APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><em>The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.</em></p><div class="content-highlight"><p>Placement momentum continues this week as HSI and HSCEI have been able to sustain their momentum and companies are looking to sell some equity and lock in cash at these valuations. </p><p>On the other hand, IPOs momentum is starting to pick up as we see more companies considering to come onto market with AEP considering their REIT listing, <a href="https://www.smartkarma.com/entities/26728" target="_blank" data-smartkarma-citation="entities:26728:1">A-Living Services Co Ltd (3319 HK)</a> is also currently running its bookbuild (which <a href="https://www.smartkarma.com/profiles/9" target="_blank" data-smartkarma-citation="accounts:9">Ke Yan, CFA, FRM</a> will be publishing next week).</p><p>Another IPO to keep a look out for in the next few weeks will be <a href="https://www.smartkarma.com/entities/25912" target="_blank" data-smartkarma-citation="entities:25912:1">Cafe24 Corp (042000 KF)</a> which <a href="https://www.smartkarma.com/profiles/342" target="_blank" data-smartkarma-citation="accounts:342">Douglas Kim</a> and <a href="https://www.smartkarma.com/profiles/354" target="_blank" data-smartkarma-citation="accounts:354">Sanghyun Park</a> have been very bullish on and likened the business to that of Shopify. Currently, its OTC price is already trading at KRW80,000 while its IPO will likely be priced at the high end, about KRW57,000. Another notable aspect to this IPO is that this is the first company that will be listed under the "Tesla Policy" and retail investors will have their downside protected through a putback option clause.</p><p><strong><em>Tentative pipeline IPOs for next week: A-Living Services (<a href="https://www.smartkarma.com/profiles/9" target="_blank" data-smartkarma-citation="accounts:9">Ke Yan, CFA, FRM</a> ), ICICI Securities (<a href="https://www.smartkarma.com/profiles/4" target="_blank" data-smartkarma-citation="accounts:4">Sumeet Singh</a> ), Galaxy Surfactants (<a href="https://www.smartkarma.com/profiles/673" target="_blank" data-smartkarma-citation="accounts:673">Toh Zhen Zhou</a> )</em></strong></p></div><div><h2>Accuracy Rate:</h2></div><p>Our overall accuracy rate is<strong> 72.5% for IPOs </strong>and <strong>62.7% for Placements.</strong></p><p><em>(Performance measurement criteria is explained at the end of the note)</em></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/043/111/original/Total-Deals-Since-Inception-Accuracy-Rate-Since-Inception-_chartbuilder%20%281%29.png?1517036960" class="editor-image img-responsive" data-smartkarma-image-id="43111"></figure><h2><strong>New IPO filings this week<br><br></strong></h2><ul><li><strong>Shandong Gold Mining (Hong Kong, ~US$200m)</strong></li><li><strong>Bharat Dynamics (India, ~US$157)</strong></li><li><strong>Route Mobile (India, ~US$100m)</strong></li></ul><p>Below is a snippet of our IPO tool on upcoming events for the next week. Our IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool <a href="https://www.smartkarma.com/tools/ipos" target="_blank">here </a>or through the tools menu.