APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC 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

Dajin Heavy Industry / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dajin-heavy-industry" target="_blank" data-smartkarma-citation="entities:50156:1" rel="noopener">Dajin Heavy Industry (1081 HK) </a>raised around US$740m in its upcoming Hong Kong IPO.</li>
<li>It is a globally leading provider of core offshore wind power equipment with nearly two decades of dedicated experience in the new energy industry.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Dajin Heavy Industry (1081 HK) raised around US$740m in its upcoming Hong Kong IPO.
It is a globally leading provider of core offshore wind power equipment with nearly two decades of dedicated experience in the new energy industry.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Aequitas: Dajin Heavy IPO Trading - Muted Demand Overall; Strong Cornerstones Nonetheless

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

<ul>
<li>Dajin Heavy raised HKD 6,465m (USD 826m) from its global offering and will list on the Hong Kong Stock Exchange on Friday, June 5, 2026.</li>
<li>In our previous note, we looked at the company's fundamentals and the deal terms.</li>
<li>In this note, we provide an update for the IPO before its trading debut.</li>
</ul>


Dajin Heavy raised HKD 6,465m (USD 826m) from its global offering and will list on the Hong Kong Stock Exchange on Friday, June 5, 2026.
In our previous note, we looked at the company's fundamentals and the deal terms.
In this note, we provide an update for the IPO before its trading debut.


Dajin Heavy Industry (大金重工) A+H IPO Trading

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dajin-heavy-industry" target="_blank" data-smartkarma-citation="entities:50156:1" rel="noopener">Dajin Heavy Industry (1081 HK)</a>'s IPO at HK$66.40 to raise HK$5.6bn is sizable. Its leadership position in providing core offshore wind power equipment globally is a strength.</li>
<li>The market consensus suggests solid growth prospects, with a 3-year earnings CAGR of 44.8%. Its 1Q26 result has showcased its momentum - net profit surged 88.2%.</li>
<li>The IPO price equals a 21.8% discount to A-share <a href="https://www.smartkarma.com/entities/dajin-heavy-industry-corp-a" target="_blank" data-smartkarma-citation="entities:13598:1" rel="noopener">Dajin Heavy A (002487 CH)</a>, which is not attractive enough. Various valuation scenarios point to single-digit upside only.   </li>
</ul>



Dajin Heavy Industry (1081 HK)'s IPO at HK$66.40 to raise HK$5.6bn is sizable. Its leadership position in providing core offshore wind power equipment globally is a strength.
The market consensus suggests solid growth prospects, with a 3-year earnings CAGR of 44.8%. Its 1Q26 result has showcased its momentum - net profit surged 88.2%.
The IPO price equals a 21.8% discount to A-share Dajin Heavy A (002487 CH), which is not attractive enough. Various valuation scenarios point to single-digit upside only.   


Dajin Heavy Industry (1081 HK) IPO: Not Going to Miss Much

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Dajin Heavy Industries launched Hongkong IPO to raise up to HK$5.8B. They offer integrated solutions across production, transportation, and delivery of wind foundation to major offshore wind developers worldwide.  </li>
<li>Dajin Heavy Industries intends to use the IPO proceeds to enhance integrated deep-sea solutions, to construct assembly base in Europe, for new market expansion, for R&amp;D and working capital.</li>
<li>Strong order book position, margin strength and market position will help Dajin boost the business considerably. Valuation seems reasonable and we would recommend investors to buy into the growth story.</li>
</ul>


Dajin Heavy Industries launched Hongkong IPO to raise up to HK$5.8B. They offer integrated solutions across production, transportation, and delivery of wind foundation to major offshore wind developers worldwide.  
Dajin Heavy Industries intends to use the IPO proceeds to enhance integrated deep-sea solutions, to construct assembly base in Europe, for new market expansion, for R&amp;D and working capital.
Strong order book position, margin strength and market position will help Dajin boost the business considerably. Valuation seems reasonable and we would recommend investors to buy into the growth story.


Dajin Heavy Industries IPO: Harnessing A Favourable Growth Story Blowing In The Strong Winds

<ul>
<li>Dajin Heavy, a China-based offshore wind equipment manufacturer, launched its IPO to raise USD 737m through an A+H listing.</li>
<li>In this note, we look at the deal terms and provide our thoughts on the valuation for the company.</li>
<li>We analyze reference cornerstone and sponsor performance and assess the risk-reward of the deal.</li>
</ul>


Dajin Heavy, a China-based offshore wind equipment manufacturer, launched its IPO to raise USD 737m through an A+H listing.
In this note, we look at the deal terms and provide our thoughts on the valuation for the company.
We analyze reference cornerstone and sponsor performance and assess the risk-reward of the deal.


Dajin Heavy Industry (大金重工) A+H IPO: Analysis of Deal Terms

China

Dajin Heavy Industry Co., Ltd. manufactures and sells wind power equipment. The Company produces wind turbine frames, offshore wind turbine frames and infrastructures, thermal boiler island steel structures, and more. Dajin Heavy Industry also provides offshore oil and gas rigs industrial structures.

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Dajin Heavy Industry (1081 HK)

Aequitas: Dajin Heavy IPO Trading - Muted Demand Overall; Strong Cornerstones Nonetheless

Dajin Heavy raised around US$740m in its upcoming Hong Kong IPO. We have covered various aspects of the deal in our previous note. In this note, we...

Nicholas Tan

Dajin Heavy Industry (大金重工) A+H IPO Trading

Dajin Heavy raised USD 826m to list on HKEX on Friday, June 5. We are cautious on debut performance despite decent 134x retail demand and...

Ke Yan, CFA, FRM