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

Viomi Pre-IPO - A Small Cog in Xiaomi's Big Wheel

Viomi IPO - Optimistic Valuations Even After Factoring in High Growth

Huami Technology IPO First-Take: A Maturing Hardware Company

Xiaomi Post-IPO Review - As Good as It Gets; Don't Count on Stabilization

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

Viomi Technology Co Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27432" target="_blank" data-smartkarma-citation="entities:27432:1">Viomi Technology Co Ltd (VIOT US)</a> raised US$103m after pricing its IPO at US$9/ADR, at the low-end of its range. I covered most aspects of the deal in my earlier two insights: <a href="https://www.smartkarma.com/insights/viomi-pre-ipo-a-small-cog-in-xiaomi-s-big-wheel" target="_blank">Viomi Pre-IPO - A Small Cog in Xiaomi’s Big Wheel</a> and <a href="https://www.smartkarma.com/insights/viomi-ipo-optimistic-valuations-even-after-factoring-in-high-growth" target="_blank">Viomi IPO - Optimistic Valuations Even After Factoring in High Growth</a>.The company failed to make much of a splash even on day-one of its listing, unlike some of the other recent China-domiciled US IPOs. Its performance so far over the first three days is already the worst among the recent listings. Even its existing shareholders who had indicated interest in buying over 1m ADRs seems to have had a change of heart and the allocation has been relegated to a footnote in the updated prospectus from the front page of the earlier version.In this insight, I'll comment on the deal dynamics, implied valuations and include a valuation matrix for implied p/e at different ADR price levels.

Viomi Technology Co Ltd (VIOT US) raised US$103m after pricing its IPO at US$9/ADR, at the low-end of its range. I covered most aspects of the deal in my earlier two insights: Viomi Pre-IPO - A Small Cog in Xiaomi’s Big Wheel and Viomi IPO - Optimistic Valuations Even After Factoring in High Growth.The company failed to make much of a splash even on day-one of its listing, unlike some of the other recent China-domiciled US IPOs. Its performance so far over the first three days is already the worst among the recent listings. Even its existing shareholders who had indicated interest in buying over 1m ADRs seems to have had a change of heart and the allocation has been relegated to a footnote in the updated prospectus from the front page of the earlier version.In this insight, I'll comment on the deal dynamics, implied valuations and include a valuation matrix for implied p/e at different ADR price levels.

Viomi IPO Trading Update - Still Some Way to Go, Even Xiaomi Seems to Have Scaled-Back Its Demand