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 foreign holdings of TWSE Stocks as of Jul 4th. The aggregated holding was USD1,128.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,856mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Mediatek, Ase Industrial, Quanta Computer, Delta Electronics, Fubon Financial, Compal Electronics, Yang Ming Marine, Novatek Microelectronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 4th. The aggregated holding was USD1,128.9bn.
We estimate that foreign flows to be inflows of USD2,856mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Mediatek, Ase Industrial, Quanta Computer, Delta Electronics, Fubon Financial, Compal Electronics, Yang Ming Marine, Novatek Microelectronics.


TWSE Foreign Holding Weekly (Jul 4th): TSMC, Mediatek, Ase Industrial, Quanta Computer

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 27th. The aggregated holding was USD1,126.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD16,805mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Jinan Acetate Chemical, TSMC, Elite Material, Evergreen Marine, UMC, China Development Financial, Cathay Financial, Asustek Computer, Quanta Computer, Uni-President Enterprises.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 27th. The aggregated holding was USD1,126.4bn.
We estimate that foreign flows to be inflows of USD16,805mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Jinan Acetate Chemical, TSMC, Elite Material, Evergreen Marine, UMC, China Development Financial, Cathay Financial, Asustek Computer, Quanta Computer, Uni-President Enterprises.


TWSE Foreign Holding Weekly (Jun 27th): Jinan Acetate Chemical, TSMC, Elite Material

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +23.4% Premium; Consider Shorting ADR Spread at Current Level; Record Short Interest in Local</li>
<li>UMC: +1.1% Premium; Wait for More Extreme Premium to Short</li>
<li>ASE: +2.9% Premium; Near Level to Go Long the ADR Spread</li>
</ul>


TSMC: +23.4% Premium; Consider Shorting ADR Spread at Current Level; Record Short Interest in Local
UMC: +1.1% Premium; Wait for More Extreme Premium to Short
ASE: +2.9% Premium; Near Level to Go Long the ADR Spread


Taiwan Dual-Listings Monitor: TSMC High Premium Persisting, Record Short Interest in Local

<ul>
<li>TSMC: +22.1% Premium; Consider Shorting ADR Spread at Current Level</li>
<li>UMC: +3.5% Premium; Extreme vs. History, Consider Shorting ADR Spread</li>
<li>ASE: +2.4% Premium; Approaching Level to Long the ADR Spread</li>
</ul>


TSMC: +22.1% Premium; Consider Shorting ADR Spread at Current Level
UMC: +3.5% Premium; Extreme vs. History, Consider Shorting ADR Spread
ASE: +2.4% Premium; Approaching Level to Long the ADR Spread


Taiwan Dual-Listings Monitor: TSMC Historically High Spread Persisting; UMC High Premium

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 20th. The aggregated holding was USD1,066.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,797mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Wistron, Asia Vital Components, Delta Electronics, Elite Material, Evergreen Marine, Cathay Financial, Fubon Financial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 20th. The aggregated holding was USD1,066.9bn.
We estimate that foreign flows to be inflows of USD1,797mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Wistron, Asia Vital Components, Delta Electronics, Elite Material, Evergreen Marine, Cathay Financial, Fubon Financial.


TWSE Foreign Holding Weekly (Jun 20th): TSMC, Wistron, Asia Vital Components, Delta Electronics

Taiwan

Chunghwa Telecom Co., Ltd. provides local, domestic, and international long distance services. The Company also offers wireless telecommunication, paging, and Internet services.

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Chunghwa Telecom (2412 TT)

TWSE Foreign Holding Weekly (Jul 4th): TSMC, Mediatek, Ase Industrial, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Mediatek (2454 TT), Ase...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 27th): Jinan Acetate Chemical, TSMC, Elite Material

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Jinan Acetate Chemical (4763 TT), TSMC (2330...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC High Premium Persisting, Record Short Interest in Local

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Historically High Spread Persisting; UMC High Premium

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Jun 20th): TSMC, Wistron, Asia Vital Components, Delta Electronics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Wistron (3231 TT), Asia Vital...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)