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/043/112/original/upcoming.PNG?1517036982" class="editor-image img-responsive" data-smartkarma-image-id="43112"></figure><div class="content-caption">Source: Smartkarma</div><h2><strong>News on Upcoming IPOs</strong></h2><ul><li><a href="https://www.bloomberg.com/news/articles/2018-01-26/hna-s-former-singapore-partner-is-said-to-revive-reit-ipo-work" target="_blank">HNA's Former Singapore Partner Is Said to Revive IPO Work</a></li><li><a href="https://www.bloomberg.com/news/articles/2018-01-26/dell-technologies-is-said-to-be-considering-ipo-other-options" target="_blank">Dell Mulls Return to Market Four Years After Going Private</a></li><li><a href="https://www.dealstreetasia.com/stories/chinas-wanda-group-approaches-citigroup-clsa-ubs-for-1b-sports-unit-ipo-90832/?utm_source=DealStreetAsia%3A+The+Daily+Brief&amp;utm_campaign=edb773636c-RSS_EMAIL_CAMPAIGN+%2A%7CRSSFEED%3ADATE%3A+F+j%2C+Y%7C%2A&amp;utm_medium=email&amp;utm_term=0_0fa50e40c1-edb773636c-239139321&amp;mc_cid=edb773636c&amp;mc_eid=28c8c22a08" target="_blank">China’s Wanda Group approaches Citigroup, CLSA, UBS for $1b sports unit IPO</a></li><li><a href="https://asia.nikkei.com/Markets/Capital-Markets/Foxconn-weighs-adding-core-iPhone-unit-to-Shanghai-spin-off" target="_blank">Foxconn weighs adding core iPhone unit to Shanghai spin-off</a></li><li><a href="https://www.bloomberg.com/news/articles/2018-01-23/new-oriental-backed-online-learning-firm-said-to-plan-u-s-ipo" target="_blank">New Oriental-Backed Online Learning Firm Plans U.S. IPO</a></li></ul><h2><strong>Smartkarma Community's Analyses on Upcoming IPOs</strong></h2><ul><li><a href="https://www.smartkarma.com/insights/galaxy-surfactants-ipo-preview-selling-shareholders-cleaning-up" target="_blank" data-smartkarma-citation="insights:17047">Galaxy Surfactants IPO Preview: Selling Shareholders Cleaning Up</a></li><li><a href="https://www.smartkarma.com/insights/huali-university-group-ipo-preview-falling-enrolment-and-weaker-margins-mean-premium-unlikely" target="_blank" data-smartkarma-citation="insights:16930">Huali University Group IPO Preview: Falling Enrolment and Weaker Margins Mean Premium Unlikely</a></li><li><a href="https://www.smartkarma.com/insights/enzychem-lifesciences-ipo-rescheduling-summary" target="_blank" data-smartkarma-citation="insights:16951">Enzychem Lifesciences IPO Rescheduling Summary</a></li><li><a href="https://www.smartkarma.com/insights/aekyung-co-ipo-preview-part-1-a-leading-household-products-company-in-korea" target="_blank" data-smartkarma-citation="insights:17029">Aekyung Co. IPO Preview (Part 1): A Leading Household Products Company in Korea</a></li><li><a href="https://www.smartkarma.com/insights/cafe24-ipo-bookbuilding-results" target="_blank" data-smartkarma-citation="insights:17136">Cafe24 IPO Bookbuilding Results</a></li></ul><h2>List of pre-IPO Coverage on Smartkarma</h2><div><table class="table table-striped"><tbody><tr><td>Name</td><td>Insight</td></tr><tr><td colspan="2"><strong>Hong Kong</strong></td></tr><tr><td>Cenmintang</td><td><a href="https://www.smartkarma.com/insights/cenmintang-ipo-preview-a-beverage-and-snack-play-whose-growth-is-hard-to-grasp" target="_blank" data-smartkarma-citation="insights:9282">Cenmintang IPO Preview: A Beverage and Snack Play Whose Growth Is Hard to Grasp</a></td></tr><tr><td>China Feihe</td><td><a href="https://www.smartkarma.com/insights/china-feihe-ipo-preview-goat-bless-infant-formula-milk" target="_blank" data-smartkarma-citation="insights:12751">China Feihe IPO Preview: Goat Bless Infant Formula Milk?