APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (1416286D IJ)</a> is looking to raise up to US$868m in its Indonesian IPO. </li>
<li>Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we undertake a quick peer comparison and share our thoughts on valuation.</li>
</ul>



Amman Mineral Internasional (1416286D IJ) is looking to raise up to US$868m in its Indonesian IPO. 
Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
In our previous notes, we looked at the company’s past performance. In this note, we undertake a quick peer comparison and share our thoughts on valuation.


Amman Mineral International IPO - Peer Comparison & Thoughts on Valuation

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) continue to trend higher and are devoid of bearish inflections. Additionally, the US dollar (DXY) is likely headed lower, something we view as a positive risk-on signal for global equities. As a result, we remain bullish and we continue to recommend adding exposure on pullbacks.</p>

Major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) continue to trend higher and are devoid of bearish inflections. Additionally, the US dollar (DXY) is likely headed lower, something we view as a positive risk-on signal for global equities. As a result, we remain bullish and we continue to recommend adding exposure on pullbacks.

Japan Breaking Out; EM Remains Leadership

Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

Thematic (Sector/Industry)

<h2>Oil Price</h2><p>WTI and Brent prices had another volatile week before ending c.USD 1/bbl lower at USD 57.26/bbl and USD 63.31/bbl, respectively. By mid-week, both benchmarks had dropped c.USD 3/bbl, largely due to fears of continued robust US shale production and the effective cap on long-term oil price expectations. However, most of this loss was recouped by the weekend due to heightened geopolitical risks in the Middle East; strong Chinese crude import data; and threats of a nationwide strike amongst…</p>

Oil PriceWTI and Brent prices had another volatile week before ending c.USD 1/bbl lower at USD 57.26/bbl and USD 63.31/bbl, respectively. By mid-week, both benchmarks had dropped c.USD 3/bbl, largely due to fears of continued robust US shale production and the effective cap on long-term oil price expectations. However, most of this loss was recouped by the weekend due to heightened geopolitical risks in the Middle East; strong Chinese crude import data; and threats of a nationwide strike amongst…

<h2>Oil Price</h2><p>We saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to its highest weekly gain since 2015, to close the week at USD 58.63/bbl. In contrast, Brent prices only moved up modestly to close the week at USD 63.71/bbl, with traders pausing ahead of a likely extension of OPEC quota cuts during their meeting this Thursday (30 Nov). The quota cuts are currently set to expire by March 2018. However, we would argue…</p>

Oil PriceWe saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to its highest weekly gain since 2015, to close the week at USD 58.63/bbl. In contrast, Brent prices only moved up modestly to close the week at USD 63.71/bbl, with traders pausing ahead of a likely extension of OPEC quota cuts during their meeting this Thursday (30 Nov). The quota cuts are currently set to expire by March 2018. However, we would argue…

MSCI Emerging Markets Index / Technical Analysis

<p style="text-align: justify;">In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving averages. Japan, too, exhibits a pullback opportunity, though much shallower in depth (a sign of strength).</p><p style="text-align: justify;">Now pan to emerging markets and you’ll find where leadership is concentrated, where the MSCI EM Index is breaking out to all-time highs, and where its relative strength trend is bottoming versus the U.S. and international markets.</p><p style="text-align: justify;">In short, the technical environment remains bullish, and so does our outlook.</p>

In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving averages. Japan, too, exhibits a pullback opportunity, though much shallower in depth (a sign of strength).Now pan to emerging markets and you’ll find where leadership is concentrated, where the MSCI EM Index is breaking out to all-time highs, and where its relative strength trend is bottoming versus the U.S. and international markets.In short, the technical environment remains bullish, and so does our outlook.

EM Continues to Escort Int'l Markets Higher

Sweden

Lundin Energy AB operates as an exploration and production company. The Company discovers and develops oil and gas resources, with operations focused in Norway.

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Lundin Energy AB (LUNE SS)

Amman Mineral International IPO - Peer Comparison & Thoughts on Valuation

Amman Mineral Internasional (1416286D IJ) is looking to raise up to US$868m in its Indonesian IPO. In this note, we undertake a quick peer...

Ethan Aw

Japan Breaking Out; EM Remains Leadership

Major global indexes continue to trend higher and are devoid of bearish inflections. As a result, we remain bullish and we continue to recommend...

Vermilion Research

Global E&Ps: Energy Weekly Vol. 5

Oil PriceWTI and Brent prices had another volatile week before ending c.USD 1/bbl lower at USD 57.26/bbl and USD 63.31/bbl, respectively. By...

Aaditya Chintalapati, CFA

Global E&Ps: Energy Weekly Vol. 3

Oil PriceWe saw diverging price moves across the oil complex this week. Fear of an extended supply disruption at the Keystone pipeline drove WTI to...

Aaditya Chintalapati, CFA

EM Continues to Escort Int'l Markets Higher

In developed markets, Europe offers textbook pullback opportunities, with indices like the STOXX 600 and DAX (below) testing 200-day moving...

Vermilion Research

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