Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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.

Equity Capital Markets

Fortior Technology (Shenzhen) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fortior-technology-shenzhen-co-ltd" target="_blank" data-smartkarma-citation="entities:44259:1" rel="noopener">Fortior Technology (Shenzhen) (688279 CH)</a>, a BLDC motor IC design company, aims to raise around US$250m in its H-share listing.</li>
<li>Fortior Tech is an IC design company dedicated to the design and R&amp;D of BLDC motor control ICs.</li>
<li>In this note, we look at the past performance and likely A/H premium.</li>
</ul>



Fortior Technology (Shenzhen) (688279 CH), a BLDC motor IC design company, aims to raise around US$250m in its H-share listing.
Fortior Tech is an IC design company dedicated to the design and R&amp;D of BLDC motor control ICs.
In this note, we look at the past performance and likely A/H premium.


Fortior Tech A/H Listing - Fast but Volatile Growth and Margins

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/holcim-ltd-7f60ceaa-51af-4f85-ac5f-114595eb04f3" target="_blank" data-smartkarma-citation="entities:27916" rel="noopener">Holcim (HOLN SW)</a> spun off its construction materials and solutions business into a standalone company on Friday, June 20th.</li>
<li>The new company is called <a href="https://www.smartkarma.com/entities/amrize-ltd" target="_blank" data-smartkarma-citation="entities:45209" rel="noopener">Amrize (AMRZ US)</a>. </li>
<li>The first day of trading will be Monday, June 23, 2025.</li>
</ul>



Holcim (HOLN SW) spun off its construction materials and solutions business into a standalone company on Friday, June 20th.
The new company is called Amrize (AMRZ US). 
The first day of trading will be Monday, June 23, 2025.


Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>AMETEK Inc., a leading global manufacturer of electronic instruments and electromechanical devices, presented its third quarter 2024 financial results, showing a broad array of both strong performances across various sectors and challenges due to macroeconomic conditions.</li><li>Revenue reached $1.71 billion, a 5% increase from the same period in the previous year, although organic sales decreased by 2%.</li><li>The acquisitions contributed significantly to the growth, adding 7.5 percentage points, whereas foreign exchange impacts were neutral.</li></ul>

AMETEK Inc., a leading global manufacturer of electronic instruments and electromechanical devices, presented its third quarter 2024 financial results, showing a broad array of both strong performances across various sectors and challenges due to macroeconomic conditions.Revenue reached $1.71 billion, a 5% increase from the same period in the previous year, although organic sales decreased by 2%.The acquisitions contributed significantly to the growth, adding 7.5 percentage points, whereas foreign exchange impacts were neutral.

AMETEK Inc.: How Is Its Strategic Market Positioning & Technology Development In Aerospace & Defense! - Major Drivers

<ul><li>AMETEK, Inc. faced a complex quarter following its latest earnings release on the backdrop of a challenging global growth environment.</li><li>The quarter saw continued OEM inventory destocking, which led to lower-than anticipated sales volumes and cautious customer behavior resulting in project delays.</li><li>These challenges have compelled AMETEK to adjust its full-year guidance, reflecting subdued sales expectations in key segments.</li></ul>

AMETEK, Inc. faced a complex quarter following its latest earnings release on the backdrop of a challenging global growth environment.The quarter saw continued OEM inventory destocking, which led to lower-than anticipated sales volumes and cautious customer behavior resulting in project delays.These challenges have compelled AMETEK to adjust its full-year guidance, reflecting subdued sales expectations in key segments.

Ametek Inc.: How Are They Catering To Diverse End Markets! - Major Drivers

<ul><li>AMETEK kicked off the year 2024 on a strong note, recording stellar performances that birthed double-digit growth in earnings per share.</li><li>In the first quarter of 2024, the company set new records for operating income, sales, and EBITDA. This, coupled with strong performances in its core margin expansion and cash flows, prompted an increase in the company's earnings guidance for the full year.</li><li>The records set in the quarter underscore AMETEK's robust growth model, the superior quality of its businesses, and the significant contributions of its entire workforce.</li></ul>

AMETEK kicked off the year 2024 on a strong note, recording stellar performances that birthed double-digit growth in earnings per share.In the first quarter of 2024, the company set new records for operating income, sales, and EBITDA. This, coupled with strong performances in its core margin expansion and cash flows, prompted an increase in the company's earnings guidance for the full year.The records set in the quarter underscore AMETEK's robust growth model, the superior quality of its businesses, and the significant contributions of its entire workforce.

Ametek Inc.: How Long Will The Strong Organic Earnings Growth Last? - Major Drivers

United States

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical devices. The Company manufactures advanced instruments for process, aerospace, power and industrial markets and is a supplier of electrical interconnects, specialty metals, technical motors and systems, and floor care and specialty motors.

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Ametek Inc (AME US)

Fortior Tech A/H Listing - Fast but Volatile Growth and Margins

Fortior Technology (Shenzhen) (688279 CH), a BLDC motor IC design company, aims to raise around US$250m in its H-share listing. In this note, we...

Sumeet Singh

Weekly Update (AMRZ, LION, FTV)

The AMRZ spin-off aims to capitalize on the higher valuation multiples of US building supply companies compared to their European counterparts.

Richard Howe

AMETEK Inc.: How Is Its Strategic Market Positioning & Technology Development In Aerospace & Defense! - Major Drivers

AMETEK Inc., a leading global manufacturer of electronic instruments and electromechanical devices, presented its third quarter 2024 financial...

Baptista Research

Ametek Inc.: How Are They Catering To Diverse End Markets! - Major Drivers

AMETEK, Inc. faced a complex quarter following its latest earnings release on the backdrop of a challenging global growth environment. The quarter...

Baptista Research

Ametek Inc.: How Long Will The Strong Organic Earnings Growth Last? - Major Drivers

AMETEK kicked off the year 2024 on a strong note, recording stellar performances that birthed double-digit growth in earnings per share. In the...

Baptista Research

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