APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/22926" target="_blank" data-smartkarma-citation="entities:22926:1">Zhou Hei Ya International Holdings (ZHY HK)</a> plans to raise about US$ 300 mn for the development of its processing facilities, logistics and storage centers. Coincidentally its key competitor Jue Wei filed for IPO in China recently. In this insight, we analyze the company along four dimensions:<ol><li>Its standing in the Chinese food industry</li><li>Reasons and risks behind strong growth</li><li>How it has achieved improved efficiency and strong brand</li><li>Valuation comparison with listed peers</li></ol>

Zhou Hei Ya International Holdings (ZHY HK) plans to raise about US$ 300 mn for the development of its processing facilities, logistics and storage centers. Coincidentally its key competitor Jue Wei filed for IPO in China recently. In this insight, we analyze the company along four dimensions:Its standing in the Chinese food industryReasons and risks behind strong growthHow it has achieved improved efficiency and strong brandValuation comparison with listed peers

Zhou Hei Ya Pre-IPO - Leader in Casual Braised Food Industry

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Dali Foods Group / Equity Capital Markets

Dali Foods was listed on Nov 20th, 2015 at IPO price of HK$5.25/share. The stock closed 4% below deal price on its first day of trading and is now trading at HK$4.22/share or 20% below its IPO price.  The lock-up expiry for the Controlling shareholders, pre-IPO investor CDH and cornerstone investors occurred on 19th May 2016.  We examine how the stock has performed since listing and whether investors should expect a placement by shareholders. <h2>Share performance</h2><ul><li>Dali Foods is trading 20% below IPO…</li></ul>

Dali Foods was listed on Nov 20th, 2015 at IPO price of HK$5.25/share. The stock closed 4% below deal price on its first day of trading and is now trading at HK$4.22/share or 20% below its IPO price.  The lock-up expiry for the Controlling shareholders, pre-IPO investor CDH and cornerstone investors occurred on 19th May 2016.  We examine how the stock has performed since listing and whether investors should expect a placement by shareholders. Share performanceDali Foods is trading 20% below IPO…

Dali Foods (3799 HK): Lock-Up Expiry, Follower Discount To Remain

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

Want Want is one of China's earliest established packaged-food manufacturers.Given its strategic focus on consumers between the ages of 3 and 15, the firm has encountered minimal competition during its early stages of development.Want Want’s tremendous success in the kids’ food market has attracted more competition over the past decade.Major dairy and beverage companies, including Mengniu, Yili, and Wahaha, have all launched dairy beverage products specifically aimed at kids.Analyst: Allen Cheng

Want Want is one of China's earliest established packaged-food manufacturers.Given its strategic focus on consumers between the ages of 3 and 15, the firm has encountered minimal competition during its early stages of development.Want Want’s tremendous success in the kids’ food market has attracted more competition over the past decade.Major dairy and beverage companies, including Mengniu, Yili, and Wahaha, have all launched dairy beverage products specifically aimed at kids.Analyst: Allen Cheng

Want Want Will Benefit from the Rise of Consumerism in China.

iShares MSCI Global Min Vol Factor ETF / Equity Bottom-Up

iShares MSCI Global Min Vol Factor ETF (ACWV US)

<ul><li>The Best Ideas list is a compilation of stock ideas sourced from Morningstar&rsquo;s global equity research team.</li><li>With more than 100 analysts covering nearly 1,500 companies, we&rsquo;re able to provide a wide variety of what we believe are attractively priced securities looking across sectors, industries, and geographies.</li><li>Best Ideas are nominated by analysts and approved by managers in addition to the normal due diligence processes that precede our published research and ratings.</li><li>Pan Asian names are particularly focussed this month on the Gaming, Materials, Financials and Consumer Discretionary sectors.&nbsp;</li><li>Analysts: Michael Holt, CFA; Alex Morozov, CFA; Elizabeth Collins, CFA; Lorraine Tan CFA.</li><li>Full report below the fold. In addition subscribers will find in-depth notes and commentary published on several of these names easily available on the platform.</li></ul>

The Best Ideas list is a compilation of stock ideas sourced from Morningstar&rsquo;s global equity research team.With more than 100 analysts covering nearly 1,500 companies, we&rsquo;re able to provide a wide variety of what we believe are attractively priced securities looking across sectors, industries, and geographies.Best Ideas are nominated by analysts and approved by managers in addition to the normal due diligence processes that precede our published research and ratings.Pan Asian names are particularly focussed this month on the Gaming, Materials, Financials and Consumer Discretionary sectors.&nbsp;Analysts: Michael Holt, CFA; Alex Morozov, CFA; Elizabeth Collins, CFA; Lorraine Tan CFA.Full report below the fold. In addition subscribers will find in-depth notes and commentary published on several of these names easily available on the platform.

Hong Kong

Want Want China Holdings Limited is a leading food and beverage company that manufactures and distributes a wide range of products, including rice crackers, dairy products, and various beverages like flavored milk and juices, as well as snack foods. The company primarily serves the Chinese market with exports to other regions. It was founded in 1962 and is headquartered in Kowloon Bay, Hong Kong.

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Want Want China (151 HK)

Zhou Hei Ya Pre-IPO - Leader in Casual Braised Food Industry

Zhou Hei Ya International Holdings (ZHY HK) plans to raise about US$ 300 mn for the development of its processing facilities, logistics and storage...

Zhen Zhou, Toh

Dali Foods (3799 HK): Lock-Up Expiry, Follower Discount To Remain

Dali Foods was listed on Nov 20th, 2015 at IPO price of HK$5.25/share. The stock closed 4% below deal price on its first day of trading and is now...

Ke Yan, CFA, FRM

Want Want Will Benefit from the Rise of Consumerism in China.

Want Want is one of China's earliest established packaged-food manufacturers.Given its strategic focus on consumers between the ages of 3 and 15,...

Morningstar, Inc.

Morningstar: Global Equity Best Ideas

The Best Ideas list is a compilation of stock ideas sourced from Morningstar’s global equity research team. With more than 100 analysts covering...

Morningstar, Inc.

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