</a></td></tr><tr><td>Bank of Jiujiang</td><td><a href="https://www.smartkarma.com/insights/scraping-the-bottom-of-the-barrel-bank-of-jiujiang" target="_blank">Scraping the Bottom of the Barrel: Bank of JiuJiang</a></td></tr><tr><td colspan="2"><strong>South Korea</strong></td></tr><tr><td>Bodyfriend</td><td><a href="https://www.smartkarma.com/insights/bodyfriend-ipo-preview-part-i-goodbye-osim-hello-bodyfriend" target="_blank">Bodyfriend IPO Preview: Part I (Goodbye Osim, Hello Bodyfriend) Bodyfriend) </a></td></tr><tr><td>CJ OliveNetworks</td><td><a href="https://www.smartkarma.com/insights/cj-olivenetworks-on-a-fast-track-to-an-ipo-in-2017" target="_blank">CJ OliveNetworks - On A Fast Track to an IPO in 2017? </a></td></tr><tr><td>Cafe24</td><td><a href="https://www.smartkarma.com/insights/cafe-24-ipo-preview-part-1-korea-s-shopify-leading-contender-for-tesla-requirements-based-ipo" target="_blank" data-smartkarma-citation="insights:13665">Cafe 24 IPO Preview (Part 1): Korea’s Shopify - Leading Contender For “Tesla” Requirements Based IPO</a></td></tr><tr><td>Data Solution</td><td><a href="https://www.smartkarma.com/insights/datasolution-ipo-summary-questions-remain-on-growth-but-market-seems-excited" target="_blank" data-smartkarma-citation="insights:12519">Datasolution IPO Summary - Questions Remain on Growth, but Market Seems Excited</a></td></tr><tr><td>Gentle Monster</td><td><a href="https://www.smartkarma.com/insights/gentle-monster-ipo-a-monster-growth" target="_blank" data-smartkarma-citation="insights:8630">Gentle Monster IPO - A Monster Growth</a></td></tr><tr><td>Korea Exchange</td><td><a href="https://www.smartkarma.com/insights/korea-exchange-ipo-question-is-when-not-if" target="_blank">Korea Exchange IPO - Question Is When, Not If</a></td></tr><tr><td>Outin Futures</td><td><a href="https://www.smartkarma.com/insights/outin-futures-corp-ipo-preview-part-1" target="_blank" data-smartkarma-citation="insights:11212">Outin Futures Corp IPO Preview (Part 1)</a>,  <a href="https://www.smartkarma.com/insights/outin-futures-corp-ipo-valuations-part-2" target="_blank" data-smartkarma-citation="insights:11736">Valuations (Part 2)</a></td></tr><tr><td>Woowa Bro</td><td><a href="https://www.smartkarma.com/insights/woowa-brothers-corp-ipo-preview-part-1-the-most-popular-food-delivery-service-in-korea" target="_blank" data-smartkarma-citation="insights:11104">Woowa Brothers Corp IPO Preview (Part 1) - The Most Popular Food Delivery Service in Korea</a></td></tr><tr><td>V-One Tech</td><td><a href="https://www.smartkarma.com/insights/v-one-tech-ipo-summary-another-oled-stock-ipo" target="_blank" data-smartkarma-citation="insights:11689">V-One Tech IPO Summary - Another OLED Stock IPO</a>,  <a href="https://www.smartkarma.com/insights/v-one-tech-ipo-part-2-ipo-bookbuilding-results" target="_blank" data-smartkarma-citation="insights:11806">IPO Bookbuilding Results</a></td></tr><tr><td>Zinus</td><td><a href="https://www.smartkarma.com/insights/zinus-ipo-preview-part-1-an-amazing-comeback-story-1-mattress-brand-on-amazon" target="_blank" data-smartkarma-citation="insights:13698">Zinus IPO Preview (Part 1) - An Amazing Comeback Story (#1 Mattress Brand on Amazon)</a></td></tr><tr><td colspan="2"><strong>India</strong></td></tr><tr><td>NSE</td><td><a href="https://www.smartkarma.com/insights/national-stock-exchange-pre-ipo-review-bigger-better-stronger-but-a-little-too-fast-for-some" target="_blank">National Stock Exchange Pre-IPO Review - Bigger, Better, Stronger but a Little Too Fast for Some</a></td></tr><tr><td>NSE</td><td><a href="https://www.smartkarma.com/insights/nse-ipo-preview-not-only-fast-its-risky-and-expensive" target="_blank">NSE IPO Preview- Not Only Fast..its Risky and Expensive</a></td></tr></tbody></table></div>

