APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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.

Event-Driven

Shenzhen Senior Technology-A / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-senior-technology-a" target="_blank" data-smartkarma-citation="entities:29612:1" rel="noopener">Shenzhen Senior Technology-A (300568 CH)</a> is looking to raise around US$275m in its upcoming Switzerland GDR listing. The bookrunner on the deal is Huatai International.</li>
<li>As per media reports, the firm was earlier looking to raise between US$300-400m via a Swiss GDR issuance, having secured approval earlier to sell up to 128m A-shares.</li>
<li>However, given its lackluster share price performance over the past year, the eventual deal size would be capped at around US$275m.</li>
</ul>



Shenzhen Senior Technology-A (300568 CH) is looking to raise around US$275m in its upcoming Switzerland GDR listing. The bookrunner on the deal is Huatai International.
As per media reports, the firm was earlier looking to raise between US$300-400m via a Swiss GDR issuance, having secured approval earlier to sell up to 128m A-shares.
However, given its lackluster share price performance over the past year, the eventual deal size would be capped at around US$275m.


Shenzhen Senior Tech GDR Listing - Early Look - Correction Leaves Its Valuation Palatable

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 8th which has an aggregated holding worth USD681.7bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be outflows of USD563mln and highlight foreign changes in Umc.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 8th which has an aggregated holding worth USD681.7bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be outflows of USD563mln and highlight foreign changes in Umc.


TWSE Foreign Holding Weekly (Dec 8th): Umc

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 8th which has an aggregated short interest worth USD15.0bn.</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 Global Unichip, Gigabyte Tech, Novatek, Shihlin Electric, Quanta Computer, Acer, China Devt, Giant Manufactur, China Steel.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 8th which has an aggregated short interest worth USD15.0bn.
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 Global Unichip, Gigabyte Tech, Novatek, Shihlin Electric, Quanta Computer, Acer, China Devt, Giant Manufactur, China Steel.


TWSE Short Interest Weekly (Dec 8th): Global Unichip, Gigabyte Tech, Novatek, Shihlin Electric

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

<ul>
<li>On December 8th, GUC reached its daily limit at the closing price, but the company did not consistently demonstrate an agreeable attitude.</li>
<li>The "AI" is an explicit knowledge for today, while GUC is a company of project based. </li>
<li>GUC's monthly revenue decreased by 22.15% YoY in November 2023.</li>
</ul>


On December 8th, GUC reached its daily limit at the closing price, but the company did not consistently demonstrate an agreeable attitude.
The "AI" is an explicit knowledge for today, while GUC is a company of project based. 
GUC's monthly revenue decreased by 22.15% YoY in November 2023.


GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

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

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Is TSMC Leaving Samsung in the Dust with its New 3nm Process Technology?</li>
<li>Our Pick Himax a Top Loser... Apple Lens Supplier, Yageo Peer, and Taiwan AI Chip Designer Top Winners</li>
<li>Positive Sign for Apple Revenue -- Hon Hai November Revenue Higher Than Expected, Guides for Better December</li>
</ul>


Is TSMC Leaving Samsung in the Dust with its New 3nm Process Technology?
Our Pick Himax a Top Loser... Apple Lens Supplier, Yageo Peer, and Taiwan AI Chip Designer Top Winners
Positive Sign for Apple Revenue -- Hon Hai November Revenue Higher Than Expected, Guides for Better December


Taiwan Tech Weekly: TSMC Extending Lead Vs. Samsung with 3nm Tech; Hon Hai Result Positive for Apple

Taiwan

Alchip Technologies Ltd. provides silicon design and manufacturing services. The Company offers a range of system on chip (SoC) design solutions for low power, high performance, and cost considerations. Alchip produces SoC solutions for products including consumer electronics, optical networking, and medical imaging equipment. Alchip serves customers worldwide.

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Alchip Technologies (3661 TT)

Shenzhen Senior Tech GDR Listing - Early Look - Correction Leaves Its Valuation Palatable

Shenzhen Senior Tech just launched its US$66m GDR offering. In the base deal, 6.34m GDRs are on offer, at US$9.46–$10.44 each, representing a...

Clarence Chu

TWSE Foreign Holding Weekly (Dec 8th): Umc

We analyzed TWSE foreign holding data for the past week and we highlighted the foreign holding weekly and yearly changes in Umc.

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 8th): Global Unichip, Gigabyte Tech, Novatek, Shihlin Electric

We analyzed TWSE short interest report for the past week and highlight short interest changes in Global Unichip, Gigabyte Tech, Novatek, Shihlin...

Ke Yan, CFA, FRM

GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....

Patrick Liao

Taiwan Tech Weekly: TSMC Extending Lead Vs. Samsung with 3nm Tech; Hon Hai Result Positive for Apple

TSMC appears to be beating Samsung repeatedly when it comes to winning clients to produce leading-edge 3-nm chips. TSMC has repeatedly been chosen...

Vincent Fernando, CFA

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shenzhen Senior Tech GDR Listing - Early Look - Correction Leaves Its Valuation Palatable

Shenzhen Senior Tech just launched its US$66m GDR offering. In the base deal, 6.34m GDRs are on offer, at US$9.46–$10.44 each, representing a...

Clarence Chu

TWSE Foreign Holding Weekly (Dec 8th): Umc

We analyzed TWSE foreign holding data for the past week and we highlighted the foreign holding weekly and yearly changes in Umc.

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 8th): Global Unichip, Gigabyte Tech, Novatek, Shihlin Electric

We analyzed TWSE short interest report for the past week and highlight short interest changes in Global Unichip, Gigabyte Tech, Novatek, Shihlin...

Ke Yan, CFA, FRM

GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

​GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....

Patrick Liao

Taiwan Tech Weekly: TSMC Extending Lead Vs. Samsung with 3nm Tech; Hon Hai Result Positive for Apple

TSMC appears to be beating Samsung repeatedly when it comes to winning clients to produce leading-edge 3-nm chips. TSMC has repeatedly been chosen...

Vincent Fernando, CFA

GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....