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

China Resources Beverage / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (CRB HK)</a>  is looking to raise up to US$650m in its Hong Kong IPO. </li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



China Resources Beverage (CRB HK)  is looking to raise up to US$650m in its Hong Kong IPO. 
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


China Resources Beverage IPO - Volatility Makes Pricing a Bit Tricky

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (CRB HK)</a> is looking to raise up to US$1bn in its upcoming Hong Kong IPO.</li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.</li>
<li>In our earlier notes, we talked about the company’s past performance and provided our initial thoughts on valuations. In this note, we will relook at valuations post its PHIP updates.</li>
</ul>



China Resources Beverage (CRB HK) is looking to raise up to US$1bn in its upcoming Hong Kong IPO.
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.
In our earlier notes, we talked about the company’s past performance and provided our initial thoughts on valuations. In this note, we will relook at valuations post its PHIP updates.


China Resources Beverage Pre-IPO - Updated Thoughts on Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage (CRB HK)</a> is looking to raise up to US$1bn in its upcoming Hong Kong IPO. </li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.</li>
<li>In our earlier notes, we talked about the company’s past performance and provided our thoughts on valuations. In this note, we will look at updates from its most recent filings.</li>
</ul>



China Resources Beverage (CRB HK) is looking to raise up to US$1bn in its upcoming Hong Kong IPO. 
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.
In our earlier notes, we talked about the company’s past performance and provided our thoughts on valuations. In this note, we will look at updates from its most recent filings.


China Resources Beverage Pre-IPO - PHIP Updates - Revenue Slowing, Margins Growing

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beverage" target="_blank" data-smartkarma-citation="entities:41984:1" rel="noopener">China Resources Beverage</a> is looking to raise US$1bn in its upcoming Hong Kong IPO.</li>
<li>China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.</li>
<li>In our earlier notes, we talked about the company’s past performance and undertook a peer comparison. In this note, we will look at valuations.</li>
</ul>



China Resources Beverage is looking to raise US$1bn in its upcoming Hong Kong IPO.
China Resources Beverage manufactures and sells packaged drinking water and RTD soft beverages in China.
In our earlier notes, we talked about the company’s past performance and undertook a peer comparison. In this note, we will look at valuations.


China Resources Beverage Pre-IPO - Thoughts on Valuation

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The trade in <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a>'s Tender offer Buyback is to understand what YOU can do in your particular position.</li>
<li>Despite <a href="https://www.smartkarma.com/entities/swire-properties-ltd" target="_blank" data-smartkarma-citation="entities:5775:1" rel="noopener">Swire Properties (1972 HK)</a>'s recent share buyback, <a href="https://www.smartkarma.com/entities/swire-pacific-ltd-cl-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener">Swire Pacific (A) (19 HK)</a> is still preferable on a look-through P/B of 0.34x.</li>
<li>Kirin bumps the Offer for <a href="https://www.smartkarma.com/entities/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl (4921 JP)</a>. Given market gyration, it may represent enough of a switching opportunity to let those who still object in principle to re-allocate elsewhere. </li>
</ul>


The trade in Toyota Motor (7203 JP)'s Tender offer Buyback is to understand what YOU can do in your particular position.
Despite Swire Properties (1972 HK)'s recent share buyback, Swire Pacific (A) (19 HK) is still preferable on a look-through P/B of 0.34x.
Kirin bumps the Offer for Fancl (4921 JP). Given market gyration, it may represent enough of a switching opportunity to let those who still object in principle to re-allocate elsewhere. 


Last Week in Event SPACE: Toyota, Swire, Fancl, Barito Complex, Descente

Japan

Sapporo Holdings Ltd produces and sells alcoholic and non-alcoholic beverages.  The Company's products include beer, wine, brandy, whiskey, imported beer, soft drinks, juice, coffee, and tea.  SAPPORO HOLDINGS also operates real estate businesses.

Price Gauge
52-week Range	0.00 - 0.00
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Sapporo Holdings (2501 JP)

China Resources Beverage IPO - Volatility Makes Pricing a Bit Tricky

China Resources Beverage (CRB HK) is looking to raise up to US$650m in its Hong Kong IPO. In this note we talk about the IPO pricing.

Sumeet Singh

China Resources Beverage Pre-IPO - Updated Thoughts on Valuation

China Resources Beverage (CRB HK) is looking to raise up to US$1bn in its upcoming Hong Kong IPO. In this note, we talk about our updated thoughts...

Sumeet Singh

China Resources Beverage Pre-IPO - PHIP Updates - Revenue Slowing, Margins Growing

China Resources Beverage (CRB HK) is looking to raise up to US$1bn in its upcoming Hong Kong IPO. In this note, we talk about updates from its PHIP...

Sumeet Singh

China Resources Beverage Pre-IPO - Thoughts on Valuation

China Resources Beverage has now filed its PHIP and will begin pre-marketing soon. We will have a look at its latest filing and revise our...

Sumeet Singh

Last Week in Event SPACE: Toyota, Swire, Fancl, Barito Complex, Descente

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)