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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank</a> raised around US$4.9bn via selling some of its stake in <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a>’ US IPO. Its remaining 90% stake will be released from its IPO linked lockup soon.</li>
<li>ARM develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Softbank raised around US$4.9bn via selling some of its stake in ARM Holdings (ARM US)’ US IPO. Its remaining 90% stake will be released from its IPO linked lockup soon.
ARM develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


ARM Holdings IPO Lock-Up Expiry - A US$127bn Lockup Release Might Be Too Tempting to Pass On

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Macroeconomics

<ul>
<li>Some recent US data has been stronger than expected especially on the inflation front.</li>
<li>Japanese domestic economy confirmed to be  in recession as we expected</li>
<li>Both markets remain buoyant – the question is for how long?</li>
</ul>


Some recent US data has been stronger than expected especially on the inflation front.
Japanese domestic economy confirmed to be  in recession as we expected
Both markets remain buoyant – the question is for how long?


Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>China’s cloud software vendors are feeling the brunt of the sharpest drop in venture capital (VC) investment in the sector in a decade, with many rushing to cut prices or costs to tide them over.</li><li>The country’s current 13 software as a service (SaaS) unicorns — startups valued at more than $1 billion — raised just 495 million yuan ($69 million) from investors last year, the lowest amount since 2014, according to ITjuzi, a domestic provider of data on tech companies and investments, based on announced deals.</li><li>The amount pales in comparison to the peak of 9.3 billion yuan they raised in 2021, when the Covid pandemic boosted demand for digital services.</li></ul>

China’s cloud software vendors are feeling the brunt of the sharpest drop in venture capital (VC) investment in the sector in a decade, with many rushing to cut prices or costs to tide them over.The country’s current 13 software as a service (SaaS) unicorns — startups valued at more than $1 billion — raised just 495 million yuan ($69 million) from investors last year, the lowest amount since 2014, according to ITjuzi, a domestic provider of data on tech companies and investments, based on announced deals.The amount pales in comparison to the peak of 9.3 billion yuan they raised in 2021, when the Covid pandemic boosted demand for digital services.

China’s Software Service Providers Cut Costs, Prices as Investors Pull Back 

Cross Asset Strategy

<ul><li>Software / China’s software service providers cut costs, prices as investors pull back</li><li>Regulator /: China names new chief of securities watchdog amid stock slump</li><li>Stocks /: CSRC vows to crack down on malicious short selling to stabilize stock market</li></ul>

Software / China’s software service providers cut costs, prices as investors pull backRegulator /: China names new chief of securities watchdog amid stock slumpStocks /: CSRC vows to crack down on malicious short selling to stabilize stock market

CX Daily: China Names New Chief of Securities Watchdog Amid Stock Slump

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding 30%.</li><li>Revenue for the quarter at $8.7 billion, marking an 11% YoY increase, solidifies Salesforce as the third-largest enterprise software company by revenue.</li><li>The company's successes include an 80% growth in deals exceeding $1 million, the introduction of the Data Cloud with 1,000 new customers, and the groundbreaking Einstein GPT Copilots, capturing 17% of the Fortune 100.</li></ul>

In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding 30%.Revenue for the quarter at $8.7 billion, marking an 11% YoY increase, solidifies Salesforce as the third-largest enterprise software company by revenue.The company's successes include an 80% growth in deals exceeding $1 million, the introduction of the Data Cloud with 1,000 new customers, and the groundbreaking Einstein GPT Copilots, capturing 17% of the Fortune 100.

Salesforce Inc.: Can The Acquisition Of Airkit.ai Be A Game Changer? - Major Drivers

United States

salesforce.com, inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use salesforce.com to manage their customer, sales and operational data.

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Salesforce.Com Inc (CRM US)

ARM Holdings IPO Lock-Up Expiry - A US$127bn Lockup Release Might Be Too Tempting to Pass On

Softbank raised around US$4.9bn via selling some of its stake in ARM Holdings (ARM US)’ US IPO. Its remaining 90% stake will be released from its...

Sumeet Singh

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

China’s Software Service Providers Cut Costs, Prices as Investors Pull Back

China’s cloud software vendors are feeling the brunt of the sharpest drop in venture capital (VC) investment in the sector in a decade, with many...

Caixin Global

CX Daily: China Names New Chief of Securities Watchdog Amid Stock Slump

Software / China’s software service providers cut costs, prices as investors pull back China’s cloud software vendors are feeling the brunt of the...

Caixin Global

Salesforce Inc.: Can The Acquisition Of Airkit.ai Be A Game Changer? - Major Drivers

In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ARM Holdings IPO Lock-Up Expiry - A US$127bn Lockup Release Might Be Too Tempting to Pass On

Softbank raised around US$4.9bn via selling some of its stake in ARM Holdings (ARM US)’ US IPO. Its remaining 90% stake will be released from its...

Sumeet Singh

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

​US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

China’s Software Service Providers Cut Costs, Prices as Investors Pull Back

China’s cloud software vendors are feeling the brunt of the sharpest drop in venture capital (VC) investment in the sector in a decade, with many...

Caixin Global

CX Daily: China Names New Chief of Securities Watchdog Amid Stock Slump

Software / China’s software service providers cut costs, prices as investors pull back China’s cloud software vendors are feeling the brunt of the...

Caixin Global

Salesforce Inc.: Can The Acquisition Of Airkit.ai Be A Game Changer? - Major Drivers

In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding...

Baptista Research

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.