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

Capitaland Integrated Commercial Trust / Equity Capital Markets

<ul>
<li>CapitaLand Integrated Commercial Trust (CICT) aims to raise around US$150m to partly fund the recently announced acquisition of two Australian assets.</li>
<li>Although, at the time of the acquisition the company had stated that it aims to finance the acquisition using debt and divestment proceeds.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


CapitaLand Integrated Commercial Trust (CICT) aims to raise around US$150m to partly fund the recently announced acquisition of two Australian assets.
Although, at the time of the acquisition the company had stated that it aims to finance the acquisition using debt and divestment proceeds.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


CICT Placement - Surprise About Turn on Acquisition Funding

Digital Core REIT / Equity Capital Markets

<ul>
<li>Digital Core REIT (DCREIT), a data center REIT, raised around US$600m in its Singapore IPO.</li>
<li>The company is sponsored by Digital Realty, one of the largest REITs in the US, and over 60% of the deal is already spoken for by cornerstone investors.</li>
<li>In this note, we will talk about trading dynamics and valuations.</li>
</ul>


Digital Core REIT (DCREIT), a data center REIT, raised around US$600m in its Singapore IPO.
The company is sponsored by Digital Realty, one of the largest REITs in the US, and over 60% of the deal is already spoken for by cornerstone investors.
In this note, we will talk about trading dynamics and valuations.


Digital Core REIT IPO Trading - Strong Demand

<ul>
<li>Digital Core REIT (DCREIT), a data center REIT, aims to raise up to US$600m in its Singapore IPO.</li>
<li>The company is sponsored by Digital Realty, one of the largest REITs in the US, and over 60% of the deal is already spoken for by cornerstone investors.</li>
<li>In this note, we will talk about the deal background</li>
</ul>


Digital Core REIT (DCREIT), a data center REIT, aims to raise up to US$600m in its Singapore IPO.
The company is sponsored by Digital Realty, one of the largest REITs in the US, and over 60% of the deal is already spoken for by cornerstone investors.
In this note, we will talk about the deal background


Digital Core REIT IPO - Hot Sector, Strong Backing but Has More than a Few Peculiar Points

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/suntec-reit" target="_blank" data-smartkarma-citation="entities:151:1" rel="noopener">Suntec REIT (SUN SP)</a> reported its 3Q21 business updates pre-market on 22 Oct 21. In this note, we will analyze its performance for the period, current capital management, and share our thoughts on its outlook.</p>

Suntec REIT (SUN SP) reported its 3Q21 business updates pre-market on 22 Oct 21. In this note, we will analyze its performance for the period, current capital management, and share our thoughts on its outlook.

Suntec REIT 3Q21 - Higher Topline and Gearing, Only Difference Is the Former Was One-Off

RL Commercial REIT / Equity Capital Markets

<div>
<p>RL Commercial REIT (RREIT), sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. </p>
</div>
<div>
<p>RREIT is a commercial REIT and its initial portfolio will consist of 14 PEZA-accredited commercial real estate properties located in CBDs across Metro Manila and key cities outside Metro Manila, namely, Naga, Tarlac, Cebu and Davao. </p>
</div>
<div>
<p>We have looked at various aspects of the REIT in our previous notes:</p>
</div>
<div>
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
<p><a href="https://www.smartkarma.com/insights/rl-commercial-reit-pre-ipo-motley-crew-of-assets-has-weathered-covid-well" target="_blank" rel="noopener">RL Commercial REIT Pre-IPO - Motley crew of assets has weathered COVID well</a></p>
</li>
<li dir="ltr" aria-level="1">
<p><a href="https://www.smartkarma.com/insights/rl-commercial-reit-and-mreit-peer-comparison-one-is-much-better-shape" target="_blank" rel="noopener">RL Commercial REIT and MREIT peer comparison - One is in a much better shape</a></p>
</li>
<li dir="ltr" aria-level="1"><a href="https://www.smartkarma.com/insights/rl-commercial-reit-ipo-needs-to-come-at-a-discount" target="_blank" rel="noopener">RL Commercial REIT IPO - Needs to Come at a Discount</a></li>
</ul>
<p>In this note, we will talk about the trading dynamics.</p>
</div>


RL Commercial REIT (RREIT), sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. 


RREIT is a commercial REIT and its initial portfolio will consist of 14 PEZA-accredited commercial real estate properties located in CBDs across Metro Manila and key cities outside Metro Manila, namely, Naga, Tarlac, Cebu and Davao. 


We have looked at various aspects of the REIT in our previous notes:




RL Commercial REIT Pre-IPO - Motley crew of assets has weathered COVID well


RL Commercial REIT and MREIT peer comparison - One is in a much better shape

RL Commercial REIT IPO - Needs to Come at a Discount

In this note, we will talk about the trading dynamics.


RL Commercial REIT IPO Trading - Adequately Priced

Singapore

Capitaland Integrated Commercial Trust operates as a retail estate investment trust. The Compnay invests in retail and office properties and integrated developments. Capitaland Integrated Commercial Trust serves clients in Asia Pacific.

Capitaland Integrated Commercial Trust (CICT SP)

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Capitaland Integrated Commercial Trust (CICT SP)

CICT Placement - Surprise About Turn on Acquisition Funding

CapitaLand Integrated Commercial Trust (CICT) aims to raise around US$150m to partly fund the recently announced acquisition of two Australian assets.

Sumeet Singh

Digital Core REIT IPO Trading - Strong Demand

Digital Core REIT (DCREIT), a data center REIT, raised US$600m in its Singapore IPO. In this note we will talk about the trading dynamics.

Sumeet Singh

Digital Core REIT IPO - Hot Sector, Strong Backing but Has More than a Few Peculiar Points

Digital Core REIT (DCREIT), a data center REIT, aims to raise up to US$600m in its Singapore IPO. In this note, we will talk about the positive and...

Sumeet Singh

Suntec REIT 3Q21 - Higher Topline and Gearing, Only Difference Is the Former Was One-Off

Suntec REIT (SUN SP) reported its 3Q21 business updates pre-market on 22 Oct 21. In this note, we will analyze its performance, current capital...

Clarence Chu

RL Commercial REIT IPO Trading - Adequately Priced

RL Commercial REIT, sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. RREIT is a commercial REIT...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)