APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC 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

Chifeng Jilong Gold Mining / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chifeng-jilong-gold-mining-co-ltd" target="_blank" data-smartkarma-citation="entities:7782:1" rel="noopener">Chifeng Jilong Gold Mining (600988 CH)</a>, a company owning multiple gold mines across the world, aims to raise around US$500m in its H-share listing. </li>
<li>It is principally engaged in the mining, processing and sales of gold.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Chifeng Jilong Gold Mining (600988 CH), a company owning multiple gold mines across the world, aims to raise around US$500m in its H-share listing. 
It is principally engaged in the mining, processing and sales of gold.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Chifeng Jilong A/H Listing: Riding on the Gold Rush

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into CCB, Alibaba, China Mobile, ICBC, ABC.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into CCB, Alibaba, China Mobile, ICBC, ABC.


Hong Kong Connect Flows (December): $10.7bn Inflows Led by Banks

<ul>
<li>We analyse the changes of A-H premium on 150 stocks over the last week. The average A-H premium was 104.8% as of Nov 15th.</li>
<li>The average A-H premium changed by 6.9ppt week-on-week, led by financials, information technology, consumer discretionary and offset by communication services.</li>
<li>We highlight weekly changes in A-H premium for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.</li>
</ul>


We analyse the changes of A-H premium on 150 stocks over the last week. The average A-H premium was 104.8% as of Nov 15th.
The average A-H premium changed by 6.9ppt week-on-week, led by financials, information technology, consumer discretionary and offset by communication services.
We highlight weekly changes in A-H premium for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.


A-H Premium Weekly (Nov 15th):Chalco, CICC, HUAHONG GROUP, CanSinoBIO

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li><em>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</em></li>
<li>SOUTHBOUND inflow strong but SOEs not leading. Hang Seng down again, A-shares down more. Bank buying minimal. </li>
<li>AH Premia fell 30bp on average. 1% for Liquid names. HK vs A-shares saw an even wider spread (the opposite of last week). SUPER-tight AH premia saw best H outperformance.</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND inflow strong but SOEs not leading. Hang Seng down again, A-shares down more. Bank buying minimal. 
AH Premia fell 30bp on average. 1% for Liquid names. HK vs A-shares saw an even wider spread (the opposite of last week). SUPER-tight AH premia saw best H outperformance.


A/H Premium Tracker (To 26 Jul 2024): SB Bought, NB Sold, HK/China Markets Weak, Spreads Volatile

<ul>
<li>The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>BIG Net SOUTHBOUND inflow continues. Notable in the past four weeks are US$1.9bn of net flow to Energy Hs and US$2.2bn to Banks in the H side of H/A Pairs.</li>
<li>AH Premia lowish in 52-week range, but still high for many pairs. I continue to expect further "convergence" among spreads, and the recent HA Premium bounce has lost momentum.</li>
</ul>


The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
BIG Net SOUTHBOUND inflow continues. Notable in the past four weeks are US$1.9bn of net flow to Energy Hs and US$2.2bn to Banks in the H side of H/A Pairs.
AH Premia lowish in 52-week range, but still high for many pairs. I continue to expect further "convergence" among spreads, and the recent HA Premium bounce has lost momentum.


A/H Premium Tracker (To 21 Jun 2024):  AH Premia Stabilising Lower, Can Move A Leg Lower Still

China

Shandong Gold Mining is a Chinese company primarily engaged in the exploration, mining, processing, and sale of gold and gold products. It also deals with non-ferrous metals like silver, copper, lead, and zinc, and manufactures specialized equipment for gold mines. The company was incorporated in 2000 and is headquartered in Jinan, People's Republic of China.

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Shandong Gold Mining (1787 HK)

Chifeng Jilong A/H Listing: Riding on the Gold Rush

Chifeng Jilong, a company owning multiple gold mines across the world, aims to raise around US$500m in its H-share listing.

Nicholas Tan

Hong Kong Connect Flows (December): $10.7bn Inflows Led by Banks

We analyzed the Hong Kong Connect Scheme for December and highlighted flows for CCB, Alibaba, China Mobile, ICBC, ABC, Meituan, Kuaishou, Wuxi...

Ke Yan, CFA, FRM

A-H Premium Weekly (Nov 15th):Chalco, CICC, HUAHONG GROUP, CanSinoBIO

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Chalco, CICC, HUAHONG GROUP, CanSinoBIO.

Ke Yan, CFA, FRM

A/H Premium Tracker (To 26 Jul 2024): SB Bought, NB Sold, HK/China Markets Weak, Spreads Volatile

Spreads were volatile this past week. The narrowest AH Premia saw significant H outperformance while the wider spreads saw much more muted...

Travis Lundy

A/H Premium Tracker (To 21 Jun 2024): AH Premia Stabilising Lower, Can Move A Leg Lower Still

The Quiddity AH Monitor shows that while AH Premia have spent weeks "bouncing" off multi-year lows, the rebound impetus is slowing. There's room...

Travis Lundy

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