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><strong>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. </strong></li>
<li>Hong Kong ECM took yet another hit with China Tourism Group deciding to delay its H-Share listing citing poor market condition</li>
<li>On 2nd Dec 2021, SEC issued the final amendments for implementation of HFCAA which will China ADRs going forward. </li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. 
Hong Kong ECM took yet another hit with China Tourism Group deciding to delay its H-Share listing citing poor market condition
On 2nd Dec 2021, SEC issued the final amendments for implementation of HFCAA which will China ADRs going forward. 


ECM Weekly (5th December 2021) - Weibo, Asymchem, Grab, Yonghe, Gushengtang, Siam Makro, SF Intra

Cisarua Mountain Dairy / Equity Capital Markets

<ul>
<li>PT Cisarua Mountain Dairy (CMD), a producer of dairy and consumer foods, raised around US$260m in its Indonesian IPO.</li>
<li>It is a market leader in the overall yogurt sub-category as well as in the spoonable and drinking yogurt segments with a market share of 53.2%, 71.9% and 50.3%, respectively. </li>
<li>In this note, we will talk about the trading dynamics and valuation.</li>
</ul>


PT Cisarua Mountain Dairy (CMD), a producer of dairy and consumer foods, raised around US$260m in its Indonesian IPO.
It is a market leader in the overall yogurt sub-category as well as in the spoonable and drinking yogurt segments with a market share of 53.2%, 71.9% and 50.3%, respectively. 
In this note, we will talk about the trading dynamics and valuation.


Cisarua Mountain Dairy  (Cimory) IPO Trading - Appears to Be Nearly Fully Priced

Weilong Delicious / Equity Capital Markets

<ul>
<li><strong>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. </strong></li>
<li>India IPO will likely take a breather after <a href="https://www.smartkarma.com/entities/one-97-communications-limited-paytm" target="_blank" data-smartkarma-citation="entities:26149:1" rel="noopener">Paytm (PAYTM IN)</a> disastrous debut.</li>
<li>Hong Kong will be Hong Kong will be where most of the attention will be after getting a wave of approvals in this week. Stay tuned to our coverage.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs. 
India IPO will likely take a breather after Paytm (PAYTM IN) disastrous debut.
Hong Kong will be Hong Kong will be where most of the attention will be after getting a wave of approvals in this week. Stay tuned to our coverage.


ECM Weekly (21st Nov 2021) - Weilong, Cloud Village, SF Intra, China Tourism, Asymchem, Gushengtang

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pt-avia-avian" target="_blank" data-smartkarma-citation="entities:35034:1" rel="noopener">PT Avia Avian (AVIA IJ)</a> will raise up to $405 million at an IPO range of IDR780-930. Selling shareholders will also raise up to $364 million through a private placement. </li>
<li>In <a href="https://www.smartkarma.com/insights/avia-avian-ipo-initiation-painting-by-numbers" target="_blank" data-smartkarma-citation="insights:61202" rel="noopener">Avia Avian IPO Initiation: Painting by Numbers</a>, we noted that Avia is delivering strong growth, rising margins and strong cash generation. We concluded that Avia is worth a look.</li>
<li>Our valuation analysis suggests that Avia is fully priced at the IPO price range. Consequently, we would remain on the sidelines seeking a lower entry point. </li>
</ul>



PT Avia Avian (AVIA IJ) will raise up to $405 million at an IPO range of IDR780-930. Selling shareholders will also raise up to $364 million through a private placement. 
In Avia Avian IPO Initiation: Painting by Numbers, we noted that Avia is delivering strong growth, rising margins and strong cash generation. We concluded that Avia is worth a look.
Our valuation analysis suggests that Avia is fully priced at the IPO price range. Consequently, we would remain on the sidelines seeking a lower entry point. 


<ul>
<li>
<a href="https://www.smartkarma.com/entities/pt-avia-avian" target="_blank" data-smartkarma-citation="entities:35034:1" rel="noopener">PT Avia Avian (AVIA IJ)</a> is a market leader in the decorative paints and coatings industry in Indonesia, with around a 20% market share based on sales revenue in 2020. </li>
<li>Avia is seeking to raise up to $405 million at an IPO price range of IDR780-930. Selling shareholders will also raise up to $364 million through a private placement.</li>
<li>The fundamentals are attractive as Avia is delivering strong growth in both its segments, rising group margins and strong cash generation. Overall, we believe that Avia is worth a look.</li>
</ul>



PT Avia Avian (AVIA IJ) is a market leader in the decorative paints and coatings industry in Indonesia, with around a 20% market share based on sales revenue in 2020. 
Avia is seeking to raise up to $405 million at an IPO price range of IDR780-930. Selling shareholders will also raise up to $364 million through a private placement.
The fundamentals are attractive as Avia is delivering strong growth in both its segments, rising group margins and strong cash generation. Overall, we believe that Avia is worth a look.


Avia Avian IPO Initiation: Painting by Numbers

Indonesia

PT Avia Avian Tbk manufactures and distributes paints and building materials in Indonesia, operating in Architectural Solutions and Trading Goods segments. The company offers a wide range of products including wall, wood, and metal paints, waterproofing solutions, instant cement, and adhesives. It was founded in 1978 and is headquartered in Sidoarjo, Indonesia.

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Avia Avian (AVIA IJ)

ECM Weekly (5th December 2021) - Weibo, Asymchem, Grab, Yonghe, Gushengtang, Siam Makro, SF Intra

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Cisarua Mountain Dairy (Cimory) IPO Trading - Appears to Be Nearly Fully Priced

PT Cisarua Mountain Dairy (CMD), a producer of dairy and consumer foods, raised around US$260m in its Indonesian IPO. In this we will talk about...

Sumeet Singh

ECM Weekly (21st Nov 2021) - Weilong, Cloud Village, SF Intra, China Tourism, Asymchem, Gushengtang

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Avia Avian IPO: Valuation Insights

Our valuation analysis suggests that Avia is fully priced at the IPO price range. Consequently, we would remain on the sidelines seeking a lower...

Arun George

Avia Avian IPO Initiation: Painting by Numbers

Avia is seeking to raise up to $405 million at an IPO price range of IDR780-930. Avia is delivering robust growth, rising group margins and strong...

Arun George

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52-week Range

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