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

<ul>
<li>What seems to be the controlling shareholder of <a href="https://www.smartkarma.com/entities/laopu-gold-co-ltd" target="_blank" data-smartkarma-citation="entities:44036:1" rel="noopener">Laopu Gold (6181 HK)</a>, aims to raise around US$250m via selling 1.6% of the company.</li>
<li>The shares have done very well since its listing and the previous deal in the name did well too.</li>
<li>In this note, we talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


What seems to be the controlling shareholder of Laopu Gold (6181 HK), aims to raise around US$250m via selling 1.6% of the company.
The shares have done very well since its listing and the previous deal in the name did well too.
In this note, we talk about the deal dynamics and run the deal through our ECM framework.


Laopu Gold Placement - Relatively Small Deal, past One Did Well

Montage Technology   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/montage-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:28236:1" rel="noopener">Montage Technology (688008 CH)</a> (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.</li>
<li>MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Montage Technology (688008 CH) (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.
MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

<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, there was a lack of fireworks from last week's listing. This week might have some better luck.</li>
<li>On the placements front, there was no dearth of deals with raisings across the region.</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, there was a lack of fireworks from last week's listing. This week might have some better luck.
On the placements front, there was no dearth of deals with raisings across the region.


ECM Weekly (25 August 2025)- Hansoh, Daiichi, IFAST, Guzman, Vikram, Shuandeng, Jiaxin, Forest, Aux

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sicc-co-ltd" target="_blank" data-smartkarma-citation="entities:36273:1" rel="noopener">SICC (688234 CH)</a>, a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing.</li>
<li>In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.</li>
<li>We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



SICC (688234 CH), a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing.
In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.
We have looked at the past performance and likely A/H premium in our previous note. In this note, we talk about the trading dynamics.


SICC A/H Trading - Strong Retail, Lukewarm Insti Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eve-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:14769:1" rel="noopener">EVE Energy (300014 CH)</a> (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.</li>
<li>EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.
EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Eve Energy A/H Listing - One of the Leaders but Growth Has Been Slowing

China

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

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Baidu (BIDU US)

Laopu Gold Placement - Relatively Small Deal, past One Did Well

What seems to be the controlling shareholder of Laopu Gold (6181 HK), aims to raise around US$250m via selling 1.6% of the company.

Sumeet Singh

Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

Montage Technology (688008 CH), a provider of memory interface and interconnect chips, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

ECM Weekly (25 August 2025)- Hansoh, Daiichi, IFAST, Guzman, Vikram, Shuandeng, Jiaxin, Forest, Aux

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

SICC A/H Trading - Strong Retail, Lukewarm Insti Demand

SICC (688234 CH), a manufacturer of high-quality SiC substrates, raised around US$260m in its H-share listing. In this note, we talk about the...

Sumeet Singh

Eve Energy A/H Listing - One of the Leaders but Growth Has Been Slowing

EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing. In this note, we look at the...

Sumeet Singh

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