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>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
In this note, we will talk about the lockup dynamics and possible placement.


Guzman IPO Lockup - Last of the Lockups for a US$750m+ Release

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

Commonwealth Bank of Australia / Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlight: Currently seven pair trade opportunities across two markets and two sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlight: Currently seven pair trade opportunities across two markets and two sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (18 Aug)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/macquarie-group-ltd" target="_blank" data-smartkarma-citation="entities:310:1" rel="noopener">Macquarie (MQG AU)</a> vs. <a href="https://www.smartkarma.com/entities/anz-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:40898:1" rel="noopener">ANZ (ANZ AU)</a> price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.</li>
<li>
Highlights: Going long Macquarie (MQG AU) and short ANZ (ANZ AU) targets a 5% return to the statistical mean reversion level.</li>
<li>
Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.</li>
</ul>



Context: The Macquarie (MQG AU) vs. ANZ (ANZ AU) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Macquarie (MQG AU) and short ANZ (ANZ AU) targets a 5% return to the statistical mean reversion level.

Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.


Macquarie (MQG AU) Vs. ANZ (ANZ AU): Statistical Arbitrage in Aussie Bank Pair

Equity Derivatives

Commonwealth Bank of Australia / Equity Derivatives

<ul>
<li>
Context: <a href="https://www.smartkarma.com/entities/commonwealth-bank-of-australia" target="_blank" data-smartkarma-citation="entities:14:1" rel="noopener">Commonwealth Bank of Australia (CBA AU)</a>’s FY 2025 results delivered record profits but missed analyst expectations, prompting a sharp share price adjustment.</li>
<li>
Insights: Detailed review of intraday price action and implied volatility behavior following the announcement shows how the market digested the results and how implied volatility established a new equilibrium.</li>
<li>
Why Read: Offers a concise, data-driven view of how Australia’s largest bank’s results influenced market dynamics. Gain practical perspective on intraday trading patterns and where implied volatility might be heading</li>
</ul>



Context: Commonwealth Bank of Australia (CBA AU)’s FY 2025 results delivered record profits but missed analyst expectations, prompting a sharp share price adjustment.

Insights: Detailed review of intraday price action and implied volatility behavior following the announcement shows how the market digested the results and how implied volatility established a new equilibrium.

Why Read: Offers a concise, data-driven view of how Australia’s largest bank’s results influenced market dynamics. Gain practical perspective on intraday trading patterns and where implied volatility might be heading


CBA (CBA AU): FY 2025 Results Drive Sharp Intraday Moves - Insights for Options Traders

Event-Driven

<ul>
<li>The Reserve Bank of Australia (RBA) meets on Tuesday, 12 August 2025, with a rate decision due at 14:30h AEST. 
</li>
<li>
Highlight: Markets are divided between a 0.25% and 0.50% rate cut. Discover my unique take, which differs from both expectations, and the reasoning behind it.</li>
<li>
Why Read: Fixed income and equity derivatives markets are sending conflicting signals. Dive into the historical market impact of each possible scenario to better navigate the uncertainty. </li>
</ul>


The Reserve Bank of Australia (RBA) meets on Tuesday, 12 August 2025, with a rate decision due at 14:30h AEST. 


Highlight: Markets are divided between a 0.25% and 0.50% rate cut. Discover my unique take, which differs from both expectations, and the reasoning behind it.

Why Read: Fixed income and equity derivatives markets are sending conflicting signals. Dive into the historical market impact of each possible scenario to better navigate the uncertainty. 


S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut

Australia

Macquarie Group Ltd. offers banking, financial advisory, investment and funds management services.  The Company offers financial advice, cash management, wealth management and private banking, life insurance, securities brokerage, corporate debt financing, real estate funds management, real estate development financing, investment funds management, and foreign exchange services.

Price Gauge
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Macquarie Group (MQG AU)

Guzman IPO Lockup - Last of the Lockups for a US$750m+ Release

Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon. In this note we talk about its...

Sumeet Singh

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (18 Aug)

Statistical methodology identifies seven pair trade opportunities across two markets and two sectors. Update on previously flagged opportunities,...

Gaudenz Schneider

Macquarie (MQG AU) Vs. ANZ (ANZ AU): Statistical Arbitrage in Aussie Bank Pair

A significant two-standard-deviation move in the Macquarie vs. ANZ price ratio highlights a potential mean-reversion trade, with statistical setup,...

Gaudenz Schneider

CBA (CBA AU): FY 2025 Results Drive Sharp Intraday Moves - Insights for Options Traders

CBA’s record profits fall short of expectations, triggering a sharp price drop. Insights into intraday implied volatility action and outlook for...

Gaudenz Schneider

S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut

RBA to announce rate decision on 12 Aug, as markets split between 0.25% and 0.50% cuts. Explore potential impact and a unique perspective.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Guzman IPO Lockup - Last of the Lockups for a US$750m+ Release

Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon. In this note we talk about its...

Sumeet Singh

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (18 Aug)

​Statistical methodology identifies seven pair trade opportunities across two markets and two sectors. Update on previously flagged opportunities,...

Gaudenz Schneider

Macquarie (MQG AU) Vs. ANZ (ANZ AU): Statistical Arbitrage in Aussie Bank Pair

A significant two-standard-deviation move in the Macquarie vs. ANZ price ratio highlights a potential mean-reversion trade, with statistical setup,...

Gaudenz Schneider

CBA (CBA AU): FY 2025 Results Drive Sharp Intraday Moves - Insights for Options Traders

CBA’s record profits fall short of expectations, triggering a sharp price drop. Insights into intraday implied volatility action and outlook for...

Gaudenz Schneider

S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut

RBA to announce rate decision on 12 Aug, as markets split between 0.25% and 0.50% cuts. Explore potential impact and a unique perspective.

Gaudenz Schneider

Statistical methodology identifies seven pair trade opportunities across two markets and two sectors. Update on previously flagged opportunities,...