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>Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. It undertakes mining of lithium ore and manufacturing of lithium concentrate, lithium compounds and derivatives.</li>
<li>TL was the largest producer of mined lithium globally in terms of output and ranked third in terms of revenue generated from lithium in 2020, according to Wood Mackenzie .</li>
<li>In this note, we take a closer look at valuations and where peers are trading in terms of A/H premium.</li>
</ul>


Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. It undertakes mining of lithium ore and manufacturing of lithium concentrate, lithium compounds and derivatives.
TL was the largest producer of mined lithium globally in terms of output and ranked third in terms of revenue generated from lithium in 2020, according to Wood Mackenzie .
In this note, we take a closer look at valuations and where peers are trading in terms of A/H premium.


Tianqi Lithium A/H Listing - PHIP Updates and a Closer Look at Valuations

Sona Blw Precision Forgings Lt / Equity Capital Markets

<ul>
<li>Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. </li>
<li>The shares are now trading well above the IPO price and its largest PE investor, Blackstone, will be released from its lockup soon.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. 
The shares are now trading well above the IPO price and its largest PE investor, Blackstone, will be released from its lockup soon.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Sona Comstar Lock-Up - Blackstone up 17x, Sold Half in the IPO with over US$1bn Left

<ul>
<li>Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. It undertakes mining of lithium ore and manufacturing of lithium concentrate, lithium compounds and derivatives.</li>
<li>TL was the largest producer of mined lithium globally in terms of output and ranked third in terms of revenue generated from lithium in 2020, according to Wood Mackenzie .</li>
<li>In this note, we look at the company's past performance and the deal dynamics.</li>
</ul>


Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. It undertakes mining of lithium ore and manufacturing of lithium concentrate, lithium compounds and derivatives.
TL was the largest producer of mined lithium globally in terms of output and ranked third in terms of revenue generated from lithium in 2020, according to Wood Mackenzie .
In this note, we look at the company's past performance and the deal dynamics.


Tianqi Lithium A/H Listing - Back once Again, This Time with a More Compelling Industry Backdrop

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<ul>
<li>The EV market offers bright long term prospects supported by technological progress and government incentives, particularly in China.</li>
<li>In the short term, surging raw material costs and supply bottlenecks are significant risks and could take longer to resolve than many suspect.</li>
<li>We believe the high-end performance segment and low-end mini/city vehicle segments are most suitable for rapid EV penetration.</li>
</ul>


The EV market offers bright long term prospects supported by technological progress and government incentives, particularly in China.
In the short term, surging raw material costs and supply bottlenecks are significant risks and could take longer to resolve than many suspect.
We believe the high-end performance segment and low-end mini/city vehicle segments are most suitable for rapid EV penetration.


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>In Depth: Chinese consumer startups find taking on global titans is no easy task</li><li>Shanghai’s top prosecutor investigated for graft</li><li>Hong Kong money man Calvin Choi faces two-year industry ban for misconduct</li></ul>

In Depth: Chinese consumer startups find taking on global titans is no easy taskShanghai’s top prosecutor investigated for graftHong Kong money man Calvin Choi faces two-year industry ban for misconduct

CX Daily: Chinese Consumer Startups Find Taking On Global Titans Is No Easy Task

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

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Li Auto (LI US)

Tianqi Lithium A/H Listing - PHIP Updates and a Closer Look at Valuations

Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. In this note, we look at A/H valuations.

Sumeet Singh

Sona Comstar Lock-Up - Blackstone up 17x, Sold Half in the IPO with over US$1bn Left

Sona Comstar (Sona) raised around US$761m in its Indian IPO in Jun 2021. The shares are trading well above the IPO price. Blackstone still owns...

Sumeet Singh

Tianqi Lithium A/H Listing - Back once Again, This Time with a More Compelling Industry Backdrop

Tianqi Lithium (TL) is looking to raise up to US$1.5bn via its H-shares listing. In this note, we look at the company's past performance and talk...

Sumeet Singh

China’s Evolving EV Industry

With attractive long term prospects but a short term clouded by raw material prices investors should focus on a barbell approach to EVs examining...

Mio Kato

CX Daily: Chinese Consumer Startups Find Taking On Global Titans Is No Easy Task

In Depth: Chinese consumer startups find taking on global titans is no easy task. Shanghai’s top prosecutor investigated for graft

Caixin Global

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