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

Pavilion Real Estate Investment Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pavilion-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:17395:1" rel="noopener">Pavilion Real Estate Investment Trust (PREIT MK)</a> is looking to raise up to MYR$517m (US$115m) in its primary placement. </li>
<li>The proceeds will be used to partially finance its acquisition of Pavilion Bukit Jalil (PBJ) mall.</li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Pavilion Real Estate Investment Trust (PREIT MK) is looking to raise up to MYR$517m (US$115m) in its primary placement. 
The proceeds will be used to partially finance its acquisition of Pavilion Bukit Jalil (PBJ) mall.
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


Pavilion REIT Placement - Very Well Flagged, Has Been Expected for Some Time

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li>Condo and HDB rents continued rising in Feb22; Rents could rise 8-12% in 2022</li><li>Commercial en bloc sales may not see significant impacts from new strata subdivision rule</li><li>Singapore commercial real estate investment volume recovered in 2021</li></ul>

Condo and HDB rents continued rising in Feb22; Rents could rise 8-12% in 2022Commercial en bloc sales may not see significant impacts from new strata subdivision ruleSingapore commercial real estate investment volume recovered in 2021

ASEAN Builder's Scoop (17Mar22) - Condo/HDB Rents Continued Rising in Feb22

<ul><li>New private home sales fell 58.0% MoM in Dec21; Closing 2021 with 29% YoY increase and 112% average take-up rate</li><li>Proxy advisory Institutional Shareholder Services (ISS) recommends voting against merger of ALLT-EREIT</li><li><a href="https://www.smartkarma.com/entities/doubledragon-properties-corp" target="_blank" data-smartkarma-citation="entities:23011" rel="noopener">Doubledragon Properties (DD PM)</a> completes Phase 4 of warehouse complex (Regina Capital)</li></ul>

New private home sales fell 58.0% MoM in Dec21; Closing 2021 with 29% YoY increase and 112% average take-up rateProxy advisory Institutional Shareholder Services (ISS) recommends voting against merger of ALLT-EREITDoubledragon Properties (DD PM) completes Phase 4 of warehouse complex (Regina Capital)

New Home Sales up 29% YoY in 2021; ISS Voting Against ALLT-EREIT Merger

<ul><li>Mapletree Logistics Trust (MLT) and Mapletree Industrial Trust (MIT) have no plans on merging</li><li>Condo, HDB rents increases more than 10% in 2021; Rents could continue to move up given cooling measures</li><li><a href="https://www.smartkarma.com/entities/banyan-tree-holdings-ltd" target="_blank" data-smartkarma-citation="entities:18141" rel="noopener">Banyan Tree Holdings (BTH SP)</a> Banyan Tree Group (BTH SP) launches new hospitality concept in Phuket, Thailand</li></ul>

Mapletree Logistics Trust (MLT) and Mapletree Industrial Trust (MIT) have no plans on mergingCondo, HDB rents increases more than 10% in 2021; Rents could continue to move up given cooling measuresBanyan Tree Holdings (BTH SP) Banyan Tree Group (BTH SP) launches new hospitality concept in Phuket, Thailand

ASEAN Builder's Scoop (13Jan22) - No Merger for MLT/MINT

<ul><li><a href="https://www.smartkarma.com/entities/frasers-property-ltd" target="_blank" data-smartkarma-citation="entities:1670" rel="noopener">Frasers Property Ltd (FPL SP)</a> providing bridging loan for land investments in China to a JV partner</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> raked in RMB5.075bn pre-sales with 100% sellout at Yanlord Arcadia Shanghai  </li><li>Cuscaden Peak to cover S$34m break fee if <a href="https://www.smartkarma.com/entities/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952" rel="noopener">Singapore Press Holdings (SPH SP)</a> shareholders vote down <a href="https://www.smartkarma.com/entities/keppel-corp-ltd" target="_blank" data-smartkarma-citation="entities:12" rel="noopener">Keppel Corp (KEP SP)</a> offer</li></ul>

Frasers Property Ltd (FPL SP) providing bridging loan for land investments in China to a JV partnerYanlord Land (YLLG SP) raked in RMB5.075bn pre-sales with 100% sellout at Yanlord Arcadia Shanghai  Cuscaden Peak to cover S$34m break fee if Singapore Press Holdings (SPH SP) shareholders vote down Keppel Corp (KEP SP) offer

ASEAN Builder's Scoop (26Nov21) - FPL Provides Loan to China JV Partner

Malaysia

Sunway Bhd. is a property development and construction company. The Company's other business divisions include quarrying and building materials trading and manufacturing, hospitality, leisure, and healthcare.

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Sunway Bhd (SWB MK)

Pavilion REIT Placement - Very Well Flagged, Has Been Expected for Some Time

Pavilion Real Estate Investment Trust (PREIT MK) is looking to raise up to MYR$517m (US$115m) in its primary placement. The proceeds will be used...

Ethan Aw

ASEAN Builder's Scoop (17Mar22) - Condo/HDB Rents Continued Rising in Feb22

Min impact for commercial enbloc sales from new ruling; Phils remittances sustain growth in Jan22; SWB secures Surety Bond facility from Berkshire

SCCM Asia Research

New Home Sales up 29% YoY in 2021; ISS Voting Against ALLT-EREIT Merger

New home sales up 29% YoY in 2021; ISS voting against ALLT-EREIT merger; DD completes phase 4 warehouse complex; Indo new property tax breaks; SWB...

SCCM Asia Research

ASEAN Builder's Scoop (13Jan22) - No Merger for MLT/MINT

No merger for MLT/MINT; Condo, HDB rents may continue rising; BTH launching new concept in Phuket; METRO/Daiwa House deepens collaboration; SIRI...

SCCM Asia Research

ASEAN Builder's Scoop (26Nov21) - FPL Provides Loan to China JV Partner

FPL provides loan to China JV partner; YLLG 100% take-up in Shanghai project; Phils Cebu office vacancy to expand; ALLHC seals deal with Newbie...

SCCM Asia Research

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