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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/reddit-inc" target="_blank" data-smartkarma-citation="entities:40917:1" rel="noopener">Reddit (RDDT US)</a> is looking to raise up to US$750m in its US IPO. </li>
<li>Reddit is an online social media platform where users are able to join communities, engage in conversations, research, exchange goods and services as well as create new communities.  </li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Reddit (RDDT US) is looking to raise up to US$750m in its US IPO. 
Reddit is an online social media platform where users are able to join communities, engage in conversations, research, exchange goods and services as well as create new communities.  
In this note, we talk about the company’s historical performance.


Reddit IPO - Well-Known Brand but Sustainability of Growth Is Questionable

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Reddit, an American social news aggregation, content rating, and forum social network, filed to go public. The company plans to trade on the NYSE under the ticker “RDDT”.</li>
<li>Reddit was founded in 2005 by Steven Huffman, Aaron Swartz and Alexis Ohanian. The company is forecasted to surpass $1B in total revenue in 2024.</li>
<li>They chose the right time to go public. I have a positive view of the upcoming Reddit IPO and looking forward to seeing them trade as a public company.</li>
</ul>


Reddit, an American social news aggregation, content rating, and forum social network, filed to go public. The company plans to trade on the NYSE under the ticker “RDDT”.
Reddit was founded in 2005 by Steven Huffman, Aaron Swartz and Alexis Ohanian. The company is forecasted to surpass $1B in total revenue in 2024.
They chose the right time to go public. I have a positive view of the upcoming Reddit IPO and looking forward to seeing them trade as a public company.


Reddit IPO: The Right Time To Go Public At A Reasonable Valuation

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>Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows concerns over changing customer perspectives and rising uncertainties.</li><li>The company, revealing its Q4 and full-year results, registered sales at $1.2 billion, up 3.5% from last year, with a 2.2% increase in organic sales.</li><li>This is credited to the company's ability to adapt to market disruptions.</li></ul>

Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows concerns over changing customer perspectives and rising uncertainties.The company, revealing its Q4 and full-year results, registered sales at $1.2 billion, up 3.5% from last year, with a 2.2% increase in organic sales.This is credited to the company's ability to adapt to market disruptions.

Snap-on Incorporated: Strategic Product Shifts & 5 Factors Driving Their Performance In 2024! - Financial Forecasts

<ul><li>Snap Inc.</li><li>achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement.</li><li>Monthly active users increased 8% year-over-year, passing the 800 million mark, and daily active users also increased 10% to reach 414 million, which indicates progress towards the company's goal of 1 billion monthly active users.</li></ul>

Snap Inc.achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement.Monthly active users increased 8% year-over-year, passing the 800 million mark, and daily active users also increased 10% to reach 414 million, which indicates progress towards the company's goal of 1 billion monthly active users.

Snap Inc: Can Its Optimization Of Machine Learning (ML) Models for Advertising Change The Game? - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> announced in-specie dividends of <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> (US$15bn+) in 2021 and <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> (US$20bn) in 2022.</li>
<li>With the <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> Board meeting on 15 November to approve Q3 results and considering the payment of a dividend, the pattern could repeat this year.</li>
<li>
<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> owns stakes of US$1bn+ in 10 listed companies. We take a look at the stocks that could be next in line to be paid as in-specie dividends.</li>
</ul>



Tencent (700 HK) announced in-specie dividends of JD.com (9618 HK) (US$15bn+) in 2021 and Meituan (3690 HK) (US$20bn) in 2022.
With the Tencent (700 HK) Board meeting on 15 November to approve Q3 results and considering the payment of a dividend, the pattern could repeat this year.

Tencent (700 HK) owns stakes of US$1bn+ in 10 listed companies. We take a look at the stocks that could be next in line to be paid as in-specie dividends.


Tencent (700 HK): Board Meets Next Week; In-Specie Dividend Candidates

United States

Snap Inc. provides technology and social media services. The Company develops mobile camera application products and services that allow users to send and receive photos, drawings, text, and videos. Snap serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Snap (SNAP US)

Reddit IPO - Well-Known Brand but Sustainability of Growth Is Questionable

Reddit (RDDT US) is looking to raise up to US$750m in its US IPO. In this note, we talk about the company’s historical performance.

Ethan Aw

Reddit IPO: The Right Time To Go Public At A Reasonable Valuation

Reddit, an American iconic internet company, filed to go public. Given their massive TAM, loyal communities and scalable business, Reddit is bound...

Andrei Zakharov

Snap-on Incorporated: Strategic Product Shifts & 5 Factors Driving Their Performance In 2024! - Financial Forecasts

Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows...

Baptista Research

Snap Inc: Can Its Optimization Of Machine Learning (ML) Models for Advertising Change The Game? - Major Drivers

Snap Inc. achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement. Monthly...

Baptista Research

Tencent (700 HK): Board Meets Next Week; In-Specie Dividend Candidates

Tencent could make it a hat-trick of special in-specie dividend distributions. After JD.com and Meituan, Kuaishou could be next. Or it could be...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)