ECM Weekly (16 June 2025) - Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi
Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
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Kioxia IPO Lockup Expiry - US$6.7bn Release, with Shareholders Eager to Sell
Kioxia Holdings (285A JP) raised around US$800m (including over-allocation) in its Japan IPO, after pricing its IPO in the middle of its range. Its...
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Kitazato (368A JP): Greenshoe Nudges It Closer to Global Index Inclusion, but Shortfall Remains
Kitazato (368A JP) currently falls short of the float cap thresholds for Global indices, but with full greenshoe exercise, it stands a chance of...
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What Is Kioxia? And Should You Bother? Part 1: Why NAND Is so Hard (And Not Attractive)
Tier-2 NAND memory supplier Kioxia faces challenges with high Capex and R&D costs, low Free Cash Flows, and lagging behind technology leader SK...
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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.
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