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>Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.</li>
<li>It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.</li>
<li>In this note, we talk about the not so positive aspects of the deal.</li>
</ul>


Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.
In this note, we talk about the not so positive aspects of the deal.


Leapmotor Pre-IPO - The Negatives - Related Party Sanctions, Lags Peers

<ul>
<li>Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.</li>
<li>It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.
In this note, we talk about the positive aspects of the deal.


Leapmotor Pre-IPO - The Positives - Planned Launches Should Prop up Growth

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

Equity Bottom-Up

<ul>
<li>Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. </li>
<li>Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.</li>
<li>Today we are flagging Rivian, Nikola, ChargePoint, Domo &amp; Enviva.</li>
</ul>


Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. 
Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.
Today we are flagging Rivian, Nikola, ChargePoint, Domo &amp; Enviva.


Liquidity Risk Short Candidates: Rivian, Nikola, ChargePoint, Domo & Enviva

Event-Driven

<ul>
<li>Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. </li>
<li>Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.</li>
<li>HashiCorp Inc (HCP), Fluence Energy (FLNC), Rivian Auto (RIVN), Domo Inc (DOMO)</li>
</ul>


Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. 
Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.
HashiCorp Inc (HCP), Fluence Energy (FLNC), Rivian Auto (RIVN), Domo Inc (DOMO)


Liquidity Risk Short Candidates: HashiCorp, Fluence Energy, Rivian Auto, Domo Inc.

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

<ul><li>2021 was the year of EV Stocks, with automakers raising large sums of money without any vehicle deliveries or revenues.</li><li>Swedish EV Maker Polestar is the latest in a long list of EV makers to go public through a SPAC, but there’s more to this deal than first meets the eye</li><li>Polestar is set to make its public debut at a critical juncture in the nascent EV Market where Tesla has captured a lion’s share and the competition is struggling to scale</li></ul>

2021 was the year of EV Stocks, with automakers raising large sums of money without any vehicle deliveries or revenues.Swedish EV Maker Polestar is the latest in a long list of EV makers to go public through a SPAC, but there’s more to this deal than first meets the eyePolestar is set to make its public debut at a critical juncture in the nascent EV Market where Tesla has captured a lion’s share and the competition is struggling to scale

Polestar Is The Dark Horse in the EV Race

United States

Rivian Automotive, Inc. is an automotive technology company. The Company designs and manufactures vans, trucks, and sports utility vehicles, as well as offers software solutions, IT, repair, and maintenance services. Rivian Automotive serves customers in North America and the United Kingdom.

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Rivian Automotive (RIVN US)

Leapmotor Pre-IPO - The Positives - Planned Launches Should Prop up Growth

Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015. In this note, we will...

Sumeet Singh

Liquidity Risk Short Candidates: Rivian, Nikola, ChargePoint, Domo & Enviva

Liquidity risk short candidates may not be economically viable given cash flows and capital requirements. This week we flag Rivian, Nikola,...

Eric Fernandez, CFA

Liquidity Risk Short Candidates: HashiCorp, Fluence Energy, Rivian Auto, Domo Inc.

Liquidity risk shorts can be great short candidates. This week we flag: HashiCorp, Fluence Energy, Rivian Auto, and Domo Inc.

Eric Fernandez, CFA

Polestar Is The Dark Horse in the EV Race

2021 was the year of EV Stocks, with automakers raising large sums of money without any vehicle deliveries or revenues. Swedish EV Maker Polestar...

subSPAC

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Leapmotor Pre-IPO - The Negatives - Related Party Sanctions, Lags Peers

Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015. In this note, we talk...

Sumeet Singh

Leapmotor Pre-IPO - The Positives - Planned Launches Should Prop up Growth

Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015. In this note, we will...

Sumeet Singh

Liquidity Risk Short Candidates: Rivian, Nikola, ChargePoint, Domo & Enviva

Liquidity risk short candidates may not be economically viable given cash flows and capital requirements. This week we flag Rivian, Nikola,...

Eric Fernandez, CFA

Liquidity Risk Short Candidates: HashiCorp, Fluence Energy, Rivian Auto, Domo Inc.

Liquidity risk shorts can be great short candidates. This week we flag: HashiCorp, Fluence Energy, Rivian Auto, and Domo Inc.

Eric Fernandez, CFA

Polestar Is The Dark Horse in the EV Race

2021 was the year of EV Stocks, with automakers raising large sums of money without any vehicle deliveries or revenues. Swedish EV Maker Polestar...

subSPAC