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

Hainan Drinda Automotive Trim / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hainan-drinda-automotive-trim" target="_blank" data-smartkarma-citation="entities:29412:1" rel="noopener">Hainan Drinda Automotive Trim (002865 CH)</a> (HDNET) raised around US$180m via its A/H listing.</li>
<li>HDNET is a specialized manufacturer of PV cells which are used in making PV modules.</li>
<li>We have looked at the company’s past performance and other deal dynamics, in our earlier notes. In this note, we talk about the trading dynamics.</li>
</ul>



Hainan Drinda Automotive Trim (002865 CH) (HDNET) raised around US$180m via its A/H listing.
HDNET is a specialized manufacturer of PV cells which are used in making PV modules.
We have looked at the company’s past performance and other deal dynamics, in our earlier notes. In this note, we talk about the trading dynamics.


Hainan Drinda New Energy (A/H IPO) Trading - Tepid Demand, No Over-Allotment

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> raised around US$1.35bn in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Swiggy is a business to commerce marketplace company offering users a platform for ordering grocery and household items and food delivery, through its on-demand delivery network</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Swiggy (SWIGGY IN) raised around US$1.35bn in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.
Swiggy is a business to commerce marketplace company offering users a platform for ordering grocery and household items and food delivery, through its on-demand delivery network
In this note, we will talk about the lockup dynamics and possible placement.


Swiggy IPO Lockup - US$7.9bn Lockup Release

Contemporary Amperex Technology (CATL) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology (CATL) (300750 CH)</a>, one of the world’s largest battery solutions providers, aims to raise around US$5bn in its H-share listing.</li>
<li>CATL is the global leader in new energy vehicle battery solutions, in China and globally, as per SNE Research. Its A-shares have been listed since 2018.</li>
<li>We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about its recent updates and provide updated thoughts on valuations.</li>
</ul>



Contemporary Amperex Technology (CATL) (300750 CH), one of the world’s largest battery solutions providers, aims to raise around US$5bn in its H-share listing.
CATL is the global leader in new energy vehicle battery solutions, in China and globally, as per SNE Research. Its A-shares have been listed since 2018.
We have looked at the company’s past performance and valuations in our earlier notes. In this note, we talk about its recent updates and provide updated thoughts on valuations.


CATL A/H Listing - PHIP Updates and Updated Thoughts on A/H Premium

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Regime change comes to Asia, making sector selection key to performance</li>
<li>Some key recession watch indicators  continue to ring alarm bells</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Regime change comes to Asia, making sector selection key to performance
Some key recession watch indicators  continue to ring alarm bells


Overview #25 Implications of Stronger Asian Currencies

Jiangsu Hengrui Medicine / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a> (JHP), a China-based pharmaceutical company, aims to raise around US$2bn in its H-share listing.</li>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-hengrui-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:44224:1" rel="noopener">JHP</a>  has been ranked as one of the global Top 50 pharmaceutical companies by Pharm Exec for six consecutive years since 2019.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and provide our thoughts on the possible A/H premium.</li>
</ul>



Jiangsu Hengrui Medicine (600276 CH) (JHP), a China-based pharmaceutical company, aims to raise around US$2bn in its H-share listing.

JHP  has been ranked as one of the global Top 50 pharmaceutical companies by Pharm Exec for six consecutive years since 2019.
We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and provide our thoughts on the possible A/H premium.


Jiangsu Hengrui Pharma A/H Listing - Recent Updates and Thoughts on A/H Premium

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent (700 HK)

Hainan Drinda New Energy (A/H IPO) Trading - Tepid Demand, No Over-Allotment

Hainan Drinda Automotive Trim (002865 CH) (HDNET) raised around US$180m via its A/H listing. In this note, we talk about the trading dynamics.

Sumeet Singh

Swiggy IPO Lockup - US$7.9bn Lockup Release

Swiggy (SWIGGY IN) raised around US$1.35bn in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.

Sumeet Singh

CATL A/H Listing - PHIP Updates and Updated Thoughts on A/H Premium

Contemporary Amperex Technology (CATL) (300750 CH), one of the world’s largest battery solutions providers, aims to raise around US$5bn in its H...

Sumeet Singh

Overview #25 Implications of Stronger Asian Currencies

A review of recent events/data impacting our investment themes and outlook. Implications of Asian currency strength in sector selection

Rikki Malik

Jiangsu Hengrui Pharma A/H Listing - Recent Updates and Thoughts on A/H Premium

The company has now filed its PHIP and is said to be pre-marketing with an aim to launch the deal in the coming week. Although it would have to...

Sumeet Singh

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