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>In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, starting with Hong Kong. </li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, starting with Hong Kong. 
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2023 Asia IPO Pipeline - Hong Kong

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

REPT BATTERO Energy / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rept-battero-energy" target="_blank" data-smartkarma-citation="entities:36626:1" rel="noopener">REPT BATTERO Energy (REPT HK)</a> is looking to raise US$1bn in its upcoming Hong Kong IPO. The bookrunners on the deal are Morgan Stanley, and Citic Securities.</li>
<li>REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. </li>
<li>As per F&amp;S, it was amongst the top ten lithium-ion battery manufacturers in China as per installations for new energy application in 2021.</li>
</ul>



REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO. The bookrunners on the deal are Morgan Stanley, and Citic Securities.
REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. 
As per F&amp;S, it was amongst the top ten lithium-ion battery manufacturers in China as per installations for new energy application in 2021.


<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs</li>
<li>On the IPO front,  things are started to cool down in to the year end with some smaller issuers still trying their luck to get listed before the year end.</li>
<li>On placements front, most of the action was in India with Australia seeing a large offering after a while.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs
On the IPO front,  things are started to cool down in to the year end with some smaller issuers still trying their luck to get listed before the year end.
On placements front, most of the action was in India with Australia seeing a large offering after a while.


ECM Weekly (18th Dec 2022) - China ADRs, Skymark, Daiei, Weilong, KFintech, Sula, Endeavour, Adani

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">VinFast (1905332D VN)</a>  is looking to raise up to US$1bn in its upcoming US IPO.</li>
<li>VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



VinFast (1905332D VN)  is looking to raise up to US$1bn in its upcoming US IPO.
VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.
In this note, we talk about the not-so-positive aspects of the deal.


VinFast Auto Pre-IPO - The Negatives - ... But Starting Low

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Sunshine Insurance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sunshine-insurance-group-company-limited" target="_blank" data-smartkarma-citation="entities:36464:1" rel="noopener">Sunshine Insurance (6963 HK)</a> priced its IPO at HK$5.83 per share to raise net proceeds of HK$6.4 billion (US$824 million). The shares will start trading tomorrow.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/sunshine-insurance-group-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:85205" rel="noopener">Sunshine Insurance Group IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/sunshine-insurance-group-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:85253" rel="noopener">Sunshine Insurance Group IPO: The Bear Case</a> and <a href="https://www.smartkarma.com/insights/sunshine-insurance-group-ipo-valuation-insights" target="_blank" data-smartkarma-citation="insights:85356" rel="noopener">Sunshine Insurance Group IPO: Valuation Insights</a>. </li>
<li>Peers have modestly re-rated and the IPO price continues to imply a premium to the median peer CY2022 P/EV and P/B multiples. Therefore, the IPO price remains unattractive.</li>
</ul>



Sunshine Insurance (6963 HK) priced its IPO at HK$5.83 per share to raise net proceeds of HK$6.4 billion (US$824 million). The shares will start trading tomorrow.
We previously discussed the IPO in Sunshine Insurance Group IPO: The Bull Case, Sunshine Insurance Group IPO: The Bear Case and Sunshine Insurance Group IPO: Valuation Insights. 
Peers have modestly re-rated and the IPO price continues to imply a premium to the median peer CY2022 P/EV and P/B multiples. Therefore, the IPO price remains unattractive.


Sunshine Insurance Group IPO: Trading Debut

China

CALB Group Co., Ltd. is a leading Chinese manufacturer specializing in the design, development, production, and sales of advanced lithium-ion batteries, battery management systems, and related integrated products. Its products are primarily used in electric vehicles and energy storage systems. The company is headquartered in Changzhou, Jiangsu Province, China, and was founded in 2007.

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CALB (3931 HK)

Aequitas 2023 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2023, starting with Hong Kong. The deals you see are only a part of the...

Sumeet Singh

REPT BATTERO Energy Pre-IPO Tearsheet

REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO. The bookrunners on the deal are Morgan Stanley, and Citic...

Clarence Chu

ECM Weekly (18th Dec 2022) - China ADRs, Skymark, Daiei, Weilong, KFintech, Sula, Endeavour, Adani

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

VinFast Auto Pre-IPO - The Negatives - ... But Starting Low

VinFast is looking to raise up to US$1bn in its upcoming US IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Sunshine Insurance Group IPO: Trading Debut

Peers have modestly re-rated and the IPO price continues to imply a premium to the median peer CY2022 P/EV and P/B multiples. Therefore, the IPO...

Arun George

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