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>In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan &amp; Korea after having looked at HK &amp; India.</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 2025, with a look at Japan &amp; Korea after having looked at HK &amp; India.
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 2025 Asia IPO Pipeline - Japan and South Korea

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Quantitative Analysis

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> has been falling for 2 weeks, despite recent revenues favorable numbers. </li>
<li>
The stock appears short-term oversold, our models are signaling a high probability of WEEKLY reversal from the current levels.</li>
<li>Our models say a rally from current levels could reach between 49638 and 51936 (conservative targets). CHECK THE VIDEO PODCAST AT THE END OF THE INSIGHT (DETAILED ANALYSIS).
</li>
</ul>



Fast Retailing (9983 JP) has been falling for 2 weeks, despite recent revenues favorable numbers. 

The stock appears short-term oversold, our models are signaling a high probability of WEEKLY reversal from the current levels.
Our models say a rally from current levels could reach between 49638 and 51936 (conservative targets). CHECK THE VIDEO PODCAST AT THE END OF THE INSIGHT (DETAILED ANALYSIS).



Fast Retailing (9983) Falling Fast: Reversal on the Horizon

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.

Event-Driven

<ul>
<li>On 10 January, Bloomberg reported that Apollo is considering an equity commitment of JPY1.5 trillion in the <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> MBO. </li>
<li>Securing financing is a key challenge for the MBO. Apollo’s involvement suggests a shift to a higher mix of equity vs debt, which should ease concerns about securing debt financing. </li>
<li>The article suggests that the MBO valuation could be lower than previously reported. However, 7&amp;i's underlying value supports a JPY8 trillion MBO valuation (market cap). </li>
</ul>


On 10 January, Bloomberg reported that Apollo is considering an equity commitment of JPY1.5 trillion in the Seven &amp; I Holdings (3382 JP) MBO. 
Securing financing is a key challenge for the MBO. Apollo’s involvement suggests a shift to a higher mix of equity vs debt, which should ease concerns about securing debt financing. 
The article suggests that the MBO valuation could be lower than previously reported. However, 7&amp;i's underlying value supports a JPY8 trillion MBO valuation (market cap). 


Seven & I Holdings (3382 JP): The MBO Is Still Alive and Kicking

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>In December, I thought the March 2025 Nikkei 225 Rebalance was going to be 2 ADDs 2 DELETEs and a double-capping for Fast Retailing. </li>
<li>Fast Retailing has fallen sharply vs Nikkei 225, and another stock has announced a large-multiple share split, making it a strong candidate for Nikkei 225 ADDITION in March 2025.</li>
<li>There is short-term path risk on all three ADDs, but they are definitely worth watching. Keep an eye out for separate insights on two of these names.</li>
</ul>


In December, I thought the March 2025 Nikkei 225 Rebalance was going to be 2 ADDs 2 DELETEs and a double-capping for Fast Retailing. 
Fast Retailing has fallen sharply vs Nikkei 225, and another stock has announced a large-multiple share split, making it a strong candidate for Nikkei 225 ADDITION in March 2025.
There is short-term path risk on all three ADDs, but they are definitely worth watching. Keep an eye out for separate insights on two of these names.


[Quiddity Index Jan25] Nikkei 225 Mar Rebal: 3 IN, 3 OUT, $3bn One Way

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.</li>
<li>EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.</li>
<li>Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.</li>
</ul>


Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.
EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.
Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.


Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Japan

FAST RETAILING CO., LTD. operates a chain of clothing stores, UNIQLO, throughout Japan and in other markets overseas including UK, China, Hong Kong, South Korea, US, France, Singapore and Russia.  The Company designs, manufactures, and retails its own line of casual clothing.

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Fast Retailing (9983 JP)

Aequitas 2025 Asia IPO Pipeline - Japan and South Korea

In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan & Korea after having looked at HK & India.

Sumeet Singh

Fast Retailing (9983) Falling Fast: Reversal on the Horizon

Fast Retailing stock has been falling for 2 weeks. Our models suggest a high probability of a WEEKLY reversal from current support levels. Check...

Nico Rosti

Seven & I Holdings (3382 JP): The MBO Is Still Alive and Kicking

Apollo’s involvement strongly signals the viability of the Ito family MBO. 7&i's underlying value supports a JPY8 trillion MBO valuation.

Arun George

[Quiddity Index Jan25] Nikkei 225 Mar Rebal: 3 IN, 3 OUT, $3bn One Way

Nikkei 225 March 2025 Rebalance could easily be three ADDs and three DELETEs this time. Last time it could have been too, but they only went for...

Travis Lundy

Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Rotation from momentum winners into oversold quality such as SPE, EU defense name strength may be positive for JP heavies, US power semi weakness...

Andrew Jackson

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