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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-group" target="_blank" data-smartkarma-citation="entities:39907:1" rel="noopener">Syngenta Group (1844795D CH)</a> is looking to raise around US$9.2bn in its upcoming China A-share IPO.</li>
<li>Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.</li>
<li>In this note, we will talk about the not so positive aspects of the deal.</li>
</ul>



Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO.
Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.
In this note, we will talk about the not so positive aspects of the deal.


Syngenta Pre-IPO - The Negatives - Margins Remain Razor Thin and Parent on Sanction List

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-group" target="_blank" data-smartkarma-citation="entities:39907:1" rel="noopener">Syngenta Group (1844795D CH)</a> is looking to raise around US$9.2bn in its upcoming China A-share IPO.</li>
<li>Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO.
Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.
In this note, we will talk about the positive aspects of the deal.


Syngenta Pre-IPO - The Positives - Giant in the Agriculture Industry Set to Benefit from Policies

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul>
<li>WTR-CMI last week. In a week when the broad market index (Russell 2000) declined 3.6%, our WTR-CMI index of 30 chemicals and materials technology companies modestly outperformed, dropping 2.3%.</li>
<li>This nonetheless trailed the large-cap S&amp;P 500 index, which lost only 1.8% of its value during the week.</li>
<li>Benefiting from improved investor sentiment on possibly higher summer sales of insecticides, improving automotive and construction markets, and lower raw material costs that we discussed last week, ag-chem and coatings companies led the performance of our index.</li>
</ul>


WTR-CMI last week. In a week when the broad market index (Russell 2000) declined 3.6%, our WTR-CMI index of 30 chemicals and materials technology companies modestly outperformed, dropping 2.3%.
This nonetheless trailed the large-cap S&amp;P 500 index, which lost only 1.8% of its value during the week.
Benefiting from improved investor sentiment on possibly higher summer sales of insecticides, improving automotive and construction markets, and lower raw material costs that we discussed last week, ag-chem and coatings companies led the performance of our index.


Industry Report - Chemicals & Materials Technology

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>Corteva delivered a strong result and managed an all-around beat in the last quarter.</li><li>The company achieved strong organic sales and earnings growth, surpassing the EBITDA margin threshold for the first time.</li><li>The company's leadership team anticipates stabilizing global supplies with two consecutive normal crop years amid tight inventories and above-average crop prices.</li></ul>

Corteva delivered a strong result and managed an all-around beat in the last quarter.The company achieved strong organic sales and earnings growth, surpassing the EBITDA margin threshold for the first time.The company's leadership team anticipates stabilizing global supplies with two consecutive normal crop years amid tight inventories and above-average crop prices.

Corteva Inc.: Remarkable Strides in Biofuels and Biologicals & Other Drivers

<ul><li>WTR-CMI last week. In what was a mixed week for the market, with S&amp;P 500 appreciating 0.9% and the Russell 2000 slipping 1.3%, our WTR-CMI index of 30 specialty chemicals and materials stocks outperformed both broader indexes by appreciating 1.1%, led by a recovery in prices of lithium stocks, which took a tumble the previous week after the announcement of the Chilean government’s intention to increase its financial participation in large lithium projects in the country.</li><li>Better weather drives stronger planting progress. Following last year’s planting delays caused by unseasonal weather, the 2023 planting season in the US is picking up the pace after a slower start, with both corn and soybean planting well ahead of last year<span style="font-size: var(--content-font-size);"> and the five-year average, boding well for North American crop protection and the fertilizer market, at least when it comes to demand.</span></li><li>Chinese auto sales look to rise. According to the China Automobile Dealers Association, the country should see a 50% surge in Y/Y new passenger vehicle sales<span style="font-size: var(--content-font-size);"> in April, following a strong March, compared with the COVID lockdown period a year ago.</span></li></ul>

WTR-CMI last week. In what was a mixed week for the market, with S&amp;P 500 appreciating 0.9% and the Russell 2000 slipping 1.3%, our WTR-CMI index of 30 specialty chemicals and materials stocks outperformed both broader indexes by appreciating 1.1%, led by a recovery in prices of lithium stocks, which took a tumble the previous week after the announcement of the Chilean government’s intention to increase its financial participation in large lithium projects in the country.Better weather drives stronger planting progress. Following last year’s planting delays caused by unseasonal weather, the 2023 planting season in the US is picking up the pace after a slower start, with both corn and soybean planting well ahead of last year and the five-year average, boding well for North American crop protection and the fertilizer market, at least when it comes to demand.Chinese auto sales look to rise. According to the China Automobile Dealers Association, the country should see a 50% surge in Y/Y new passenger vehicle sales in April, following a strong March, compared with the COVID lockdown period a year ago.

Mat-Chem Notes : For the Week Ended April 28, 2023

United States

Corteva, Inc. provides agricultural products. The Company offers seeds and crop protection products, as well as software solutions and digital services. Corteva serves customers worldwide.

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Corteva (CTVA US)

Syngenta Pre-IPO - The Negatives - Margins Remain Razor Thin and Parent on Sanction List

Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO. In this note, we will talk about the not so...

Clarence Chu

Syngenta Pre-IPO - The Positives - Giant in the Agriculture Industry Set to Benefit from Policies

Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO. In this note, we will talk about the positive...

Clarence Chu

Industry Report - Chemicals & Materials Technology

In a week when the broad market index (Russell 2000) declined 3.6%, our WTR-CMI index of 30 chemicals and materials technology companies modestly...

Water Tower Research

Corteva Inc.: Remarkable Strides in Biofuels and Biologicals & Other Drivers

Corteva delivered a strong result and managed an all-around beat in the last quarter. The company achieved strong organic sales and earnings...

Baptista Research

Mat-Chem Notes : For the Week Ended April 28, 2023

WTR-CMI last week. In what was a mixed week for the market, with S&P 500 appreciating 0.9% and the Russell 2000 slipping 1.3%

Water Tower Research

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