APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Afcons Infrastructure Limited / Equity Capital Markets

Afcons Infrastructure Limited (6595396Z IN)

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<li>
<a href="https://www.smartkarma.com/entities/afcons-infrastructure-limited" target="_blank" data-smartkarma-citation="entities:41288:1" rel="noopener">Afcons Infrastructure Limited (6595396Z IN)</a> is looking to raise US$840m in its upcoming India IPO.</li>
<li>Afcons Infrastructure Limited (Afcons) is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Afcons Infrastructure Limited (6595396Z IN) is looking to raise US$840m in its upcoming India IPO.
Afcons Infrastructure Limited (Afcons) is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group.
In this note, we talk about the not-so-positive aspects of the deal.


Afcons Infrastructure Limited Pre-IPO - The Negatives - But Overdue Trade Receivables Increasing

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<li>
<a href="https://www.smartkarma.com/entities/zhubajie-co-ltd" target="_blank" data-smartkarma-citation="entities:40654:1" rel="noopener">Zhubajie Co Ltd (ZHUHKZ HK)</a> is looking to raise at least US$100m in its upcoming Hong Kong IPO.</li>
<li>Zhubajie (ZBJ) is a customized enterprise services e-commerce platform in China. The firm focuses on matching and facilitating the transactions between enterprise clients and service providers through its ZBJ platform.</li>
<li>In this note, we talk about the firm’s historical performance.</li>
</ul>



Zhubajie Co Ltd (ZHUHKZ HK) is looking to raise at least US$100m in its upcoming Hong Kong IPO.
Zhubajie (ZBJ) is a customized enterprise services e-commerce platform in China. The firm focuses on matching and facilitating the transactions between enterprise clients and service providers through its ZBJ platform.
In this note, we talk about the firm’s historical performance.


Zhubajie Pre-IPO - Profitability Looks like a Long Shot

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<li>
<a href="https://www.smartkarma.com/entities/cloudchain" target="_blank" data-smartkarma-citation="entities:40304:1" rel="noopener">Cloudchain (CC CH)</a> is looking to raise up to US$200m in its upcoming HK IPO. </li>
<li>Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>



Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. 
Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.
In this note, we will talk about the not-so-positive aspects of the deal.


Cloudchain Pre-IPO - The Negatives - But Still Not Convinced

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cloudchain" target="_blank" data-smartkarma-citation="entities:40304:1" rel="noopener">Cloudchain (CC CH)</a> is looking to raise up to US$200m in its upcoming HK IPO. </li>
<li>Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. 
Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.
In this note, we will talk about the positive aspects of the deal.


Cloudchain Pre-IPO - The Positives - Turned Profitable Recently

WT Microelectronics / Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/wt-microelectronics-co-ltd" target="_blank" data-smartkarma-citation="entities:19712:1" rel="noopener">WT Microelectronics (3036 TT)</a> major shareholder, <a href="https://www.smartkarma.com/entities/wpg-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16570:1" rel="noopener">WPG Holdings (3702 TT)</a>, seeks to raise up to approximately NT5.15bn (US$159m) through a secondary block deal, selling approximately 40m shares (4.5% of TSO). </li>
<li>The deal is a small one to digest at 3.6 days of three month ADV and 4.1% of current mcap.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



WT Microelectronics (3036 TT) major shareholder, WPG Holdings (3702 TT), seeks to raise up to approximately NT5.15bn (US$159m) through a secondary block deal, selling approximately 40m shares (4.5% of TSO). 
The deal is a small one to digest at 3.6 days of three month ADV and 4.1% of current mcap.
In this note, we will talk about the placement and run the deal through our ECM framework.


WT Microelectronics Placement - Wouldn't Be Difficult to Digest

Hong Kong

Hony Media Group is primarily involved in internet health and entertainment and media businesses. Its healthcare segment offers digitized operation services through "Echartnow" and smart healthcare services via "Meerkat Health," while its entertainment segment focuses on investing in and producing films, animations, and TV dramas. The company was founded in 2002 and is headquartered in Hong Kong.

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Hony Media Group (419 HK)

Afcons Infrastructure Limited Pre-IPO - The Negatives - But Overdue Trade Receivables Increasing

Afcons Infrastructure Limited (6595396Z IN) is looking to raise US$840m in its upcoming India IPO. In this note, we talk about the not-so-positive...

Ethan Aw

Zhubajie Pre-IPO - Profitability Looks like a Long Shot

Zhubajie Co Ltd (ZHUHKZ HK) is looking to raise at least US$100m in its upcoming Hong Kong IPO. In this note, we talk about the firm’s historical...

Ethan Aw

Cloudchain Pre-IPO - The Negatives - But Still Not Convinced

Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. In this note, we will talk about the not-so-positive aspects of the deal.

Ethan Aw

Cloudchain Pre-IPO - The Positives - Turned Profitable Recently

Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Ethan Aw

WT Microelectronics Placement - Wouldn't Be Difficult to Digest

WT Microelectronics has just launched a US$341m GDR offer today (9th Apr 2024). We wrote on its earlier secondary block deal in Nov 2023 here.

Ethan Aw

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