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.

Event-Driven

<ul>
<li>APM Human Services (APM) raised about US$730m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire later this month.</li>
<li>APM is an international human services provider, it runs 800 sites spanning 10 countries with its largest market being Australia.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


APM Human Services (APM) raised about US$730m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire later this month.
APM is an international human services provider, it runs 800 sites spanning 10 countries with its largest market being Australia.
In this note, we will talk about the lock-up dynamics and updates since our last note.


APM Human Services IPO Lock-Up - PE with a US$620m Stake Comes Free

<ul>
<li>Judo Capital raised about US$483m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire later this month.</li>
<li>Judo Capital (JC) focuses on lending to small and medium-sized enterprises (SMEs) in Australia. It also offers a range of personal term deposit products to consumers.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


Judo Capital raised about US$483m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire later this month.
Judo Capital (JC) focuses on lending to small and medium-sized enterprises (SMEs) in Australia. It also offers a range of personal term deposit products to consumers.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Judo Capital IPO Lock-Up - Gearing up for a A$650m Lock-Up Release

Equity Capital Markets

<ul>
<li>GQG Partners (GQG) raised US$868m in its Australia IPO in Oct 2021. Its IPO linked lockup is set to expire soon.</li>
<li>GQG is a global investment boutique with a focus on managing active equity portfolios.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


GQG Partners (GQG) raised US$868m in its Australia IPO in Oct 2021. Its IPO linked lockup is set to expire soon.
GQG is a global investment boutique with a focus on managing active equity portfolios.
In this note, we will talk about the lock-up dynamics and updates since our last note.


GQG Partners IPO Lock-Up - Tightly Held by Founders, PAC Could Exit

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The March 2022 regular rebalance constituency changes for ASX 300, ASX 200, ASX 50, and ASX 20 were announced on 4th March 2022.</li>
<li>These constituency changes will be implemented at the close of 18th March 2022 (Friday) and will be effective from the open on 21st March 2022 (Monday). </li>
<li>Below is a discussion on the performance of these candidates so far and our expectation for the next few weeks.</li>
</ul>


The March 2022 regular rebalance constituency changes for ASX 300, ASX 200, ASX 50, and ASX 20 were announced on 4th March 2022.
These constituency changes will be implemented at the close of 18th March 2022 (Friday) and will be effective from the open on 21st March 2022 (Monday). 
Below is a discussion on the performance of these candidates so far and our expectation for the next few weeks.


S&P/ASX Indices: March 2022 Rebalance Update and Post-Inclusion Outlook

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<ul>
<li>Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.</li>
<li>An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.</li>
<li>Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.</li>
</ul>


Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.
An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.
Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.


Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

Australia

Judo Capital Holdings Limited operates as a holding company. The Company through its subsidairies, offers business loans, credit, and equipment loans, as well as renders financing and leasing services. Judo Capital serves customers in Australia.

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

Judo Capital (JDO AU)

APM Human Services IPO Lock-Up - PE with a US$620m Stake Comes Free

APM Human Services (APM) raised about US$730m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire...

Sumeet Singh

Judo Capital IPO Lock-Up - Gearing up for a A$650m Lock-Up Release

Judo Capital raised about US$483m by selling a mix of primary and secondary shares in Nov 21. Its IPO linked lockup is set to expire later this month.

Sumeet Singh

GQG Partners IPO Lock-Up - Tightly Held by Founders, PAC Could Exit

GQG Partners (GQG) raised US$868m in its Australia IPO in Oct 2021. Its IPO linked lockup is set to expire soon, soon after it reports its results.

Sumeet Singh

S&P/ASX Indices: March 2022 Rebalance Update and Post-Inclusion Outlook

A discussion of the performance of the S&P/ASX Index Rebalance candidates for March 2022 and a look at the expectations for performance in the Post...

Janaghan Jeyakumar, CFA

Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)