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

Maynilad Water Services / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maynilad-water-services-inc" target="_blank" data-smartkarma-citation="entities:44852:1" rel="noopener">Maynilad Water Services</a> (MWS) raised around US$520m in its Philippines IPO.</li>
<li>MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Maynilad Water Services (MWS) raised around US$520m in its Philippines IPO.
MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


Maynilad Water Services IPO Trading - Main Peer Has Corrected, Still at a Yield Discount

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maynilad-water-services-inc" target="_blank" data-smartkarma-citation="entities:44852:1" rel="noopener">Maynilad Water Services (MYNLD PH)</a> (MWS) is looking to raise around US$450m in its upcoming Philippines IPO.</li>
<li>MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the IPO pricing</li>
</ul>



Maynilad Water Services (MYNLD PH) (MWS) is looking to raise around US$450m in its upcoming Philippines IPO.
MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.
We have looked at the past performance in our previous note. In this note, we talk about the IPO pricing


Maynilad Water Services IPO - Recent Updates, Peer Comparison and Thoughts on Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maynilad-water-services-inc" target="_blank" data-smartkarma-citation="entities:44852:1" rel="noopener">Maynilad Water Services (MYNLD PH)</a>  (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO.</li>
<li>MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Maynilad Water Services (MYNLD PH)  (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO.
MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.
In this note, we talk about the not-so-positive aspects of the deal.


Maynilad Water Services Pre-IPO - The Negatives - Growth Hasn’t Always Been as Strong

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maynilad-water-services-inc" target="_blank" data-smartkarma-citation="entities:44852:1" rel="noopener">Maynilad Water Services (MYNLD PH)</a> (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO.</li>
<li>MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Maynilad Water Services (MYNLD PH) (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO.
MWS is a leading global water utility player operating the largest concession by population served within a single concession area in the Philippines and Southeast Asia (SEA), as per GlobalData.
In this note, we talk about the positive aspects of the deal.


Maynilad Water Services Pre-IPO - The Positives - Key Infrastructure Provider

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

The <a href="https://www.smartkarma.com/entities/philippines-stock-exchange-psei-index" target="_blank" data-smartkarma-citation="entities:22912:1" rel="noopener">Philippines Stock Exchange PSEi Index (PCOMP INDEX)</a> is the main index of the Philippines Stock Exchange (PSE). The index is free float market cap weighted and is made up of the 30 largest and most active common stocks listed at the PSE.Even though the passive assets tracking the index are very small, the strategy of buying the inclusions and selling the exclusions has performed very well at every rebalance over the last 5 years.For the August rebalance, we see a possibility of <a href="https://www.smartkarma.com/entities/ac-energy-corp" target="_blank" data-smartkarma-citation="entities:23188:1" rel="noopener">AC Energy Corp (ACEN PM)</a> being included in the index, which would see <a href="https://www.smartkarma.com/entities/dmci-holdings-inc" target="_blank" data-smartkarma-citation="entities:8026:1" rel="noopener">DMCI Holdings (DMC PM)</a> being excluded.The SEC has approved <a href="https://www.smartkarma.com/entities/ac-energy-corp" target="_blank" data-smartkarma-citation="entities:23188:1" rel="noopener">AC Energy Corp (ACEN PM)</a>'s <a href="https://acenergy.ph/wp-content/uploads/2021/04/SEC-17C-Update-on-the-Company-Follow-on-Offering.pdf" target="_blank" rel="noopener">follow on offering</a> for the sale of 2.01bn shares at a price range of PHP 6-8.2/share, of which 1.58bn shares will be a primary offering and 330.248m shares will be a secondary offering by AC Energy &amp; Infrastructure Corp (ACEIC). The public offering will run from 3-7 May and the shares will be listed on 14 May.

The Philippines Stock Exchange PSEi Index (PCOMP INDEX) is the main index of the Philippines Stock Exchange (PSE). The index is free float market cap weighted and is made up of the 30 largest and most active common stocks listed at the PSE.Even though the passive assets tracking the index are very small, the strategy of buying the inclusions and selling the exclusions has performed very well at every rebalance over the last 5 years.For the August rebalance, we see a possibility of AC Energy Corp (ACEN PM) being included in the index, which would see DMCI Holdings (DMC PM) being excluded.The SEC has approved AC Energy Corp (ACEN PM)'s follow on offering for the sale of 2.01bn shares at a price range of PHP 6-8.2/share, of which 1.58bn shares will be a primary offering and 330.248m shares will be a secondary offering by AC Energy &amp; Infrastructure Corp (ACEIC). The public offering will run from 3-7 May and the shares will be listed on 14 May.

PSEi Index Rebalance Preview: Follow-On Offering Could See ACEN Added, DMC Deleted

Philippines

First Metro Philippine Equity Exchange Traded Fund is an exchange-traded fund incorporated in the Philippines.  The Fund seeks to track the performance of the PSE Index.

First Metro Philippine Equity Exchange Traded Fund (FMETF PM)

First Metro Philippine Equity Exchange Traded Fund

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First Metro Philippine Equity Exchange Traded Fund (FMETF PM)

Maynilad Water Services IPO Trading - Main Peer Has Corrected, Still at a Yield Discount

Maynilad Water Services (MWS) raised around US$520m in its Philippines IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

Maynilad Water Services IPO - Recent Updates, Peer Comparison and Thoughts on Valuation

Maynilad Water Services (MYNLD PH) (MWS) is looking to raise around US$450m in its upcoming Philippines IPO. In this note, we talk about the IPO...

Sumeet Singh

Maynilad Water Services Pre-IPO - The Negatives - Growth Hasn’t Always Been as Strong

Maynilad Water Services (MYNLD PH) (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO. In this note, we talk about the not...

Sumeet Singh

Maynilad Water Services Pre-IPO - The Positives - Key Infrastructure Provider

Maynilad Water Services (MYNLD PH) (MWS) is looking to raise at least US$633m in its upcoming Philippines IPO. In this note, we talk about the...

Sumeet Singh

PSEi Index Rebalance Preview: Follow-On Offering Could See ACEN Added, DMC Deleted

AC Energy could be added to the PCOMP Index due to its upcoming follow-on offering. DMCI could be deleted. Inclusions have historically...

Brian Freitas

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52-week Range

Market Cap (USDm)

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