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

HD Hyundai Marine Solution  / Equity Capital Markets

<ul>
<li>KKR is looking to raise around US$410m via selling some of its stake in <a href="https://www.smartkarma.com/entities/hd-hyundai-marine-solution-co" target="_blank" data-smartkarma-citation="entities:41002:1" rel="noopener">HD Hyundai Marine Solution (443060 KS)</a>.</li>
<li>KKR had come out of its IPO linked lockup in Nov 2024 and had  tried to launch a deal in Dec 2024 and finally undertook a deal in Feb 2025.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework</li>
</ul>


KKR is looking to raise around US$410m via selling some of its stake in HD Hyundai Marine Solution (443060 KS).
KKR had come out of its IPO linked lockup in Nov 2024 and had  tried to launch a deal in Dec 2024 and finally undertook a deal in Feb 2025.
In this note, we will talk about the placement and run the deal through our ECM framework


HD Hyundai Marine Placement - Very Well Flagged, Overhang Easing but Last Deal Didn’t Do Well

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>On 20 May, Samsung C&amp;T (028260 KS) made an important announcement that it started research and development on a space project that includes a rocket launch facility construction.</li>
<li>This is a signal that the Samsung Group may be interested in expanding in the global defense/aerospace industry once again. </li>
<li>The recent news flow on Samsung's expansion into aerospace business including Samsung C&amp;T's development of rocket launch facility is likely to positively impact Samsung C&amp;T's share price. </li>
</ul>


On 20 May, Samsung C&amp;T (028260 KS) made an important announcement that it started research and development on a space project that includes a rocket launch facility construction.
This is a signal that the Samsung Group may be interested in expanding in the global defense/aerospace industry once again. 
The recent news flow on Samsung's expansion into aerospace business including Samsung C&amp;T's development of rocket launch facility is likely to positively impact Samsung C&amp;T's share price. 


Samsung C&T: Entrance into the Global Aerospace Industry [Watch What They Do, Not What They Say]

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of May 16th which has an aggregated holding worth USD515.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD739mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Samsung Electronics, Hanwha Aerospace, Celltrion.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of May 16th which has an aggregated holding worth USD515.1bn.
We estimate that foreign flows to be inflows of USD739mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Samsung Electronics, Hanwha Aerospace, Celltrion.


KRX Foreign Holding Weekly (May 16th): SK Hynix, Samsung Electronics, Hanwha Aerospace, Celltrion

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (9 to 23 May 2025).</li>
<li><strong>Our top 10 picks in the past two weeks were up on average 5.0% (from 25 April to 9 May), outperforming KOSPI which was up 1.2% in the same period.</strong></li>
<li>Our top 10 picks in this bi-weekly include HD Hyundai, Hyundai Elevator, KT Corp, Shinsegae, Coway, Hanwha Aerospace, F&amp;F Co, SM Entertainment, and SK Inc. </li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (9 to 23 May 2025).
Our top 10 picks in the past two weeks were up on average 5.0% (from 25 April to 9 May), outperforming KOSPI which was up 1.2% in the same period.
Our top 10 picks in this bi-weekly include HD Hyundai, Hyundai Elevator, KT Corp, Shinsegae, Coway, Hanwha Aerospace, F&amp;F Co, SM Entertainment, and SK Inc. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (9 to 23 May 2025)

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks starting 28 April.</li>
<li>Our top 10 picks in Korea were up on average 5.1% (from 11 to 25 April), outperforming KOSPI which is up 4.7% in the same period. </li>
<li>Our top 10 picks in this bi-weekly include Hanwha Systems, Hyundai Elevator, HD Hyundai, Hyundai Rotem, SK Telecom, Samyang Foods, KT&amp;G, Posco, SK Inc, and Korea Investment Holdings.</li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks starting 28 April.
Our top 10 picks in Korea were up on average 5.1% (from 11 to 25 April), outperforming KOSPI which is up 4.7% in the same period. 
Our top 10 picks in this bi-weekly include Hanwha Systems, Hyundai Elevator, HD Hyundai, Hyundai Rotem, SK Telecom, Samyang Foods, KT&amp;G, Posco, SK Inc, and Korea Investment Holdings.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (Starting 28 April 2025)

South Korea

Hyundai Rotem Company Ltd. manufactures railroad equipment and defense vehicles. The Company produces high-speed trains, light rail vehicles, locomotives, and passenger coaches, main battle tanks, armored recovery vehicles, and related defense equipment. Hyundai Rotem operates worldwide.

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Hyundai Rotem Company (064350 KS)

HD Hyundai Marine Placement - Very Well Flagged, Overhang Easing but Last Deal Didn’t Do Well

KKR is looking to raise around US$410m via selling some of its stake in HD Hyundai Marine Solution (443060 KS). In this note, we talk about the...

Sumeet Singh

Samsung C&T: Entrance into the Global Aerospace Industry [Watch What They Do, Not What They Say]

The recent news flow on Samsung's expansion into aerospace business including Samsung C&T's development of rocket launch facility is likely to...

Douglas Kim

KRX Foreign Holding Weekly (May 16th): SK Hynix, Samsung Electronics, Hanwha Aerospace, Celltrion

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Samsung Electronics, Hanwha Aerospace,...

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (9 to 23 May 2025)

Our top 10 picks in the past two weeks were up on average 5.0% (from 25 April to 9 May), outperforming KOSPI which was up 1.2% in the same period.

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (Starting 28 April 2025)

Our top 10 picks in this bi-weekly include Hanwha Systems, Hyundai Elevator, HD Hyundai, Hyundai Rotem, SK Telecom, Samyang Foods, KT&G, Posco, SK...

Douglas Kim

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