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>2023 marked our eighth year covering Equity Capital Markets in Asia Pacific. In 2023, IPOs didn’t pick up much from the low base of 2022  while placements showed upward momentum.</li>
<li>We ended 2023 with an accuracy rate of 73.7% across 57 IPOs that we covered and 79.3% across 115 placements.</li>
<li>For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.</li>
</ul>


2023 marked our eighth year covering Equity Capital Markets in Asia Pacific. In 2023, IPOs didn’t pick up much from the low base of 2022  while placements showed upward momentum.
We ended 2023 with an accuracy rate of 73.7% across 57 IPOs that we covered and 79.3% across 115 placements.
For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.


Aequitas 2023 IPOs and Placements Performance Review - IPOs Forming a Low Base, Placements Pick Up

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor</li>
<li>UST yields climbed slightly yesterday, led by the long end, alongside a slight increase in oil prices. The yield on the 2Y UST rose 1 bp to 3.78%, while the yield on the 10Y was up 3 bps at 4.31%. Equities closed at record highs, on optimism that the US and Iran would extend their ceasefire agreement. The S&amp;P 500 and Nasdaq rose 0.3% and 0.4% to 7,041 and 24,103, respectively.</li>
<li>US President Donald Trump announced on Truth Social that the leaders of Israel and Lebanon have agreed to a 10-day ceasefire.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor
UST yields climbed slightly yesterday, led by the long end, alongside a slight increase in oil prices. The yield on the 2Y UST rose 1 bp to 3.78%, while the yield on the 10Y was up 3 bps at 4.31%. Equities closed at record highs, on optimism that the US and Iran would extend their ceasefire agreement. The S&amp;P 500 and Nasdaq rose 0.3% and 0.4% to 7,041 and 24,103, respectively.
US President Donald Trump announced on Truth Social that the leaders of Israel and Lebanon have agreed to a 10-day ceasefire.


Focused on the Climate–Nature Nexus., Carbon Tracker Initiative

Carbon Tracker Initiative

Focused on the Climate–Nature Nexus.

Carbon Tracker and Planet Tracker - part of the Tracker Group - are award-winning, non-profit financial think tanks focused on the climate–nature nexus.

Thematic (Sector/Industry)

<ul>
<li>This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.</li>
<li>Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.</li>
<li>Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.</li>
</ul>


This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.
Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.
Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.


Energy Transition: Oil Companies in Disguise

Equity Long-Short

Mo Aziz

<ul>
<li>Currency drove a third or more of earnings at key Japanese automakers, but the market rewarded headline growth instead of earnings quality.</li>
<li>Nissan and Suzuki improved on largely unaided fundamentals, while Honda and Subaru are priced for more than they delivered.</li>
<li>The quarter was less about who beat expectations than who generated earnings without relying on the weak yen.</li>
</ul>


Currency drove a third or more of earnings at key Japanese automakers, but the market rewarded headline growth instead of earnings quality.
Nissan and Suzuki improved on largely unaided fundamentals, while Honda and Subaru are priced for more than they delivered.
The quarter was less about who beat expectations than who generated earnings without relying on the weak yen.


Japan Autos: The Weak Yen Illusion in Q1 FY2027 — Toyota, Honda, Nissan, Subaru, Mazda, Suzuki

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor</li>
<li>UST yields declined sharply yesterday, following the release of soft labour market data from alternative sources Challenger and Revelio Labs. The UST curve bull steepened, with the yield on the 2Y and 10Y UST falling 8 bps to 3.56% and 4.08%, respectively.</li>
<li>Equities were sold off for the second time in three days, led by declines in AI-related stocks. The S&amp;P 500 retreated 1.1% to 6,720, while the Nasdaq slumped 1.9% to 23,054.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor
UST yields declined sharply yesterday, following the release of soft labour market data from alternative sources Challenger and Revelio Labs. The UST curve bull steepened, with the yield on the 2Y and 10Y UST falling 8 bps to 3.56% and 4.08%, respectively.
Equities were sold off for the second time in three days, led by declines in AI-related stocks. The S&amp;P 500 retreated 1.1% to 6,720, while the Nasdaq slumped 1.9% to 23,054.


Japan

NISSAN MOTOR CO., LTD. manufactures and distributes automobiles and related parts. It also provides financing services. Nissan delivers a comprehensive range of products under various brands. The Company manufactures in Japan, the United States, Mexico, the United Kingdom and many other countries.

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Nissan Motor (7201 JP)

Aequitas 2023 IPOs and Placements Performance Review - IPOs Forming a Low Base, Placements Pick Up

2023 was our eight year of covering Asia ECM. We ended 2023 with an accuracy rate of 73.7% across 57 IPOs that we covered and 79.3% across 115...

Sumeet Singh

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor UST yields climbed slightly...

Lucror Analytics

Energy Transition: Oil Companies in Disguise

This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and...

Carbon Tracker Initiative

Japan Autos: The Weak Yen Illusion in Q1 FY2027 — Toyota, Honda, Nissan, Subaru, Mazda, Suzuki

A weak yen flattered Japanese auto earnings, but the market mispriced the source of the beat. We favour Nissan and Suzuki, fade Honda and Subaru,...

Mo Aziz

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Nissan Motor UST yields declined sharply...

Lucror Analytics

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