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

SEIBU HOLDINGS:  Tough deal to swallow, long-term there's hope.

Seibu Holdings Placement - Expected Sell Down but Discount Is Too Tight

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Cerberus Private Equity and Affiliates plan to sell&nbsp;US$865 MM worth of&nbsp;Seibu Holdings (9024 JP) or 9.9% of the company through a secondary placement.We would avoid the deal given that Cerberus has a lot more stock left to sell (apparently had a disagreement with the founder at the time of IPO and didn't sell any stock then) and this will likely keep more deals coming and could prove to be an overhang for the stock. In addition, while the stock has more than doubled since its IPO last year but the company's earnings outlook remains far from exciting.

Cerberus Private Equity and Affiliates plan to sell&nbsp;US$865 MM worth of&nbsp;Seibu Holdings (9024 JP) or 9.9% of the company through a secondary placement.We would avoid the deal given that Cerberus has a lot more stock left to sell (apparently had a disagreement with the founder at the time of IPO and didn't sell any stock then) and this will likely keep more deals coming and could prove to be an overhang for the stock. In addition, while the stock has more than doubled since its IPO last year but the company's earnings outlook remains far from exciting.

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