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

Ningbo Tuopu Group   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ningbo-tuopu-group-co-ltd" target="_blank" data-smartkarma-citation="entities:25181:1" rel="noopener">Ningbo Tuopu Group (601689 CH)</a> (NT), an integrated system solution provider for automotive OEMs, aims to raise around US$1bn in its H-share listing.</li>
<li>According to CIC, NT was the largest Chinese supplier of soft-touch interior components and the second-largest Chinese supplier of air suspension systems and vibration control systems.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Ningbo Tuopu Group (601689 CH) (NT), an integrated system solution provider for automotive OEMs, aims to raise around US$1bn in its H-share listing.
According to CIC, NT was the largest Chinese supplier of soft-touch interior components and the second-largest Chinese supplier of air suspension systems and vibration control systems.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Ningbo Tuopu A/H Listing - Revenue Growth Has Been Strong, Margins Lagging

Investing in high growth Asian frontier economies., Asia Frontier Capital

Scott Osheroff

Investing in high growth Asian frontier economies.

Asia Frontier Capital

Asia Frontier Capital Ltd. is a pioneering fund management company based in Hong Kong that specializes in investing in high growth Asian frontier economies by managing the AFC Asia Frontier Fund , AFC Iraq Fund and the AFC Vietnam Fund.

The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.

The AFC Iraq Fund was launched on the 26th June 2015 and aims to achieve long-term capital appreciation for investors by capturing value and growth potential in the post conflict high-growth & resource rich Iraq market. The fund emphasises long term investment horizon to truly capture the opportunity in Iraq. The fund's investable universe consists of locally listed companies that have their principal business activities in Iraq as well as foreign listed companies that have the majority of the business in Iraq as a whole including the prosperous Kurdish Region of Iraq (KRI). The AFC Iraq Fund offers access to investments in post conflict recovery potential of Iraq, including the KRI, and/or stability in its territory. The AFC Iraq Fund is managed by Asia Frontier Capital (Iraq) Limited, Cayman Islands under the executive leadership team of Thomas Hugger (CEO & Fund Manager) and Ahmed Tabaqchali (CIO) who have more than 47 years of investment experience as well as an extensive background covering global, emerging, frontier and MENA markets.

The AFC Vietnam Fund invests exclusively in listed Vietnamese equities to capture value in growth companies with a focus on the small to medium size companies. This market segment offers a unique investment opportunity as the valuation gap between large- and small-cap stocks in Vietnam is presently much wider than in comparable neighboring markets and the valuations are significantly depressed versus their regional peers. The fund adopts a fundamental-quantitative approach and employs an in-house earnings model to identify attractive companies where we see high growth opportunities. In conjunction with targeting the maximum upside potential the portfolio has been structured to mitigate corporate government and liquidity risks. The fund invests in a diversified portfolio of 70-90 attractively valued companies to carefully control concentration risk.  This approach allows the fund to sell, or buy, positions without having a significant market impact. The fund is directed under the executive leadership of Thomas Hugger and Andreas Vogelsanger who have more than 50 years combined experience managing investments in frontier markets, Asia and around the world.

For more information about the fund, management team and investment strategy please contact us at info@asiafrontiercapital.com.

Thematic (Sector/Industry)

<p><em>In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos to visit portfolio companies and other companies on our shortlist. The photos in this article are all by AFC.</em></p>

In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos to visit portfolio companies and other companies on our shortlist. The photos in this article are all by AFC.

Asia Frontier Capital Travel Report: Laos

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<p>2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.</p>

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

Global Gaming and Casinos Industry Specialist

<ul><li><a href="https://www.smartkarma.com/entities/807" target="_blank" data-smartkarma-citation="entities:807">Las Vegas Sands Corp (LVS US)</a>  Chairman Sheldon Adelson has put the sale sign up on The Shoppes at Marina Bay Sands Mall in Singapore, strongly believing it could fetch "a hefty price". Observers believe his number for the entire property is US$5.5 billion.</li><li>Proceeds from such a sale could more than double the LVS cash position of $2.13bn shown on the balance sheet as of December 31, 2016, arming the company with an immense war chest to either finance a potential mega integrated resort in Japan's coming market or declare a special cash dividend.</li><li>LVS shares now trading around US$52 do not reflect any deal yet but could be headed for a big bump later this year if the company gets the licensing nod from Japan officials.</li></ul>

Las Vegas Sands Corp (LVS US)  Chairman Sheldon Adelson has put the sale sign up on The Shoppes at Marina Bay Sands Mall in Singapore, strongly believing it could fetch "a hefty price". Observers believe his number for the entire property is US$5.5 billion.Proceeds from such a sale could more than double the LVS cash position of $2.13bn shown on the balance sheet as of December 31, 2016, arming the company with an immense war chest to either finance a potential mega integrated resort in Japan's coming market or declare a special cash dividend.LVS shares now trading around US$52 do not reflect any deal yet but could be headed for a big bump later this year if the company gets the licensing nod from Japan officials.

Proposed Sale of 49% of Singapore Mall Could Bring $3.3 Billion in Cash to LVS Japan War Chest

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

<p>It has been slightly over half a year since I joined this community, so here is a brief summary of stock calls that worked and stock calls that didn't work for me. </p><blockquote><p style="text-align: center;"><strong>But first, a note of thanks to the SK community</strong></p></blockquote><p>Besides doing an update, it is also an opportunity to thank everyone here at Smartkarma for your wonderful support (especially the Data Desk team) and collaborative work with fellow insight providers. Looking forward to a stellar year ahead together!</p><h2>Table showing IPO deals covered</h2><table class="table table-striped"><tbody>
<tr>
<td><strong>IPO</strong></td>
</tr>
</tbody></table>…

It has been slightly over half a year since I joined this community, so here is a brief summary of stock calls that worked and stock calls that didn't work for me. But first, a note of thanks to the SK communityBesides doing an update, it is also an opportunity to thank everyone here at Smartkarma for your wonderful support (especially the Data Desk team) and collaborative work with fellow insight providers. Looking forward to a stellar year ahead together!Table showing IPO deals covered

IPO

…

China

Dongfeng Motor Group is a major Chinese automotive manufacturer engaged in the research, development, production, and sale of commercial and passenger vehicles, engines, and auto parts. The company offers a wide range of vehicles, including trucks, buses, sedans, SUVs, and new energy vehicles, alongside providing financing services. It is headquartered in Wuhan, China, and was founded in 1969.

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Dongfeng Motor (489 HK)

Aequitas: Ningbo Tuopu A/H Listing - Revenue Growth Has Been Strong, Margins Lagging

Ningbo Tuopu Group (601689 CH) (NT), an integrated system solution provider for automotive OEMs, aims to raise around US$1bn in its H-share...

Sumeet Singh

Asia Frontier Capital Travel Report: Laos

In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos...

Asia Frontier Capital

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the...

Euromonitor International Ltd.

Proposed Sale of 49% of Singapore Mall Could Bring $3.3 Billion in Cash to LVS Japan War Chest

Las Vegas Sands Corp (LVS US) Chairman Sheldon Adelson has put the sale sign up on The Shoppes at Marina Bay Sands Mall in Singapore, strongly...

Howard J Klein

A Summary of Stock Calls and Actions

It has been slightly over half a year since I joined this community, so here is a brief summary of stock calls that worked and stock calls that...

Valerie Law, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)