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Aequitas Research
IPOs and Placements coverage across Asia Pacific
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Singapore
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bearish
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Nanhua Futures Co Ltd
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17 Dec 2025 10:00
Nanhua Futures A/H Listing: Some near Term Domestic Weakness
Nanhua Futures Co Ltd plans to raise $220m in Hong Kong IPO. It is a futures company in China, offering global financial services. This note...
Nicholas Tan
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149 Views
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bullish
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Shanghai Forest Cabin Biological-Tech
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17 Dec 2025 10:00
Shanghai Forest Cabin PHIP Update: Strong Topline and Margins in 1H25
Shanghai Forest Cabin Biological-Tech (SFCBT HK) aims to raise US$140m in Hong Kong IPO, leading in China's premium skincare market with a focus...
Hong Jie Seow
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163 Views
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bullish
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Hanx Biopharmaceuticals
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17 Dec 2025 10:00
Hanx Biopharm (翰思爱泰) Pre-IPO Quick Comment: Innovative I/O Product with Early Signals
China-based biotech company Hanx Biopharm seeks to raise $100 million through a Hong Kong listing. We assessed the selling point of its core...
Ke Yan, CFA, FRM
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184 Views
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bearish
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Zhejiang Sanhua Intelligent Controls
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17 Dec 2025 09:48
Zhejiang Sanhua Intelligent Controls IPO Lockup - US$800m Cornerstone Release
Zhejiang Sanhua Intelligent Controls (2050 HK), raised around US$1.4bn in its H-share listing. The lockup on its cornerstone investors is set to...
Sumeet Singh
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204 Views
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bearish
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HashKey
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17 Dec 2025 08:20
Hashkey Group IPO Trading: Muted Insti Demand
HashKey Holdings raised around US$200m in its Hong Kong IPO, operating the largest licensed crypto exchange in the region. This note discusses the...
Nicholas Tan
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190 Views
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