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

ECM Weekly (19 July 2020) - HK IPO Analytics 1H2020, Shimao Services, AyalaLand REIT, Li Auto

ECM Weekly (26 July 2020) - Li Auto, Ant Financial, Tigermed, Mindspace, Blue Moon

ECM Weekly (2 August 2020) - ByteDance KE Holdings, Tigermed, Jinke Svcs, Li Auto

AREIT Pre-IPO - First Philippines REIT Listing Comes with Its Peculiarities

Trade Ideas SGREITs - Office Vs Retail Vs Industrial, up 16% so Far

Embassy Office Parks REIT Placement - To Big to Swallow if Its Not a Reverse Enquiry

ECM Weekly (4 July 2020) - Smoore, Ocumension, Zhenro Services, Archosaur Games

Shandong Fengxiang IPO - Looks Cheap but Is at Peak Margins

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

Areit (AyalaLand REIT) / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/ayalaland-reit-areit" target="_blank" data-smartkarma-citation="entities:28856:1" rel="noopener">AyalaLand Reit (AREIT) (AREIT PM)</a>, a subsidiary of <a href="https://www.smartkarma.com/entities/ayala-land-inc" target="_blank" data-smartkarma-citation="entities:131:1" rel="noopener">Ayala Land Inc (ALI PM)</a>, aims to raise up to US$270 in its Philippines listing.</p></div><div><p>AREIT will be the first REIT listing for the Philippines. It will have an initial portfolio of three commercial buildings located in Metro Manila, Philippines. In addition, it will use the proceeds from the IPO to buy another asset from the sponsor, taking its total asset count to four. Its assets are relatively new, with long term leases and step-up rental escalation, which should provide stability to rentals. </p></div><div>
<p>I’ve covered the details of the company in my previous note, <a href="https://www.smartkarma.com/insights/areit-pre-ipo-first-philippines-reit-listing-comes-with-its-peculiarities" target="_blank" rel="noopener">AREIT Pre-IPO - First Philippines REIT Listing Comes with Its Peculiarities</a>.</p>
<p>In this note, I’ll run the deal through our ECM framework and talk about valuations.</p>
</div>

AyalaLand Reit (AREIT) (AREIT PM), a subsidiary of Ayala Land Inc (ALI PM), aims to raise up to US$270 in its Philippines listing.AREIT will be the first REIT listing for the Philippines. It will have an initial portfolio of three commercial buildings located in Metro Manila, Philippines. In addition, it will use the proceeds from the IPO to buy another asset from the sponsor, taking its total asset count to four. Its assets are relatively new, with long term leases and step-up rental escalation, which should provide stability to rentals. 
I’ve covered the details of the company in my previous note, AREIT Pre-IPO - First Philippines REIT Listing Comes with Its Peculiarities.
In this note, I’ll run the deal through our ECM framework and talk about valuations.


AREITのIPO - 低価格帯では持続可能に見える