APAC IPOs & Placements, Aequitas Research

Troy Wong

APAC IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>Paradigm REIT (PR) is looking to raise about US$131m in its upcoming Malaysia IPO. The deal will be run by Maybank, AmInvestment Bank, and CGS International.</li>
<li>PR offers stable exposure to well-located retail assets with high occupancy and steady rental growth.</li>
<li>While lease expiry risks and tenant concentration are concerns, current valuation at 17.4x FY25E P/E and 5.7% yield appears fair, given its higher occupancy and lower gearing than peers.</li>
</ul>


Paradigm REIT (PR) is looking to raise about US$131m in its upcoming Malaysia IPO. The deal will be run by Maybank, AmInvestment Bank, and CGS International.
PR offers stable exposure to well-located retail assets with high occupancy and steady rental growth.
While lease expiry risks and tenant concentration are concerns, current valuation at 17.4x FY25E P/E and 5.7% yield appears fair, given its higher occupancy and lower gearing than peers.


Paradigm REIT IPO - Stable Retail Base Facing Near-Term Lease Risks