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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> is looking to raise around US$5.2bn via selling 4% additional shares.</li>
<li>The company has undertaken a few deals before and they have ended up performing well.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



BYD (1211 HK) is looking to raise around US$5.2bn via selling 4% additional shares.
The company has undertaken a few deals before and they have ended up performing well.
In this note, we will talk about the placement and run the deal through our ECM framework.


BYD US$5.2bn Placement - Large Only in Absolute Size, past Deals Have Done Well

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

<ul>
<li>The Bank of Korea is expected to cut interest rates to 2.75% on 25 February 2025. The decision, however, is not expected to be unanimous and some analysts argue against.</li>
<li>Historical data from 120 BoK announcements and subsequent moves in the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)</a> is examined.</li>
<li>Options market pricing seems to lean toward a "surprise and no-change" outcome. Traders can seek opportunities with short straddles or long puts depending on anticipated outcomes.</li>
</ul>


The Bank of Korea is expected to cut interest rates to 2.75% on 25 February 2025. The decision, however, is not expected to be unanimous and some analysts argue against.
Historical data from 120 BoK announcements and subsequent moves in the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY) is examined.
Options market pricing seems to lean toward a "surprise and no-change" outcome. Traders can seek opportunities with short straddles or long puts depending on anticipated outcomes.


KOSPI 200 - Upcoming BOK Rate Decision: Navigating Market Moves and Profit Opportunities

HD Hyundai Marine Solution  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kkr-co-inc" target="_blank" data-smartkarma-citation="entities:27333:1" rel="noopener">KKR &amp; Co (KKR US)</a> is looking to raise around US$160m via selling some of its stake in <a href="https://www.smartkarma.com/entities/hd-hyundai-marine-solution-co" target="_blank" data-smartkarma-citation="entities:41002:1" rel="noopener">HD Hyundai Marine Solution (443060 KS)</a> .</li>
<li>KKR had come out of its IPO linked lockup in Nov 2024 and had earlier tried to launch a deal in Dec 2024. Hence, the selldown is very well flagged.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



KKR &amp; Co (KKR US) is looking to raise around US$160m via selling some of its stake in HD Hyundai Marine Solution (443060 KS) .
KKR had come out of its IPO linked lockup in Nov 2024 and had earlier tried to launch a deal in Dec 2024. Hence, the selldown is very well flagged.
In this note, we will talk about the placement and run the deal through our ECM framework.


HD Hyundai Marine Placement - Very Well Flagged but Overhang Remains

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hyundai-motor-india-ltd" target="_blank" data-smartkarma-citation="entities:40900:1" rel="noopener">Hyundai Motor India</a> was added to MSCI Global Standard Index. The changes will take effect at the close of February 28, with an effective date of March 3, 2025</li>
<li>Despite being India's second-largest passenger vehicle brand with over 13% market share, Hyundai Motor India Ltd (HMIL) faces stiff competition and sluggish industry growth.</li>
<li>In 2025, HMIL has potential to drive sales and market share gains by capitalising on the high-growth EV and CNG segments with model launches; exports recovery too will be critical.</li>
</ul>



Hyundai Motor India was added to MSCI Global Standard Index. The changes will take effect at the close of February 28, with an effective date of March 3, 2025
Despite being India's second-largest passenger vehicle brand with over 13% market share, Hyundai Motor India Ltd (HMIL) faces stiff competition and sluggish industry growth.
In 2025, HMIL has potential to drive sales and market share gains by capitalising on the high-growth EV and CNG segments with model launches; exports recovery too will be critical.


Hyundai Motor India: MSCI Index Inclusion. Is It Enough to Fast-Track HMIL?

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Samsung Fire & Marine Insurance / Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stocks picks in the Korean stock market for the two weeks starting 3 February.</li>
<li>The top 10 stock picks include Orion Holdings, OCI Holdings, Hana Tour Service, Hyundai Motor, KT Corp, Samsung F&amp;M Insurance, Korean Air, Hankook T&amp;T, Young Poong, and NICE Info Service.</li>
<li><em><strong>Our top 10 Korean stock picks from 17 to 31 January are up on average 2.6%, outperforming KOSPI which is down 0.1% in the same period. </strong></em></li>
</ul>


In this insight, we provide the top 10 stocks picks in the Korean stock market for the two weeks starting 3 February.
The top 10 stock picks include Orion Holdings, OCI Holdings, Hana Tour Service, Hyundai Motor, KT Corp, Samsung F&amp;M Insurance, Korean Air, Hankook T&amp;T, Young Poong, and NICE Info Service.
Our top 10 Korean stock picks from 17 to 31 January are up on average 2.6%, outperforming KOSPI which is down 0.1% in the same period. 


Top 10 Korean Stock Picks Bi-Weekly (3 February 2025)

South Korea

Hyundai Motor Company manufactures, sells, and exports passenger cars, trucks, and commercial vehicles. The Company also sells various auto parts and operates auto repair service centers throughout South Korea. Hyundai Motor provides financial services through its subsidiaries.

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Hyundai Motor (005387 KS)

BYD US$5.2bn Placement - Large Only in Absolute Size, past Deals Have Done Well

BYD (1211 HK) is looking to raise around US$5.2bn via selling 4% additional shares. In this note, we run the deal through our ECM framework.

Sumeet Singh

KOSPI 200 - Upcoming BOK Rate Decision: Navigating Market Moves and Profit Opportunities

Timely reminder of the anticipated 0.25% Rate Cut by the Bank of Korea tomorrow, 25 Feb. The outcome of the decision is far from certain, and...

Gaudenz Schneider

HD Hyundai Marine Placement - Very Well Flagged but Overhang Remains

KKR & Co (KKR US) is looking to raise around US$160m via selling some of its stake in HD Hyundai Marine Solution (443060 KS) . In this note, we...

Sumeet Singh

Hyundai Motor India: MSCI Index Inclusion. Is It Enough to Fast-Track HMIL?

Index inclusion could attract wider investor interest. HMIL’s 2025 EV and CNG new/facelift model launches target high-growth niches to drive sales...

Devi Subhakesan

Top 10 Korean Stock Picks Bi-Weekly (3 February 2025)

We provide the top 10 stocks picks in the Korean stock market for the two weeks starting 3 February. Our top 10 Korean stock picks from 17 to 31...

Douglas Kim

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52-week Range

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