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 ASX Stocks as of Aug 22nd (reported today). The aggregated short interest was USD25.6bn.</li>
<li>We tabulate league tables 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 Bluescope Steel, CSL, Wesfarmers, Northern Star Resources, Lottery.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 22nd (reported today). The aggregated short interest was USD25.6bn.
We tabulate league tables 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 Bluescope Steel, CSL, Wesfarmers, Northern Star Resources, Lottery.


ASX Short Interest Weekly (Aug 22nd): Bluescope Steel, CSL, Wesfarmers, Northern Star Resources

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 15th (reported today). The aggregated short interest was USD26.2bn.</li>
<li>We tabulate league tables 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 Liontown Resources, CAR, ANZ, Light &amp; Wonder, Premier Investments.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 15th (reported today). The aggregated short interest was USD26.2bn.
We tabulate league tables 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 Liontown Resources, CAR, ANZ, Light &amp; Wonder, Premier Investments.


ASX Short Interest Weekly (Aug 15th): Liontown Resources, CAR, ANZ, Light & Wonder

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

Commonwealth Bank of Australia / Equity Derivatives

<ul>
<li>
Context: <a href="https://www.smartkarma.com/entities/commonwealth-bank-of-australia" target="_blank" data-smartkarma-citation="entities:14:1" rel="noopener">Commonwealth Bank of Australia (CBA AU)</a>’s FY 2025 results delivered record profits but missed analyst expectations, prompting a sharp share price adjustment.</li>
<li>
Insights: Detailed review of intraday price action and implied volatility behavior following the announcement shows how the market digested the results and how implied volatility established a new equilibrium.</li>
<li>
Why Read: Offers a concise, data-driven view of how Australia’s largest bank’s results influenced market dynamics. Gain practical perspective on intraday trading patterns and where implied volatility might be heading</li>
</ul>



Context: Commonwealth Bank of Australia (CBA AU)’s FY 2025 results delivered record profits but missed analyst expectations, prompting a sharp share price adjustment.

Insights: Detailed review of intraday price action and implied volatility behavior following the announcement shows how the market digested the results and how implied volatility established a new equilibrium.

Why Read: Offers a concise, data-driven view of how Australia’s largest bank’s results influenced market dynamics. Gain practical perspective on intraday trading patterns and where implied volatility might be heading


CBA (CBA AU): FY 2025 Results Drive Sharp Intraday Moves - Insights for Options Traders

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back in January 2023, point-of-sale payments play <a href="https://www.smartkarma.com/entities/tyro-payments-ltd" target="_blank" data-smartkarma-citation="entities:28393:1" rel="noopener">Tyro (TYR AU)</a> provided Potentia with due diligence to "enable Potentia to develop a significantly improved proposal". Potentia walked away from talks in May.</li>
<li>Then crickets. Yesterday (12th August), Tyro's shares gained 10.6%.  After announcing this morning it has received unsolicited NBIOs, shares gained a further 8.6% (as I type), touching a 17-month high. </li>
<li>At A$1.17/share, Tyro is ~27% adrift of Potentia's last confirmed indicative Offer.</li>
</ul>


Back in January 2023, point-of-sale payments play Tyro (TYR AU) provided Potentia with due diligence to "enable Potentia to develop a significantly improved proposal". Potentia walked away from talks in May.
Then crickets. Yesterday (12th August), Tyro's shares gained 10.6%.  After announcing this morning it has received unsolicited NBIOs, shares gained a further 8.6% (as I type), touching a 17-month high. 
At A$1.17/share, Tyro is ~27% adrift of Potentia's last confirmed indicative Offer.


Tyro Payment (TYR AU) Fielding Offers. Again.

<ul>
<li>The Reserve Bank of Australia (RBA) meets on Tuesday, 12 August 2025, with a rate decision due at 14:30h AEST. 
</li>
<li>
Highlight: Markets are divided between a 0.25% and 0.50% rate cut. Discover my unique take, which differs from both expectations, and the reasoning behind it.</li>
<li>
Why Read: Fixed income and equity derivatives markets are sending conflicting signals. Dive into the historical market impact of each possible scenario to better navigate the uncertainty. </li>
</ul>


The Reserve Bank of Australia (RBA) meets on Tuesday, 12 August 2025, with a rate decision due at 14:30h AEST. 


Highlight: Markets are divided between a 0.25% and 0.50% rate cut. Discover my unique take, which differs from both expectations, and the reasoning behind it.

Why Read: Fixed income and equity derivatives markets are sending conflicting signals. Dive into the historical market impact of each possible scenario to better navigate the uncertainty. 


S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut

Australia

Westpac Banking Corporation offers general and savings banking services.  The Company provides investment portfolio management and advice, insurance services,  consumer finance, and money market services among other services.  Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

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Westpac Banking Corp Sp Adr (WBK US)

ASX Short Interest Weekly (Aug 22nd): Bluescope Steel, CSL, Wesfarmers, Northern Star Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in Bluescope Steel, CSL, Wesfarmers, Northern Star...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Aug 15th): Liontown Resources, CAR, ANZ, Light & Wonder

We analyzed ASX short interest report for the past week and highlight short interest changes in Liontown Resources, CAR, ANZ, Light & Wonder,...

Ke Yan, CFA, FRM

CBA (CBA AU): FY 2025 Results Drive Sharp Intraday Moves - Insights for Options Traders

CBA’s record profits fall short of expectations, triggering a sharp price drop. Insights into intraday implied volatility action and outlook for...

Gaudenz Schneider

Tyro Payment (TYR AU) Fielding Offers. Again.

Tyro is arguably for sale. Talks remain indicative and non-binding. And may (again) come to naught. Not something I would chase. Not after the...

David Blennerhassett

S&P/ASX 200 (AS51 Index) Ahead of 12 Aug RBA Decision: Markets Divided, but I Vote for a 35bps Cut

RBA to announce rate decision on 12 Aug, as markets split between 0.25% and 0.50% cuts. Explore potential impact and a unique perspective.

Gaudenz Schneider

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