APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC 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

Kasumigaseki Hotel REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kasumigaseki-hotel-reit" target="_blank" data-smartkarma-citation="entities:45503:1" rel="noopener">Kasumigaseki Hotel REIT (401A JP)</a>  raised US$193m in its upcoming Japan IPO.</li>
<li>Kasumigaseki Hotel REIT Investment is a REIT with hotel assets. It is an investment corporation sponsored by affiliated developer, Kasumigaseki Capital.</li>
<li>In this note, we examine the IPO dynamics, and look at the firm’s valuation</li>
</ul>



Kasumigaseki Hotel REIT (401A JP)  raised US$193m in its upcoming Japan IPO.
Kasumigaseki Hotel REIT Investment is a REIT with hotel assets. It is an investment corporation sponsored by affiliated developer, Kasumigaseki Capital.
In this note, we examine the IPO dynamics, and look at the firm’s valuation


Kasumigaseki Hotel REIT IPO: Books Well Covered; Modest Upside from Here

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kasumigaseki-hotel-reit" target="_blank" data-smartkarma-citation="entities:45503:1" rel="noopener">Kasumigaseki Hotel REIT (401A JP)</a>  is looking to raise up to US$192m in its upcoming Japan IPO.</li>
<li>It is a REIT with hotel assets sponsored by affiliated developer, <a href="https://www.smartkarma.com/entities/kasumigaseki-capital-co-ltd" target="_blank" data-smartkarma-citation="entities:40162:1" rel="noopener">Kasumigaseki Capital (3498 JP)</a>.</li>
<li>In this note, we examine the IPO dynamics, and look at the firm’s valuation.</li>
</ul>



Kasumigaseki Hotel REIT (401A JP)  is looking to raise up to US$192m in its upcoming Japan IPO.
It is a REIT with hotel assets sponsored by affiliated developer, Kasumigaseki Capital (3498 JP).
In this note, we examine the IPO dynamics, and look at the firm’s valuation.


Kasumigaseki Hotel REIT IPO: Lags in Size but Priced at a Discount

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kasumigaseki-hotel-reit" target="_blank" data-smartkarma-citation="entities:45503:1" rel="noopener">Kasumigaseki Hotel REIT (401A JP)</a>  is looking to raise up to US$195m in its upcoming Japan IPO.</li>
<li>It is a REIT with hotel assets  sponsored by affiliated developer, <a href="https://www.smartkarma.com/entities/kasumigaseki-capital-co-ltd" target="_blank" data-smartkarma-citation="entities:40162:1" rel="noopener">Kasumigaseki Capital (3498 JP)</a>.</li>
<li>In this note, we examine the IPO dynamics, and undertake a peer comparison.</li>
</ul>



Kasumigaseki Hotel REIT (401A JP)  is looking to raise up to US$195m in its upcoming Japan IPO.
It is a REIT with hotel assets  sponsored by affiliated developer, Kasumigaseki Capital (3498 JP).
In this note, we examine the IPO dynamics, and undertake a peer comparison.


Kasumigaseki REIT Pre-IPO: Peer Comparison - Small Is Size but Matching Its Peers on Other Metrics

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kasumigaseki-hotel-reit" target="_blank" data-smartkarma-citation="entities:45503:1" rel="noopener">Kasumigaseki Hotel REIT (401A JP)</a>  is looking to raise up to US$195m in its upcoming Japan IPO.</li>
<li>It is a REIT with hotel assets, sponsored by <a href="https://www.smartkarma.com/entities/kasumigaseki-capital-co-ltd" target="_blank" data-smartkarma-citation="entities:40162:1" rel="noopener">Kasumigaseki Capital (3498 JP)</a> . </li>
<li>In this note, we look at the firm's past performance.</li>
</ul>



Kasumigaseki Hotel REIT (401A JP)  is looking to raise up to US$195m in its upcoming Japan IPO.
It is a REIT with hotel assets, sponsored by Kasumigaseki Capital (3498 JP) . 
In this note, we look at the firm's past performance.


Kasumigaseki Hotel REIT Pre-IPO: Young Hotel Assets and Improving Economics

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jul 4th. The aggregated net margin trading position is USD17,017m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Sanrio, Lasertec, Ntt Data, Ihi, Mitsubishi Heavy Industries, Softbank, Disco, Kawasaki Heavy Industries, Advantest, Mitsubishi Ufj Financial.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 4th. The aggregated net margin trading position is USD17,017m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Sanrio, Lasertec, Ntt Data, Ihi, Mitsubishi Heavy Industries, Softbank, Disco, Kawasaki Heavy Industries, Advantest, Mitsubishi Ufj Financial.


JPX Margin Trading Weekly (Jul 4th): Sanrio, Lasertec, Ntt Data, Ihi, Mitsubishi Heavy Industries

Japan

Kasumigaseki Capital Co.,Ltd. provides solar plant construction and development services. The Company offers electricity transmission, power system management, network maintenance, and other services. Kasumigaseki Capital serves customers in Japan.

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Kasumigaseki Capital (3498 JP)

Kasumigaseki Hotel REIT IPO: Books Well Covered; Modest Upside from Here

Kasumigaseki Hotel REIT raised US$193m in its upcoming Japan IPO. In this note, we examine the IPO dynamics, and look at the firm’s valuation.

Nicholas Tan

Kasumigaseki Hotel REIT IPO: Lags in Size but Priced at a Discount

Kasumigaseki Hotel REIT is looking to raise up to US$192m in its upcoming Japan IPO. In this note, we examine the IPO dynamics, and look at the...

Nicholas Tan

Kasumigaseki REIT Pre-IPO: Peer Comparison - Small Is Size but Matching Its Peers on Other Metrics

Kasumigaseki Hotel REIT is looking to raise up to US$195m in its upcoming Japan IPO. In this note, we examine the IPO dynamics, and undertake a...

Nicholas Tan

Kasumigaseki Hotel REIT Pre-IPO: Young Hotel Assets and Improving Economics

Kasumigaseki Hotel REIT is looking to raise up to US$195m in its upcoming Japan IPO. In this note, we look at the firm's past performance.

Nicholas Tan

JPX Margin Trading Weekly (Jul 4th): Sanrio, Lasertec, Ntt Data, Ihi, Mitsubishi Heavy Industries

We analyzed JPX margin trading positions report for the past week and highlighted Sanrio (8136 JP), Lasertec (6920 JP), Ntt Data (9613 JP), Ihi...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)