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Placement momentum continues this week as HSI and HSCEI have been able to sustain their momentum and companies are looking to sell some equity and lock in cash at these valuations. On the other hand, IPOs momentum is starting to pick up as we see more companies considering to come onto market with AEP considering their REIT listing, A-Living Services Co Ltd (3319 HK) is also currently running its bookbuild (which Ke Yan, CFA, FRM will be publishing next week).Another IPO to keep a look out for in the next few weeks will be Cafe24 Corp (042000 KF) which Douglas Kim and Sanghyun Park have been very bullish on and likened the business to that of Shopify. Currently, its OTC price is already trading at KRW80,000 while its IPO will likely be priced at the high end, about KRW57,000. Another notable aspect to this IPO is that this is the first company that will be listed under the "Tesla Policy" and retail investors will have their downside protected through a putback option clause.Tentative pipeline IPOs for next week: A-Living Services (Ke Yan, CFA, FRM ), ICICI Securities (Sumeet Singh ), Galaxy Surfactants (Toh Zhen Zhou )Accuracy Rate:Our overall accuracy rate is 72.5% for IPOs and 62.7% for Placements.(Performance measurement criteria is explained at the end of the note)New IPO filings this week  Shandong Gold Mining (Hong Kong, ~US$200m)Bharat Dynamics (India, ~US$157)Route Mobile (India, ~US$100m)Below is a snippet of our IPO tool on upcoming events for the next week. Our IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.Source: SmartkarmaNews on Upcoming IPOsHNA's Former Singapore Partner Is Said to Revive IPO WorkDell Mulls Return to Market Four Years After Going PrivateChina’s Wanda Group approaches Citigroup, CLSA, UBS for $1b sports unit IPOFoxconn weighs adding core iPhone unit to Shanghai spin-offNew Oriental-Backed Online Learning Firm Plans U.S. IPOSmartkarma Community's Analyses on Upcoming IPOsGalaxy Surfactants IPO Preview: Selling Shareholders Cleaning UpHuali University Group IPO Preview: Falling Enrolment and Weaker Margins Mean Premium UnlikelyEnzychem Lifesciences IPO Rescheduling SummaryAekyung Co. IPO Preview (Part 1): A Leading Household Products Company in KoreaCafe24 IPO Bookbuilding ResultsList of pre-IPO Coverage on SmartkarmaNameInsightHong KongCenmintangCenmintang IPO Preview: A Beverage and Snack Play Whose Growth Is Hard to GraspChina FeiheChina Feihe IPO Preview: Goat Bless Infant Formula Milk?Bank of JiujiangScraping the Bottom of the Barrel: Bank of JiuJiangSouth KoreaBodyfriendBodyfriend IPO Preview: Part I (Goodbye Osim, Hello Bodyfriend) Bodyfriend) CJ OliveNetworksCJ OliveNetworks - On A Fast Track to an IPO in 2017? Cafe24Cafe 24 IPO Preview (Part 1): Korea’s Shopify - Leading Contender For “Tesla” Requirements Based IPOData SolutionDatasolution IPO Summary - Questions Remain on Growth, but Market Seems ExcitedGentle MonsterGentle Monster IPO - A Monster GrowthKorea ExchangeKorea Exchange IPO - Question Is When, Not IfOutin FuturesOutin Futures Corp IPO Preview (Part 1),  Valuations (Part 2)Woowa BroWoowa Brothers Corp IPO Preview (Part 1) - The Most Popular Food Delivery Service in KoreaV-One TechV-One Tech IPO Summary - Another OLED Stock IPO,  IPO Bookbuilding ResultsZinusZinus IPO Preview (Part 1) - An Amazing Comeback Story (#1 Mattress Brand on Amazon)IndiaNSENational Stock Exchange Pre-IPO Review - Bigger, Better, Stronger but a Little Too Fast for SomeNSENSE IPO Preview- Not Only Fast..its Risky and Expensive

Smartkarma: ECM Coverage Weekly Update (27 January 2018)

China

A-Living Smart City Services Co., Ltd. offers property management services. The Company provides hydropower maintenance, parking management, home cleaning, and other services. A-Living Smart City Services also engages in interior decoration works, landscaping works, and others.

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A-Living Smart City Services C (3319 HK)

Smartkarma: ECM Coverage Weekly Update (27 January 2018)

The Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs. Placement momentum...

Zhen Zhou, Toh

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