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.

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/foshan-haitian-flavouring-food-co-ltd" target="_blank" data-smartkarma-citation="entities:15577:1" rel="noopener">Foshan Haitian Flavouring &amp; Food (603288 CH)</a> launched its IPO, while <a href="https://www.smartkarma.com/entities/zhejiang-sanhua-intellignt-controls-co-ltd" target="_blank" data-smartkarma-citation="entities:12940:1" rel="noopener">Zhejiang Sanhua Intellignt Controls Co., Ltd. (002050 CH)</a> has been pre-marketing.</li>
<li>On the placements front, there were a number of large deals acros the region, along with some large lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, Foshan Haitian Flavouring &amp; Food (603288 CH) launched its IPO, while Zhejiang Sanhua Intellignt Controls Co., Ltd. (002050 CH) has been pre-marketing.
On the placements front, there were a number of large deals acros the region, along with some large lockup expiries.


ECM Weekly (16 June 2025) - Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 13th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent, Xiaomi, Alibaba, Kuaishou, Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 13th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent, Xiaomi, Alibaba, Kuaishou, Xpeng.


HK Connect Flows Weekly (Jun 13th): BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 6th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Ping An, Catl, Cspc Pharma, Xpeng, Lenovo, Li Auto, Jd Health.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 6th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Ping An, Catl, Cspc Pharma, Xpeng, Lenovo, Li Auto, Jd Health.


HK Short Interest Weekly: Ping An, Catl, Cspc Pharma, Xpeng, Lenovo, Li Auto, Jd Health

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Gross SOUTHBOUND volumes up to US$15+bn a day this past 5-day week. Net buying still positive but still below US$500mm/day.</li>
<li>Among the top buys as a percentage of volume, HEALTHCARE, FINANCIALS, ENERGY stand out, dramatically. Among top sells, INFO TECH again. 9 weeks in a row negative. Tencent bigly sold.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Monitor</a> are both there free for SK readers.</li>
</ul>


Gross SOUTHBOUND volumes up to US$15+bn a day this past 5-day week. Net buying still positive but still below US$500mm/day.
Among the top buys as a percentage of volume, HEALTHCARE, FINANCIALS, ENERGY stand out, dramatically. Among top sells, INFO TECH again. 9 weeks in a row negative. Tencent bigly sold.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers.


HK Connect SOUTHBOUND Flows (To 13 June 2025); Volumes Up, TECH Down, HEALTHCARE Bought Big

<ul>
<li>Wuxi Biologics Holdings is looking to raise up to US$288m by selling about 2% of <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK)</a>. </li>
<li>This is the company's 17th placement since it listed in June 2017.</li>
<li>In this note, we talk about the updates since then and run the deal through our ECM Framework.</li>
</ul>


Wuxi Biologics Holdings is looking to raise up to US$288m by selling about 2% of Wuxi Biologics (2269 HK). 
This is the company's 17th placement since it listed in June 2017.
In this note, we talk about the updates since then and run the deal through our ECM Framework.


Wuxi Biologics Placement - Smaller Deal than Previous as Last Didn’t Do Well, Overhang Remain

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.

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Alibaba (BABA US)

ECM Weekly (16 June 2025) - Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

HK Connect Flows Weekly (Jun 13th): BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent

We analyzed the Hong Kong Connect Scheme for last week and highlighted flows for BYD, Meituan, CCB, Innovent Biologics, Petrochina, Tencent,...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Ping An, Catl, Cspc Pharma, Xpeng, Lenovo, Li Auto, Jd Health

We analyzed the latest HK SFC report for aggregate short position as of Jun 6th and highlight short interest changes in Ping An, Catl, Cspc Pharma,...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (To 13 June 2025); Volumes Up, TECH Down, HEALTHCARE Bought Big

SOUTHBOUND volumes continue to be strong, with net buying continuing near US$2bn a week. Lots of buying of deep H/A discount names.

Travis Lundy

Wuxi Biologics Placement - Smaller Deal than Previous as Last Didn’t Do Well, Overhang Remain

Wuxi Biologics Holdings is looking to raise up to US$288m by selling about 2% of Wuxi Biologics (2269 HK). This will be the 17th placement in the...

Sumeet Singh

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