASX 200 drops 2.1% in early trading, while volatility increases from 13.2% to above 15.0%. Implied volatility is elevated, but not extreme by a...

Gaudenz Schneider

ASX Short Interest Weekly (Mar 21st): Sigma Pharmaceuticals, Transurban, Woolworths, ANZ, Amcor

We analyzed ASX short interest report for the past week and highlight short interest changes in Sigma Pharmaceuticals, Transurban, Woolworths, ANZ,...

Ke Yan, CFA, FRM

Judo Capital Placement - Clean up but past Deal Didn’t Do Well

Bain and GIC looking to raise US$130m by selling their remaining stake in Judo Capital. In this note, we will talk about the placement and run the...

Nicholas Tan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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