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

Plus Alpha Consulting / Equity Capital Markets

<ul>
<li>Three shareholders of <a href="https://www.smartkarma.com/entities/plus-alpha-consulting-co-ltd" target="_blank" data-smartkarma-citation="entities:33441:1" rel="noopener">Plus Alpha Consulting (4071 JP)</a> (PAC) aim to raise around US$230m via selling over 26% of the company.</li>
<li>PAC was listed in 2021 and after a somewhat tepid initial performance it has been doing well over the past year.</li>
<li>In this note, we talk about the deal dynamics and run the deal through our ECM framework</li>
</ul>


Three shareholders of Plus Alpha Consulting (4071 JP) (PAC) aim to raise around US$230m via selling over 26% of the company.
PAC was listed in 2021 and after a somewhat tepid initial performance it has been doing well over the past year.
In this note, we talk about the deal dynamics and run the deal through our ECM framework


Plus Alpha Consulting Placement - Pulling Out All Stops for Deal Success as Insiders Are Selling

Event-Driven

<ul>
<li>Three shareholders of <a href="https://www.smartkarma.com/entities/socionext-inc" target="_blank" data-smartkarma-citation="entities:36351:1" rel="noopener">Socionext (6526 JP)</a> aim to raise around US$1.4bn via selling all of their shares in Socionext.</li>
<li>We have covered the background of the deal in our earlier note, <a href="https://www.smartkarma.com/insights/socionext-placement-a-us-1-8bn-cleanup-will-have-to-give-up-some-of-its-6x-listing-gains" target="_blank" data-smartkarma-citation="insights:106206" rel="noopener">Socionext Placement - A US$1.8bn Cleanup, Will Have to Give up Some of Its 6x Listing Gains</a>.</li>
<li>In this note, we talk about the updates and look at the performance of some of the past Japan deals.</li>
</ul>


Three shareholders of Socionext (6526 JP) aim to raise around US$1.4bn via selling all of their shares in Socionext.
We have covered the background of the deal in our earlier note, Socionext Placement - A US$1.8bn Cleanup, Will Have to Give up Some of Its 6x Listing Gains.
In this note, we talk about the updates and look at the performance of some of the past Japan deals.


Socionext Placement - Valuation More Reasonable but past Secondary Offerings Have a Mixed Record

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>In the IPO space, <a href="https://www.smartkarma.com/entities/tryt-inc" target="_blank" data-smartkarma-citation="entities:39870:1" rel="noopener">Tryt Inc (9164 JP)</a> announced a somewhat reasonable pricing range, while <a href="https://www.smartkarma.com/entities/fadu-inc" target="_blank" data-smartkarma-citation="entities:39896:1" rel="noopener">Fadu (440110 KS)</a> looks to open up the Korean market for larger IPOs again.</li>
<li>On the placement front,  <a href="https://www.smartkarma.com/entities/socionext-inc" target="_blank" data-smartkarma-citation="entities:36351:1" rel="noopener">Socionext (6526 JP)</a> found itself in the eye of a storm after its stupendous 6x increase since listing.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
In the IPO space, Tryt Inc (9164 JP) announced a somewhat reasonable pricing range, while Fadu (440110 KS) looks to open up the Korean market for larger IPOs again.
On the placement front,  Socionext (6526 JP) found itself in the eye of a storm after its stupendous 6x increase since listing.


ECM Weekly (9th July 2023) - Socionext, Yongtai, Tryt, Redox, S.F. Holding, Lalatech, Fadu, Amman

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<p>Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.</p>In this Insight:<ol><li><a href='/entities/greentown-china-holdings' target='_blank' rel='noopener'>Greentown China</a></li><li><a href='/entities/first-pacific-co-ltd' target='_blank' rel='noopener'>First Pacific Co</a></li><li><a href='/entities/vedanta-resources-ltd' target='_blank' rel='noopener'>Vedanta Resources</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/lifestyle-international-holdings-ltd' target='_blank' rel='noopener'>Lifestyle International Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Greentown ChinaFirst Pacific CoVedanta ResourcesChina Jinmao HoldingsLifestyle International Holdingsand more...

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Strong ADP numbers drive bond and equity sell off; SPX -0.8% as all sectors in the red  as reality of further Fed hikes get real; EV Truce in China</li>
<li>JAPAN. NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen strength won't help - as we head into weekend, correction finally here?</li>
<li>NUGGET. Profit Renaissance for Japan's Defense Industry. From big (MHI, Melco, etc) to Small - expect numerous beneficiaries of the policy changes afoot. </li>
</ul>


OVERSEAS. Strong ADP numbers drive bond and equity sell off; SPX -0.8% as all sectors in the red  as reality of further Fed hikes get real; EV Truce in China
JAPAN. NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen strength won't help - as we head into weekend, correction finally here?
NUGGET. Profit Renaissance for Japan's Defense Industry. From big (MHI, Melco, etc) to Small - expect numerous beneficiaries of the policy changes afoot. 


Ohayo Japan |Rates Rocket-Equities Take Heed; NUGGET: Profit Renaissance for Japan's Defense Sector

Japan

SoftBank Group Corp provides telecommunication services.  The Company also operates ADSL (Asymmetric Digital Subscriber Line) and fiber optic high-speed Internet connection, e-Commerce businesses, and Internet based advertising and auction businesses.

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Softbank Group (ADR) (SFTBY US)

Plus Alpha Consulting Placement - Pulling Out All Stops for Deal Success as Insiders Are Selling

Three shareholders of Plus Alpha Consulting (4071 JP) (PAC) aim to raise around US$230m via selling over 26% of the company.

Sumeet Singh

Socionext Placement - Valuation More Reasonable but past Secondary Offerings Have a Mixed Record

Three shareholders of Socionext (6526 JP) aim to raise around US$1.4bn via selling all of their shares in Socionext. In this note, we look at the...

Sumeet Singh

ECM Weekly (9th July 2023) - Socionext, Yongtai, Tryt, Redox, S.F. Holding, Lalatech, Fadu, Amman

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Weekly Wrap - 07 Jul 2023

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Ohayo Japan |Rates Rocket-Equities Take Heed; NUGGET: Profit Renaissance for Japan's Defense Sector

ADP numbers drive Bond and Equity Sell off; NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen...

Mark Chadwick

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