Aequitas Research

Hong Jie Seow

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%.

Butong Group IPO Trading: Significant Retail Demand Despite Steep Premium

Independent Insight Provider

IPOs and Placements coverage across Asia Pacific

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

<ul>
<li>Butong Group is looking to raise up to US$100m in its upcoming Hong Kong IPO.</li>
<li>Butong has been able to achieve strong topline momentum of 57% CAGR from FY22 to FY24, whilst expanding its margins. </li>
<li>We have looked at the company's past performance in our previous note. In this note, we talk about valuations.</li>
</ul>


Butong Group is looking to raise up to US$100m in its upcoming Hong Kong IPO.
Butong has been able to achieve strong topline momentum of 57% CAGR from FY22 to FY24, whilst expanding its margins. 
We have looked at the company's past performance in our previous note. In this note, we talk about valuations.


Butong Group IPO: Strong Momentum But Premium Hard To Justify