Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Event-Driven

<ul>
<li>Zomato (Zomato IN) raised US$1.3bn in its India IPO in Jul 2021. At that time, it was the largest technology sector listing in India.</li>
<li>Zomato is one of two leading food delivery app operators in India. It recently acquired Blinkit marking its foray into the instant grocery segment.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


Zomato (Zomato IN) raised US$1.3bn in its India IPO in Jul 2021. At that time, it was the largest technology sector listing in India.
Zomato is one of two leading food delivery app operators in India. It recently acquired Blinkit marking its foray into the instant grocery segment.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Zomato IPO Lock-Up - A US$3.4bn Lockup Release Test Case for India

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Equity Capital Markets

Beijing UBOX Online Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/beijing-ubox-online-technology" target="_blank" data-smartkarma-citation="entities:36144:1" rel="noopener">Beijing UBOX Online Technology (1741985D CH)</a> is looking to raise up to US$500m in its upcoming Hong Kong IPO. </li>
<li>Beijing UBOX Online Technology (UBOX) is an unmanned retail operator (vending machine) in China. </li>
<li>As per F&amp;S, it was the largest unmanned retail operator in China, with the largest retail machine network in the country. </li>
</ul>



Beijing UBOX Online Technology (1741985D CH) is looking to raise up to US$500m in its upcoming Hong Kong IPO. 
Beijing UBOX Online Technology (UBOX) is an unmanned retail operator (vending machine) in China. 
As per F&amp;S, it was the largest unmanned retail operator in China, with the largest retail machine network in the country. 


Beijing UBOX Online Technology Pre-IPO - Trimming Losses, but yet to Factor in 2022 Lockdowns

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>
<a href="https://www.smartkarma.com/entities/swire-pacific-ltd-cl-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener">Swire Pacific (A) (19 HK)</a> expands its beverages ops, its best-performing unlisted segment, via the acquisition of Coke bottling operations in Vietnam and Cambodia. </li>
<li>Preceding my comments on Swire - and <a href="https://www.smartkarma.com/entities/swire-properties-ltd" target="_blank" data-smartkarma-citation="entities:5775:1" rel="noopener">Swire Properties (1972 HK)</a> and <a href="https://www.smartkarma.com/entities/cathay-pacific-airways-ltd" target="_blank" data-smartkarma-citation="entities:243:1" rel="noopener">Cathay Pacific Airways (293 HK)</a> - are the current setup/unwind tables for Asia-Pacific Holdcos. </li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



Swire Pacific (A) (19 HK) expands its beverages ops, its best-performing unlisted segment, via the acquisition of Coke bottling operations in Vietnam and Cambodia. 
Preceding my comments on Swire - and Swire Properties (1972 HK) and Cathay Pacific Airways (293 HK) - are the current setup/unwind tables for Asia-Pacific Holdcos. 
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Swire Acquires Coke's Ops in Vietnam & Cambodia

<ul>
<li>LG Energy Solution (LGES) raised US$10.8bn in its South Korea IPO. The stock was listed on 27th Jan 22. Its six-month lockup is set to expire soon.</li>
<li>LGES is the EV battery unit of LG Chem. The company is a major supplier to customers including Tesla and General Motors.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>


LG Energy Solution (LGES) raised US$10.8bn in its South Korea IPO. The stock was listed on 27th Jan 22. Its six-month lockup is set to expire soon.
LGES is the EV battery unit of LG Chem. The company is a major supplier to customers including Tesla and General Motors.
In this note, we will talk about the lock-up dynamics and updates since our last note.


LG Energy IPO Lock-Up - Largest Lockup Release of the Lot at US$3bn

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

<ul>
<li>Tencent's games gave only three hours a week to juveniles in school summer vacation.</li>
<li>Tencent and NetEase did not get new game licenses for the third time this year.</li>
<li>Kingsoft censors files on users’ computers, which will benefit Microsoft Office.</li>
</ul>


Tencent's games gave only three hours a week to juveniles in school summer vacation.
Tencent and NetEase did not get new game licenses for the third time this year.
Kingsoft censors files on users’ computers, which will benefit Microsoft Office.


China Internet Weekly (18Jul2022): Tencent, Alibaba, Kingsoft Office, Miss Fresh

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alibaba (9988 HK)

Zomato IPO Lock-Up - A US$3.4bn Lockup Release Test Case for India

Zomato raised US$1.3bn in its India IPO in Jul 2021. At that time, it was the largest technology sector listing in India. The lock-up on its pre...

Sumeet Singh

Beijing UBOX Online Technology Pre-IPO - Trimming Losses, but yet to Factor in 2022 Lockdowns

Beijing UBOX Online Technology (1741985D CH) is looking to raise up to US$500m in its upcoming Hong Kong IPO. UBOX is an unmanned retail operator...

Clarence Chu

StubWorld: Swire Acquires Coke's Ops in Vietnam & Cambodia

I tilt bullish on Swire Pac. A 50%+ discount is wide given it has historically traded in the low-to-mid twenties. Plus it's inexpensive at 0.26x P...

David Blennerhassett

LG Energy IPO Lock-Up - Largest Lockup Release of the Lot at US$3bn

LG Energy Solution (LGES) raised US$10.8bn in its South Korea IPO. The stock was listed on 27th Jan 22. Its six-month lockup is set to expire soon.

Sumeet Singh

China Internet Weekly (18Jul2022): Tencent, Alibaba, Kingsoft Office, Miss Fresh

Tencent follows new game law in school summer vacation. Tencent and NetEase did not get new game licenses for the third time this year. Kingsoft...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)