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

Montage Technology   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/montage-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:28236:1" rel="noopener">Montage Technology (688008 CH)</a> (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.</li>
<li>MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Montage Technology (688008 CH) (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.
MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

Will Semiconductor / Equity Capital Markets

<ul>
<li>
<strong>Omnivision (<a href="https://www.smartkarma.com/entities/will-semiconductor-co-ltd-shan" target="_blank" data-smartkarma-citation="entities:28274:1" rel="noopener">Will Semiconductor 603501 CH)</a> </strong> (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing.</li>
<li>OVIC, is the world’s third largest smartphone CIS and the largest automotive CIS provider with a market share of 32.9% based on revenue in 2024, according to Frost &amp; Sullivan</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Omnivision (Will Semiconductor 603501 CH)  (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing.
OVIC, is the world’s third largest smartphone CIS and the largest automotive CIS provider with a market share of 32.9% based on revenue in 2024, according to Frost &amp; Sullivan
In this note, we look at its past performance and other deal dynamics that might impact the listing.


OmniVision Integrated Circuits Group (Will Semicon) A/H Listing - Earnings Have Been Recovering

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The five year data period for the September 2025 Nikkei 225 rebalance is now over (as of 31 July). First obvious news? No <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> capping.</li>
<li>That was obvious a couple months ago, and the <a href="https://www.smartkarma.com/entities/baycurrent-consulting-inc" target="_blank" data-smartkarma-citation="entities:25985:1" rel="noopener">BayCurrent Consulting (6532 JP)</a> buying to come has been known for five months.</li>
<li>The <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a> Offering last month makes it more likely an ADD than it was in June (when it didn't replace NTT Data), but not a done deal.</li>
</ul>


The five year data period for the September 2025 Nikkei 225 rebalance is now over (as of 31 July). First obvious news? No Fast Retailing (9983 JP) capping.
That was obvious a couple months ago, and the BayCurrent Consulting (6532 JP) buying to come has been known for five months.
The Kokusai Electric (6525 JP) Offering last month makes it more likely an ADD than it was in June (when it didn't replace NTT Data), but not a done deal.


[Quiddity Index] Nikkei 225 Sep25 Rebal: Final Liquidity Rankings

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Yields soared after the poor set of jobs data causing home builders to jump. Watch Sumitomo Forestry and Shin Etsu for upside.</li>
<li>TEL's poor look for WFE sends semi cap tumbling, although Lam Research up as it likely takes market share.</li>
<li>Eastman -19% on poor numbers reflecting DOW's woes the week before as tariffs pose significant headwinds for the chemicals industry.</li>
</ul>


Yields soared after the poor set of jobs data causing home builders to jump. Watch Sumitomo Forestry and Shin Etsu for upside.
TEL's poor look for WFE sends semi cap tumbling, although Lam Research up as it likely takes market share.
Eastman -19% on poor numbers reflecting DOW's woes the week before as tariffs pose significant headwinds for the chemicals industry.


Japan Morning Connection: US Lower After Trump Temper Tantrum over Jobs and Increased Tariffs

GigaDevice Semiconductor  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gigadevice-semiconductor-inc" target="_blank" data-smartkarma-citation="entities:27253:1" rel="noopener">GigaDevice Semiconductor (603986 CH)</a> (GD), an IC design house, aims to raise around US$1bn in its H-share listing.</li>
<li>GD is a leading specialty memory chip and MCU company in mainland China.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing.
GD is a leading specialty memory chip and MCU company in mainland China.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


GigaDevice A/H Listing -Strong Long Term Record but Exposed to the Memory Cycle

Japan

Kokusai Electric Corporation manufactures and distributes semiconductor manufacturing systems. The Company produces batch processing systems, single wafer processing systems, and other systems. Kokusai Electric also operates advanced thermal process technology development, training, and other businesses.

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Kokusai Electric (6525 JP)

Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

Montage Technology (688008 CH), a provider of memory interface and interconnect chips, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

OmniVision Integrated Circuits Group (Will Semicon) A/H Listing - Earnings Have Been Recovering

Omnivision (Will Semiconductor 603501 CH) (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

[Quiddity Index] Nikkei 225 Sep25 Rebal: Final Liquidity Rankings

The Nikkei 225 rebalance for September 2025 is now finalised as regards liquidity data and capping. But we don't know what sensitivity the index...

Travis Lundy

Japan Morning Connection: US Lower After Trump Temper Tantrum over Jobs and Increased Tariffs

Home builders pushed higher by treasuries and yields, poor numbers from TEL send SPE down, numbers from Eastman send chemical related lower.

Andrew Jackson

GigaDevice A/H Listing -Strong Long Term Record but Exposed to the Memory Cycle

GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing. In this note, we look at the...

Sumeet Singh

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