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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 24th.</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 Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 24th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics, China Mobile, Meituan, SMIC, Laopu Gold.


HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Palliser discloxes stake in <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a>, and subsequently seeks to spill the board and undertake buybacks. </li>
<li>The family  increased their bid for <a href="https://www.smartkarma.com/entities/pacific-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:6261:1" rel="noopener">Pacific Industrial (7250 JP)</a> by 42.4%, from ¥2,050 to ¥2,919/share. This now becomes a short-term rate of return trade. It will trade relatively tight.</li>
<li>
<a href="https://www.smartkarma.com/entities/first-pacific-co-ltd" target="_blank" data-smartkarma-citation="entities:173:1" rel="noopener">First Pacific Co (142 HK)</a> appears to have squeezed the most out its unlisted subsidiary MPIC, for now, with the forthcoming Maynilad IPO.</li>
</ul>


Palliser discloxes stake in LG Chem Ltd (051910 KS), and subsequently seeks to spill the board and undertake buybacks. 
The family  increased their bid for Pacific Industrial (7250 JP) by 42.4%, from ¥2,050 to ¥2,919/share. This now becomes a short-term rate of return trade. It will trade relatively tight.

First Pacific Co (142 HK) appears to have squeezed the most out its unlisted subsidiary MPIC, for now, with the forthcoming Maynilad IPO.


Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

<ul>
<li>I tally 42 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/larvotto-resources-limited" target="_blank" data-smartkarma-citation="entities:36437:1" rel="noopener">Larvotto Resources (LRV AU)</a> and <a href="https://www.smartkarma.com/entities/minmetals-land-ltd" target="_blank" data-smartkarma-citation="entities:1917:1" rel="noopener">Minmetals Land (230 HK)</a>.</li>
<li>Key updates/news took place on: <a href="https://www.smartkarma.com/entities/apiam-animal-health-ltd" target="_blank" data-smartkarma-citation="entities:26109:1" rel="noopener">Apiam Animal Health (AHX AU)</a>, <a href="https://www.smartkarma.com/entities/lynch-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:36359:1" rel="noopener">Lynch Group Holdings (LGL AU)</a>, <a href="https://www.smartkarma.com/entities/joy-city-property-ltd" target="_blank" data-smartkarma-citation="entities:10958:1" rel="noopener">Joy City Property (207 HK)</a>, <a href="https://www.smartkarma.com/entities/shibaura-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:12704:1" rel="noopener">Shibaura Electronics (6957 JP)</a>, and <a href="https://www.smartkarma.com/entities/mandarin-oriental-international-ltd" target="_blank" data-smartkarma-citation="entities:4773:1" rel="noopener">Mandarin Oriental International (MAND SP)</a>.</li>
</ul>


I tally 42 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Two new deal was discussed on Smartkarma this week: Larvotto Resources (LRV AU) and Minmetals Land (230 HK).
Key updates/news took place on: Apiam Animal Health (AHX AU), Lynch Group Holdings (LGL AU), Joy City Property (207 HK), Shibaura Electronics (6957 JP), and Mandarin Oriental International (MAND SP).


Mostly) Asia-Pac M&A: Shibaura Elect., Larvotto, Minmetals Land, Lynch Group, Mandarin Oriental

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently nine pair trade opportunities across four markets and four sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently nine pair trade opportunities across four markets and four sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/horizon-robotics-inc" target="_blank" data-smartkarma-citation="entities:35637:1" rel="noopener">Horizon Robotics (9660 HK)</a> raised around US$800m in its Hong Kong IPO in October 2024. Its first set of lockups expired in April 2025. The next one is due soon.</li>
<li>Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Horizon Robotics (9660 HK) raised around US$800m in its Hong Kong IPO in October 2024. Its first set of lockups expired in April 2025. The next one is due soon.
Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
In this note, we will talk about the lockup dynamics and possible placement.


Horizon Robotics IPO Lockup - Last of the Lockups, Large Pre-IPO Investors Still Holding On

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
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Alibaba (9988 HK)

HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics,...

Ke Yan, CFA, FRM

Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Mostly) Asia-Pac M&A: Shibaura Elect., Larvotto, Minmetals Land, Lynch Group, Mandarin Oriental

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...

Gaudenz Schneider

Horizon Robotics IPO Lockup - Last of the Lockups, Large Pre-IPO Investors Still Holding On

Horizon Robotics (9660 HK) raised around US$800m in its Hong Kong IPO in October 2024. Its first set of lockups expired in April 2025. The next one...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Connect Flows Weekly (Oct 24th): Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, CNOOC, Pop Mart Intl, Duality Biotherapeutics,...

Ke Yan, CFA, FRM

Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Mostly) Asia-Pac M&A: Shibaura Elect., Larvotto, Minmetals Land, Lynch Group, Mandarin Oriental

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Oct)

​Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...

Gaudenz Schneider

Horizon Robotics IPO Lockup - Last of the Lockups, Large Pre-IPO Investors Still Holding On

Horizon Robotics (9660 HK) raised around US$800m in its Hong Kong IPO in October 2024. Its first set of lockups expired in April 2025. The next one...

Sumeet Singh

Statistical methodology identifies nine pair trade opportunities across four markets and four sectors, offering unique insights into relative...