Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 13th.We estimate that they had an aggregated short interest worth USD2.1bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in PTT Global Chemical, Bangkok Bank.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 13th.We estimate that they had an aggregated short interest worth USD2.1bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in PTT Global Chemical, Bangkok Bank.


Thailand Short Interest Weekly (Dec 13th): PTT Global Chemical, Bangkok Bank

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 6th.We estimate that they had an aggregated short interest worth USD2.2bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Carabao, Delta Electronics, SCC, SCG Packaging.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 6th.We estimate that they had an aggregated short interest worth USD2.2bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Carabao, Delta Electronics, SCC, SCG Packaging.


Thailand Short Interest Weekly (Dec 6th): Carabao, Delta Electronics, SCC, SCG Packaging

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

Index Rebalance

<ul>
<li>With 3 trading days left in the review period, we forecast 4 changes for the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-50-index" target="_blank" data-smartkarma-citation="entities:31493:1" rel="noopener">Stock Exchange of Thailand SET 50 Index (SET50 INDEX)</a> at the December rebalance.</li>
<li>Passive trackers will need to buy between 1.2-3.6 days of ADV on the inclusions and sell between 0.3-3.1 days of ADV on the deletions.</li>
<li>The forecast adds have continued to outperform the forecast deletes and there could be more movement in stocks with relatively high ADV to trade.</li>
</ul>


With 3 trading days left in the review period, we forecast 4 changes for the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) at the December rebalance.
Passive trackers will need to buy between 1.2-3.6 days of ADV on the inclusions and sell between 0.3-3.1 days of ADV on the deletions.
The forecast adds have continued to outperform the forecast deletes and there could be more movement in stocks with relatively high ADV to trade.


SET50 Index Rebalance Preview: 4 Changes Coming Up in December

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 22nd.We estimate that they had an aggregated short interest worth USD2.3bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Bumrungrad Hospital (BH TB), True (TRUE TB).</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 22nd.We estimate that they had an aggregated short interest worth USD2.3bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Bumrungrad Hospital (BH TB), True (TRUE TB).


Thailand Short Interest Weekly (Nov 22nd): Bumrungrad Hospital, True

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 15th.We estimate that they had an aggregated short interest worth USD2.3bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Bumrungrad Hospital, CP ALL, SCC.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 15th.We estimate that they had an aggregated short interest worth USD2.3bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Bumrungrad Hospital, CP ALL, SCC.


Thailand Short Interest Weekly (Nov 15th): Delta Electronics, Bumrungrad Hospital, CP ALL, SCC

Thailand

Thanachart Capital Public Company Limited provides financial services including consumer, corporate and mortgage financing.  Additionally the Company provides securities underwriting and investment advisory services.  Thanachart Capital also provides insurance services through its subsidiaries.

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Thanachart Capital (TCAP TB)

Thailand Short Interest Weekly (Dec 13th): PTT Global Chemical, Bangkok Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in PTT Global Chemical, Bangkok Bank.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Dec 6th): Carabao, Delta Electronics, SCC, SCG Packaging

We analyzed SET short interest report for the past week and highlighted short interest changes in Carabao, Delta Electronics, SCC, SCG Packaging.

Ke Yan, CFA, FRM

SET50 Index Rebalance Preview: 4 Changes Coming Up in December

There should be 4 changes to the SET50 in Dec. Passive trackers will need to trade between 0.3-3.6x ADV on the changes. The adds have outperformed...

Brian Freitas

Thailand Short Interest Weekly (Nov 22nd): Bumrungrad Hospital, True

We analyzed SET short interest report for the past week and highlighted short interest changes in Bumrungrad Hospital, True.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Nov 15th): Delta Electronics, Bumrungrad Hospital, CP ALL, SCC

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Bumrungrad Hospital, CP ALL, SCC.

Ke Yan, CFA, FRM

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