Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 10th (reported today). The aggregated short interest was USD28.1bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Woolworths, ANZ, Qbe Insurance, Qantas Airways, Cleanaway Waste Management.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 10th (reported today). The aggregated short interest was USD28.1bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Woolworths, ANZ, Qbe Insurance, Qantas Airways, Cleanaway Waste Management.


ASX Short Interest Weekly (Oct 10th): Woolworths, ANZ, Qbe Insurance, Qantas Airways

India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Equity Bottom-Up

<ul>
<li>Crizac is a play on growth of overseas education. Its network of agents help candidates file University applications, which are then processed by Crizac before passing it to the universities</li>
<li>Universities are increasingly outsourcing application and assessment processes to tap inbound students from emerging markets like India/China. 7mn people study abroad today, off which 3+mn are from India and China.</li>
<li>IPO is priced attractively at TTM PE of 28x. We estimate FY27 EPS of 11-13 and potential multiple of 30x implying an upside of 35-60% from IPO price of 245</li>
</ul>


Crizac is a play on growth of overseas education. Its network of agents help candidates file University applications, which are then processed by Crizac before passing it to the universities
Universities are increasingly outsourcing application and assessment processes to tap inbound students from emerging markets like India/China. 7mn people study abroad today, off which 3+mn are from India and China.
IPO is priced attractively at TTM PE of 28x. We estimate FY27 EPS of 11-13 and potential multiple of 30x implying an upside of 35-60% from IPO price of 245


CRIZAC IN: Upcoming IPO - Niche B2B Educational Platform: Should You Subscribe?

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 3rd (reported today). The aggregated short interest was USD28.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in ALS, Washington H Soul Pattinson&amp;Co, Brambles, CAR, Fortescue.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 3rd (reported today). The aggregated short interest was USD28.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in ALS, Washington H Soul Pattinson&amp;Co, Brambles, CAR, Fortescue.


ASX Short Interest Weekly (Oct 3rd): ALS, Washington H Soul Pattinson&Co, Brambles, CAR, Fortescue

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Sep 26th (reported today). The aggregated short interest was USD27.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Washington H Soul Pattinson&amp;Co, Northern Star Resources, Telix Pharmaceuticals, Goodman, TPG Telecom.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 26th (reported today). The aggregated short interest was USD27.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Washington H Soul Pattinson&amp;Co, Northern Star Resources, Telix Pharmaceuticals, Goodman, TPG Telecom.


ASX Short Interest Weekly (Sep 26th): Washington H Soul Pattinson&Co, Northern Star Resources

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Sep 19th (reported today). The aggregated short interest was USD26.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Northern Star Resources, Ramelius Resources, Brambles, Evolution Mining, Regis Resources.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 19th (reported today). The aggregated short interest was USD26.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Northern Star Resources, Ramelius Resources, Brambles, Evolution Mining, Regis Resources.


ASX Short Interest Weekly (Sep 19th): Northern Star Resources, Ramelius Resources, Brambles

Australia

IDP Education Limited provides student placement services to enroll into universities, schools, and colleges. The Company offers student services, such as university and course guidance, visa application and scholarships assistance, and pre-departure support services. IDP Education operates worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

IDP Education (IEL AU)

ASX Short Interest Weekly (Oct 10th): Woolworths, ANZ, Qbe Insurance, Qantas Airways

We analyzed ASX short interest report for the past week and highlight short interest changes in Woolworths, ANZ, Qbe Insurance, Qantas Airways,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 3rd): ALS, Washington H Soul Pattinson&Co, Brambles, CAR, Fortescue

We analyzed ASX short interest report for the past week and highlight short interest changes in ALS, Washington H Soul Pattinson&Co, Brambles, CAR,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Sep 26th): Washington H Soul Pattinson&Co, Northern Star Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in Washington H Soul Pattinson&Co, Northern Star...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Sep 19th): Northern Star Resources, Ramelius Resources, Brambles

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Ramelius Resources,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Oct 10th): Woolworths, ANZ, Qbe Insurance, Qantas Airways

We analyzed ASX short interest report for the past week and highlight short interest changes in Woolworths, ANZ, Qbe Insurance, Qantas Airways,...

Ke Yan, CFA, FRM

CRIZAC IN: Upcoming IPO - Niche B2B Educational Platform: Should You Subscribe?

Crizac is down 30% after it hit the upper end of our FV range (360-390). The correction is driven by negative sentiment after policy changes in US...

Himanshu Dugar

ASX Short Interest Weekly (Oct 3rd): ALS, Washington H Soul Pattinson&Co, Brambles, CAR, Fortescue

We analyzed ASX short interest report for the past week and highlight short interest changes in ALS, Washington H Soul Pattinson&Co, Brambles, CAR,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Sep 26th): Washington H Soul Pattinson&Co, Northern Star Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in Washington H Soul Pattinson&Co, Northern Star...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Sep 19th): Northern Star Resources, Ramelius Resources, Brambles

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Ramelius Resources,...

Ke Yan, CFA, FRM