APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Skymark Airlines / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/skymark-airlines-inc" target="_blank" data-smartkarma-citation="entities:20430:1" rel="noopener">Skymark Airlines (9204 JP)</a> is looking to raise approximately US$218m in its upcoming Japan IPO.  </li>
<li>Skymark Airlines (SA) is a Japanese low-cost airline, being the third largest domestic airline  according to the company. Unlike major airlines and other low-cost carriers, Skymark operates only domestic flights.</li>
<li>In this note, we talk about the company's past performance.</li>
</ul>



Skymark Airlines (9204 JP) is looking to raise approximately US$218m in its upcoming Japan IPO.  
Skymark Airlines (SA) is a Japanese low-cost airline, being the third largest domestic airline  according to the company. Unlike major airlines and other low-cost carriers, Skymark operates only domestic flights.
In this note, we talk about the company's past performance.


Skymark Airlines Pre-IPO - Highly Leveraged with a History of Bankruptcy

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>DPC Dash aims to raise around US$100m in its Hong Kong IPO. </li>
<li>The company is the exclusive master franchisee for Domino’s Pizza in China, HK and Macau. DPC operated 562 stores across 13 cities, as of Nov 2022.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


DPC Dash aims to raise around US$100m in its Hong Kong IPO. 
The company is the exclusive master franchisee for Domino’s Pizza in China, HK and Macau. DPC operated 562 stores across 13 cities, as of Nov 2022.
In this note, we will talk about the positive aspects of the deal.


DPC Dash Pre-IPO - The Positives - On a Rapid Expansion Spree

<ul>
<li>
<a href="https://www.smartkarma.com/entities/daiei-kankyo-co-ltd" target="_blank" data-smartkarma-citation="entities:36539:1" rel="noopener">Daiei Kankyo (9336 JP)</a> , a waste management company, aims to raise around US$280m in its Japan IPO.</li>
<li>Daiei Kankyo is involved in the waste management and related businesses in Japan. The core of its operations consists of its waste management and recycling business.</li>
<li>In our previous note, we looked at the company’s past performance. In this note, we undertake a peer comparison and talk about valuations.</li>
</ul>



Daiei Kankyo (9336 JP) , a waste management company, aims to raise around US$280m in its Japan IPO.
Daiei Kankyo is involved in the waste management and related businesses in Japan. The core of its operations consists of its waste management and recycling business.
In our previous note, we looked at the company’s past performance. In this note, we undertake a peer comparison and talk about valuations.


Daiei Kankyo Pre-IPO - Peer Comparison and Thoughts on Valuation

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Private Capital Markets

Skymark Airlines / Private Capital Markets

<ul>
<li>While current conditions are likely to be tough for budget airline Skymark it will be a key beneficiary of reopening. </li>
<li>Without significant exposure to international business travel the airline could find favour with investors as a pure play on the reopening theme. </li>
<li>In addition, a weak yen could prove a tailwind for domestic companies looking to boost inbound tourism and Skymark could be a beneficiary here as well.</li>
</ul>


While current conditions are likely to be tough for budget airline Skymark it will be a key beneficiary of reopening. 
Without significant exposure to international business travel the airline could find favour with investors as a pure play on the reopening theme. 
In addition, a weak yen could prove a tailwind for domestic companies looking to boost inbound tourism and Skymark could be a beneficiary here as well.


Japan

Skymark Airlines Inc. provides air transportation services.  The Company's services include scheduled flights for passengers and air courier services. Skymark Airlines conducts businesses in Japan.

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Skymark Airlines (9204 JP)

Skymark Airlines Pre-IPO - Highly Leveraged with a History of Bankruptcy

Skymark Airlines (9204 JP) is looking to raise approximately US$218m in its upcoming Japan IPO. In this note, we talk about the company's past...

Ethan Aw

DPC Dash Pre-IPO - The Positives - On a Rapid Expansion Spree

DPC Dash, master franchisee for Domino's Pizza in China, aims to raise around US$100m in its Hong Kong IPO. In this note, we talk about the...

Sumeet Singh

Daiei Kankyo Pre-IPO - Peer Comparison and Thoughts on Valuation

Daiei Kankyo (9336 JP) , a waste management company, aims to raise around US$280m in its Japan IPO. In this note, we undertake a peer comparison...

Sumeet Singh

Skymark – Pure Play on Budget Tourism

While current conditions are likely to be tough for budget airline Skymark it will be a key beneficiary of reopening and offers a pure play on...

Mio Kato

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