APAC IPOs & Placements, Aequitas Research

Ethan Aw

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.

Equity Capital Markets

<ul>
<li>In this note, we will take a look at the performance of bookrunners for HK placements from 2019-2022. </li>
<li>The following dataset includes all HK placements above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of <strong>148 deals. </strong>
</li>
<li>The deals you see in this note are based on our historical placements tracker. Feel free to drop us a message for additional information on any of these placements.</li>
</ul>


In this note, we will take a look at the performance of bookrunners for HK placements from 2019-2022. 
The following dataset includes all HK placements above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 148 deals. 

The deals you see in this note are based on our historical placements tracker. Feel free to drop us a message for additional information on any of these placements.


Aequitas HK Placements Bookrunner Performance (2019-2022)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Country Garden Holdings / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>There were no major IPO launches during the week. Soosan will list early next week.</li>
<li>There were a number of placements/blocks across the region, including GDR launches for Swiss listing.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
There were no major IPO launches during the week. Soosan will list early next week.
There were a number of placements/blocks across the region, including GDR launches for Swiss listing.


ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

Global Automotive Stocks/EV Focus/Event Driven, SC Capital

SC Capital

Global Automotive Stocks/EV Focus/Event Driven

Over 22 years covering Japanese equities on both the sell side and the buy side. 

Bottom-up Japan Equities Research

Equity Bottom-Up

Faraday Future Intelligent Ele / Equity Bottom-Up

<ul>
<li>Faraday Future (FF) announced that it has delayed the Q3 2022 launch of its first EV and is "continuing to engage" in fundraising talks. </li>
<li>FF says it needs $325m to last through the year or 47% of its market cap. A PIPE deal could be underway, albeit the 8-K filing was cautiously worded. </li>
<li>Depending on the agreement, it may pave the way for the recently deposed founder to place a crony on the Board, which could be negative for future funding. </li>
</ul>


Faraday Future (FF) announced that it has delayed the Q3 2022 launch of its first EV and is "continuing to engage" in fundraising talks. 
FF says it needs $325m to last through the year or 47% of its market cap. A PIPE deal could be underway, albeit the 8-K filing was cautiously worded. 
Depending on the agreement, it may pave the way for the recently deposed founder to place a crony on the Board, which could be negative for future funding. 


Faraday Future (FFIE) Delays New EV Launch; Says It Needs More Cash

<ul>
<li>EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report &amp; Q1 2022 results by May 16th.   </li>
<li>FF has no revenues yet, but plans to start production in Q3. Cash as of March-end was only $273m vs cash burn of $181m &amp; payment obligations of $193m.</li>
<li>FF's growth strategy is risky &amp; relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.    </li>
</ul>


EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report &amp; Q1 2022 results by May 16th.   
FF has no revenues yet, but plans to start production in Q3. Cash as of March-end was only $273m vs cash burn of $181m &amp; payment obligations of $193m.
FF's growth strategy is risky &amp; relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.    


Faraday Future (FFIE): Not Looking So Bright

Wanda Commercial Management Group / Equity Capital Markets

Wanda Commercial Management Group (1877881D CH)

<ul>
<li>Wanda Commercial Management Group (WCMG) is looking to raise up to US$4bn in its upcoming Hong Kong IPO.</li>
<li>WCMG is a commercial operation service provider. As of Oct 2021, the firm managed 398 malls with total gross floor area (GFA) under management of 56.5m sqm.</li>
<li>In this note, we will talk about the not so positive aspects of the deal.</li>
</ul>


Wanda Commercial Management Group (WCMG) is looking to raise up to US$4bn in its upcoming Hong Kong IPO.
WCMG is a commercial operation service provider. As of Oct 2021, the firm managed 398 malls with total gross floor area (GFA) under management of 56.5m sqm.
In this note, we will talk about the not so positive aspects of the deal.


Wanda Commercial Management Pre-IPO - The Negatives - Parents Leverage Status Will Be an Overhang

China

China Evergrande New Energy Vehicle Group Ltd. is primarily engaged in the research, development, production, and sales of new energy vehicles, including lithium batteries and automotive components. Its main vehicle brand is Hengchi, with the Hengchi 5 being its first mass-produced model. The company's registered office is in Hong Kong, and its new energy vehicle business was founded in 2019.

China Evergrande New Energy Vehicle (708 HK)

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China Evergrande New Energy Vehicle (708 HK)

Aequitas HK Placements Bookrunner Performance (2019-2022)

In this note, we will take a look at the performance of bookrunners for HK placements from 2019-2022 for all HK placements above US$100m from CY...

Ethan Aw

ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Faraday Future (FFIE) Delays New EV Launch; Says It Needs More Cash

Faraday Future (FFIE) delays its flagship EV launch and says it needs $325m in cash due to higher parts prices and cost overruns. PIPE deal could...

SC Capital

Faraday Future (FFIE): Not Looking So Bright

This could be a rollercoaster long/short event by Monday, May 16th on yet another fraudulent electric vehicle SPAC, which happens to have...

SC Capital

Wanda Commercial Management Pre-IPO - The Negatives - Parents Leverage Status Will Be an Overhang

Wanda Commercial Management Group (WCMG) is looking to raise up to US$4bn in its upcoming Hong Kong IPO. In this note, we talk about the not so...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)