Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of IPO & Placements for Aequitas Research. At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. 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%. 
Prior to Aequitas. I was heading Content Strategy for Smartkarma, along with covering IPOs & Placement. In an earlier life I have covered ASEAN property and the banking space in India.

Head of Research, IPOs & Placements

Smartkarma

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

Research Reinvented

Equity Capital Markets

Dexerials Corporation aims to raise US$600m in its IPO through a sale of secondary shares.&nbsp;The deal scores a marginal negative score on our framework. We would avoid the deal given: recent revenue growth for the company has remained lackluster, even as smartphone market has continued to grow; while the company has a dominant market share in its two core segments, however, this is not adequately reflected in its growth, which implies pricing power probably remains weak; company seems to be banking on entry into new segments to drive growth, however, its success rate in this largely remains unproven; there remains a high risk of technological obsolescence; moreover, nearest comp trades below the stated forward p/e and only slightly above the adjusted p/e, despite having a 4x bigger market cap.&nbsp;

Dexerials Corporation aims to raise US$600m in its IPO through a sale of secondary shares.&nbsp;The deal scores a marginal negative score on our framework. We would avoid the deal given: recent revenue growth for the company has remained lackluster, even as smartphone market has continued to grow; while the company has a dominant market share in its two core segments, however, this is not adequately reflected in its growth, which implies pricing power probably remains weak; company seems to be banking on entry into new segments to drive growth, however, its success rate in this largely remains unproven; there remains a high risk of technological obsolescence; moreover, nearest comp trades below the stated forward p/e and only slightly above the adjusted p/e, despite having a 4x bigger market cap.&nbsp;

Big fish in a small pond which seems to be drying up. Avoid