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

Press Metal Aluminium Holdin / Equity Capital Markets

<ul>
<li>Press Metal Aluminum Holdings (PMAH) aims to raise around US$233m via a primary placement.</li>
<li>The stock has been doing well on the back of buoyant Aluminum prices over the past few months.</li>
<li>In this note, we will run the deal through our ECM framework and talk about the recent updates.</li>
</ul>


Press Metal Aluminum Holdings (PMAH) aims to raise around US$233m via a primary placement.
The stock has been doing well on the back of buoyant Aluminum prices over the past few months.
In this note, we will run the deal through our ECM framework and talk about the recent updates.


Press Metals Aluminum Holdings Placement - Well Flagged Deal, Stock Has Done Well

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> raised around US$239m in its Malaysia IPO. </li>
<li>In our view, the firm’s stronger margins and better growth potential warrants a premium to its other domestic peers.</li>
<li>In this note, we will talk about the updates since then and the trading dynamics.</li>
</ul>



Farm Fresh Berhad (FF MY) raised around US$239m in its Malaysia IPO. 
In our view, the firm’s stronger margins and better growth potential warrants a premium to its other domestic peers.
In this note, we will talk about the updates since then and the trading dynamics.


Farm Fresh IPO Trading - Solid Subscription, Should Come in at a Premium to Domestic Peers

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/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> is a leading vertically integrated dairy player in Malaysia. It has launched an IPO to raise $239 million.</li>
<li>In <a href="https://www.smartkarma.com/insights/farm-fresh-ipo-initiation-bet-the-farm" target="_blank" data-smartkarma-citation="insights:66352" rel="noopener">Farm Fresh IPO Initiation: Bet the Farm</a>, we stated that the IPO is worth a closer look on a fundamental basis. The offer period is from 28 February-10 March.  </li>
<li>30 cornerstone investors will take up c.80% of the institutional offering tranche. Our valuation analysis suggests that the IPO price is attractive. </li>
</ul>



Farm Fresh Berhad (FF MY) is a leading vertically integrated dairy player in Malaysia. It has launched an IPO to raise $239 million.
In Farm Fresh IPO Initiation: Bet the Farm, we stated that the IPO is worth a closer look on a fundamental basis. The offer period is from 28 February-10 March.  
30 cornerstone investors will take up c.80% of the institutional offering tranche. Our valuation analysis suggests that the IPO price is attractive. 


<ul>
<li>
<a href="https://www.smartkarma.com/entities/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> is a leading vertically integrated dairy player in Malaysia. It has launched an IPO to raise $239 million. </li>
<li>The business is navigating the normalisation of consumer demand and input cost inflation by delivering healthy growth, market share gains, creditable margin performance and cash generation. </li>
<li>Overall, this IPO is worth a closer look. The offer period is from 28 February to 10 March. The listing is on 22 March.   </li>
</ul>



Farm Fresh Berhad (FF MY) is a leading vertically integrated dairy player in Malaysia. It has launched an IPO to raise $239 million. 
The business is navigating the normalisation of consumer demand and input cost inflation by delivering healthy growth, market share gains, creditable margin performance and cash generation. 
Overall, this IPO is worth a closer look. The offer period is from 28 February to 10 March. The listing is on 22 March.   


<ul>
<li>
<a href="https://www.smartkarma.com/entities/farm-fresh-berhad" target="_blank" data-smartkarma-citation="entities:34617:1" rel="noopener">Farm Fresh Berhad (FF MY)</a> is looking to raise US$239m in its Malaysia IPO.</li>
<li>While not exactly the cheapest per se, including Nestle Malaysia, were the firm to trade towards its domestic peer’s simple average, there is an upside potential of 26%-33.3%. </li>
<li>In this note, we will look at peers, assumptions, and share our thoughts on valuation.</li>
</ul>



Farm Fresh Berhad (FF MY) is looking to raise US$239m in its Malaysia IPO.
While not exactly the cheapest per se, including Nestle Malaysia, were the firm to trade towards its domestic peer’s simple average, there is an upside potential of 26%-33.3%. 
In this note, we will look at peers, assumptions, and share our thoughts on valuation.


Farm Fresh IPO - Not the Cheapest but Could Be Worth the Price

Malaysia

Farm Fresh Berhad provides dairy products. The Company offers a wide variety of milk and flavored yogurt. Farm Fresh serves customers in Malaysia.

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Farm Fresh (FFB MK)

Press Metals Aluminum Holdings Placement - Well Flagged Deal, Stock Has Done Well

Press Metal Aluminum Holdings (PMAH) aims to raise around US$233m via a primary placement. In this note, we will run the deal through our ECM...

Sumeet Singh

Farm Fresh IPO Trading - Solid Subscription, Should Come in at a Premium to Domestic Peers

Farm Fresh Berhad (FF MY) raised around US$239m in its Malaysia IPO. In our view, the firm’s stronger margins and better growth potential warrants...

Clarence Chu

Farm Fresh IPO: Valuation Insights

The IPO price is attractive for a market-leading business. The offer period is from 28 February to 10 March. The listing is on 22 March.

Arun George

Farm Fresh IPO Initiation: Bet the Farm

Farm Fresh has launched an IPO to raise RM1 bn (US$239 m). The fundamentals are sound and this IPO is worth a look. The offer period is from 28...

Arun George

Farm Fresh IPO - Not the Cheapest but Could Be Worth the Price

Farm Fresh Berhad (FF MY) is looking to raise US$239m in its Malaysia IPO. In this note, we will look at peers, assumptions, and share our thoughts...

Clarence Chu

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