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

Zhejiang Leapmotor Technologie / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zhejiang-leapmotor-technology" target="_blank" data-smartkarma-citation="entities:35968:1" rel="noopener">Leapmotor (9863 HK)</a> raised around US$800m in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.</li>
<li>As of end Jun 22, it had delivered a total of 104,829 cars with most of its sales coming from its mini units, T03.</li>
<li>In this note, we will talk about the demand for the deal and other trading dynamics.</li>
</ul>



Leapmotor (9863 HK) raised around US$800m in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
As of end Jun 22, it had delivered a total of 104,829 cars with most of its sales coming from its mini units, T03.
In this note, we will talk about the demand for the deal and other trading dynamics.


Leapmotor IPO - Weak Demand but Concentrated Allocation

<ul>
<li>CALB aims to raise up to US$1.7bn in its Hong Kong IPO.</li>
<li>CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.</li>
<li>In this note, we will run the deal through our ECM framework and talk about IPO pricing.</li>
</ul>


CALB aims to raise up to US$1.7bn in its Hong Kong IPO.
CALB undertakes design, R&amp;D, production and sales of EV batteries and Energy Storage Systems (ESS) products.
In this note, we will run the deal through our ECM framework and talk about IPO pricing.


CALB IPO - Low-End Appears Reasonable but Will Still Need Some Charging Support

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Drugs / In Depth: Why China’s regulators have cough medicine in their sights</li><li>Corruption / Former justice minister given suspended death sentence</li><li>Yuan / China and Kazakhstan set up offshore yuan clearing</li></ul>

Drugs / In Depth: Why China’s regulators have cough medicine in their sightsCorruption / Former justice minister given suspended death sentenceYuan / China and Kazakhstan set up offshore yuan clearing

CX Daily: Why China’s Regulators Have Cough Medicine in Their Sights

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/calb-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB (CALBLZ CH)</a> has launched its HKEx listing at HK$38.00-51.00 per share to raise up to US$1.7 billion. Books are open from 23 to 28 September.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/calb-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:80243" rel="noopener">CALB IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/calb-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:80286" rel="noopener">CALB IPO: The Bear Case</a>, <a href="https://www.smartkarma.com/insights/calb-ipo-updates-support-the-bull-case" target="_blank" data-smartkarma-citation="insights:80643" rel="noopener">CALB IPO: Updates Support the Bull Case</a>, <a href="https://www.smartkarma.com/insights/calb-ipo-what-s-it-worth" target="_blank" data-smartkarma-citation="insights:80842" rel="noopener">CALB IPO: What's It Worth?</a>.</li>
<li>CALB should be, at least, valued in line with the median peer multiples. CALB is attractively valued at the IPO price range. We would participate. </li>
</ul>



CALB (CALBLZ CH) has launched its HKEx listing at HK$38.00-51.00 per share to raise up to US$1.7 billion. Books are open from 23 to 28 September.
We previously discussed the IPO in CALB IPO: The Bull Case, CALB IPO: The Bear Case, CALB IPO: Updates Support the Bull Case, CALB IPO: What's It Worth?.
CALB should be, at least, valued in line with the median peer multiples. CALB is attractively valued at the IPO price range. We would participate. 


<ul>
<li>
<a href="https://www.smartkarma.com/entities/calb-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB (CALBLZ CH)</a>, a leading EV battery manufacturer, is seeking to raise US$2.0 billion through an HKEx IPO, according to press reports.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/calb-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:80243" rel="noopener">CALB IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/calb-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:80286" rel="noopener">CALB IPO: The Bear Case</a> and <a href="https://www.smartkarma.com/insights/calb-ipo-updates-support-the-bull-case" target="_blank" data-smartkarma-citation="insights:80643" rel="noopener">CALB IPO: Updates Support the Bull Case</a>.</li>
<li>In this note, we present our forecasts and take the first look at CALB's potential valuation range. </li>
</ul>



CALB (CALBLZ CH), a leading EV battery manufacturer, is seeking to raise US$2.0 billion through an HKEx IPO, according to press reports.
We previously discussed the IPO in CALB IPO: The Bull Case, CALB IPO: The Bear Case and CALB IPO: Updates Support the Bull Case.
In this note, we present our forecasts and take the first look at CALB's potential valuation range. 


Hong Kong

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (3750 HK)

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Contemporary Amperex Technology (CATL) (3750 HK)

Leapmotor IPO - Weak Demand but Concentrated Allocation

Leapmotor (9863 HK) raised around US$800m in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.

Sumeet Singh

CALB IPO - Low-End Appears Reasonable but Will Still Need Some Charging Support

CALB aims to raise up to US$1.7bn in its Hong Kong IPO. In this note, we talk about the deal valuations and run it through our ECM framework.

Sumeet Singh

CX Daily: Why China’s Regulators Have Cough Medicine in Their Sights

In Depth: Why China’s regulators have cough medicine in their sights. Former justice minister given suspended death sentence

Caixin Global

CALB IPO: Valuation Insights

CALB has launched its HKEx listing at HK$38.00-51.00 per share to raise up to US$1.7 billion. It is attractively valued at the IPO price range. We...

Arun George

CALB IPO: What's It Worth?

CALB is seeking to raise US$2.0 billion through an HKEx IPO. In this note, we present our forecasts and take the first look at CALB's potential...

Arun George

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52-week Range

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P/E

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