{ "docId": "019dd923-5e88-73ef-bd58-4cd5904d1686", "docSlug": "008f4cca08621057", "documentTitle": "ey q2 2020 global ipo trends report v1", "authorId": "MorganStanley", "authorName": "EY", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "equity_research", "sourceTypeLabel": "Equity research", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 14, "pageCount": 32, "prevPage": 13, "nextPage": 15, "slideType": "regional_insights", "function": "summarize", "density": "dense", "nDataPoints": 1, "notes": null, "elementsJson": [ "headline_text", "bullet_list", "callout_box" ], "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd58-4cd5904d1686/14", "deckHref": "/decks/019dd923-5e88-73ef-bd58-4cd5904d1686", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd58-4cd5904d1686.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd58-4cd5904d1686#slide-14", "components": [ { "bbox": { "h": 0.35, "w": 0.28, "x": 0.68, "y": 0.195 }, "kind": "callout", "text": "C-suite executives continuing their IPO readiness will need to ensure their business models are battle-tested and their companies are ready to complete their transaction within a shorter IPO window and accept potential valuation adjustments.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f9ecfe4f-95b0-47e3-b13d-3b26302227a0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.69, "x": 0.04, "y": 0.95 }, "kind": "disclaimer", "text": "All values are US$ unless otherwise noted. | YTD 2020 and YTD 20 refers to the first six months of 2020 and cover priced IPOs from 1 January 2020 to 23 June 2020 plus expected IPOs by the end of June. Q2 2020 and Q2 20 refer to the second quarter of 2020 and cover priced IPOs from 1 April 2020 to 23 June 2020 plus expected IPOs by the end of June.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0b920285-31d4-433e-8369-930d880af7ce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.65, "w": 0.58, "x": 0.04, "y": 0.14 }, "kind": "list", "text": "US-China tension may negatively impact US investment in Chinese IPO stocks. On the flip side, potential changes to US listing regulations for Chinese companies may increase IPO activity on both Mainland China and Hong Kong stock exchanges.\nOverall, we are optimistic. However, we expect that COVID-19 will continue to affect Asia-Pacific markets in 2H 2020. We also anticipate that some economic data and company financial results may be worse than expected. Lower valuations of IPO candidates based on these factors will create uncertainty.\nIn Greater China, economies are recovering quickly. Given vibrancy of the IPO markets, particularly the secondary listing of China Concept Stocks and other mega deals in the pipeline, calendar year 2020 proceeds should be sizeable.\nIn Japan, COVID-19 had a significant impact on the Main Market, JASDAQ and MOTHERS, with 18 companies postponing their IPOs between March and April 2020. 2020 full year IPO activity is anticipated to be slightly lower than in 2019, with more smaller and medium sized deals in the pipeline.\nIn Australia and New Zealand, IPOs will remain challenging for the remainder of 2020 although companies that demonstrated resilient business models during COVID-19 and those exhibiting a strong growth story will have much better chance to complete their IPO.\nAcross Southeast Asia, while entrepreneurial companies are expected to dominate IPO activity, there could be one or two mega IPOs to come to the Southeast Asia exchanges in the second half of 2020.\nActivity in other Asia-Pacific countries will depend on local economic conditions and government stimulus programs.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7941794f-9ca8-4c57-9f85-173c0f6ab4c4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.28, "x": 0.04, "y": 0.05 }, "kind": "title", "text": "Asia-Pacific IPO market outlook", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4f5b5a9f-aa86-437e-bf3f-4dcca6f10d74", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 24, "from": 5, "beatId": "7458744d-20f5-42ae-a15f-f2b38a71652c", "arcName": "The Sparkline", "arcSlug": "sparkline", "beatName": "Evidence", "beatSlug": "evidence", "evidence": "The document provides various data and insights on IPO market performance across regions (p5-24).", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [ { "to": 18, "from": 9, "name": "Why Now", "slug": "15-why-now", "bestFor": "Sales pitches, fundraising, requesting immediate budget approval", "matchId": "7661b7dc-e180-408c-a3d8-9225d8b33128", "evidence": "The document highlights signs of IPO market recovery and growth in certain regions (p9-18).", "position": 0, "objective": "Why now is a good time for IPOs", "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity", "confidence": 0.7, "description": "Create temporal urgency by proving that the window of opportunity is opening or closing" }, { "to": 23, "from": 7, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "47e6321d-0460-4713-aa87-991701178a13", "evidence": "The document discusses the decline in IPO activity due to COVID-19 and the potential consequences of inaction (p7-23).", "position": 1, "objective": "The cost of inaction in the IPO market", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }