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

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>
<a href="https://www.smartkarma.com/entities/huitongda" target="_blank" data-smartkarma-citation="entities:33789:1" rel="noopener">Huitongda (9878 HK)</a> and <a href="https://www.smartkarma.com/entities/lepu-biopharma-co-ltd" target="_blank" data-smartkarma-citation="entities:33231:1" rel="noopener">Lepu Biopharma (LBP HK)</a> got the HK ECM market going post CNY.</li>
<li>There were no major placements this week apart from a few blocks in Korea and India.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Huitongda (9878 HK) and Lepu Biopharma (LBP HK) got the HK ECM market going post CNY.
There were no major placements this week apart from a few blocks in Korea and India.


ECM Weekly (13th Feb 2022) -Krafton, Huitongda, GogoX, Lepu, Adani Wilmar, Vedant, Mitsubishi Estate

<ul>
<li>
<a href="https://www.smartkarma.com/entities/krafton-inc" target="_blank" data-smartkarma-citation="entities:28956:1" rel="noopener"> Krafton Inc (259960 KS)</a> raised about US$3.8bn in its South Korea IPO and its six month lock-up expires on 10th February.</li>
<li>Krafton Inc is a video game developer based in South Korea.  The company is known for developing the global hit, PlayerUnknown's Battlegrounds (PUBG), an online multiplayer battle royale game. </li>
<li>It is backed by Tencent and has also developed other games such as Tera, Elyon, Golf King: World Tour, Mini Golf King, Bowling King, and Archery King.</li>
</ul>



 Krafton Inc (259960 KS) raised about US$3.8bn in its South Korea IPO and its six month lock-up expires on 10th February.
Krafton Inc is a video game developer based in South Korea.  The company is known for developing the global hit, PlayerUnknown's Battlegrounds (PUBG), an online multiplayer battle royale game. 
It is backed by Tencent and has also developed other games such as Tera, Elyon, Golf King: World Tour, Mini Golf King, Bowling King, and Archery King.


Krafton IPO Lock-Up Expiry - Few IPO Shares, More from Pre-IPO Investors

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>For this March rebalancing, the screening base date is January 28, which is the last trading day of January. So, the 3-month rebalancing review period is now done.</li>
<li>Other than LG Energy (+₩146,2B), we should pay the most attention to AfreecaTV (+1.70x), Chunbo (+0.36x), Douzone Bizon (-4.82x), and SoulBrain (-0.99x).</li>
<li>In addition, large-cap stocks such as SKIET (+0.25x), Ecopro BM (+0.10x), LG Chem (-0.62x), and Posco Chemical (-0.30x) will likely draw much attention.</li>
</ul>


For this March rebalancing, the screening base date is January 28, which is the last trading day of January. So, the 3-month rebalancing review period is now done.
Other than LG Energy (+₩146,2B), we should pay the most attention to AfreecaTV (+1.70x), Chunbo (+0.36x), Douzone Bizon (-4.82x), and SoulBrain (-0.99x).
In addition, large-cap stocks such as SKIET (+0.25x), Ecopro BM (+0.10x), LG Chem (-0.62x), and Posco Chemical (-0.30x) will likely draw much attention.


KRX K-New Deal Index Screening Period Ended: Rebalancing Changes & Passive Impacts Update

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>The trading data of Korean stock market on January 27th and 28th clearly shows how the NPS and other local pension funds strongly supported LG Energy Solution IPO's stock price. </li>
<li>What is concerning is that the local pension funds nearly neglected net purchase of all other 2,400+ stocks in Korea.</li>
<li>NPS and local pension funds may have less room to overly support LG Energy Solution and other Korean stocks in February. </li>
</ul>


The trading data of Korean stock market on January 27th and 28th clearly shows how the NPS and other local pension funds strongly supported LG Energy Solution IPO's stock price. 
What is concerning is that the local pension funds nearly neglected net purchase of all other 2,400+ stocks in Korea.
NPS and local pension funds may have less room to overly support LG Energy Solution and other Korean stocks in February. 


NPS Exclusively Buying LG Energy Solution At the Expense of Other 2,400+ Stocks in Korea

<ul>
<li>In this insight, we discuss the end of the mandatory lock-up periods for 44 stocks in Korea in February 2022. 
</li>
<li>Among these 44 stocks, 8 stocks are in KOSPI and 36 stocks are in KOSDAQ.</li>
<li>These 44 stocks could be subject to further selling pressures in February and could on average underperform relative to the market. </li>
</ul>


In this insight, we discuss the end of the mandatory lock-up periods for 44 stocks in Korea in February 2022. 

Among these 44 stocks, 8 stocks are in KOSPI and 36 stocks are in KOSDAQ.
These 44 stocks could be subject to further selling pressures in February and could on average underperform relative to the market. 


End of Mandatory Lock-Up Periods for 44 Stocks in Korea in February 2022

South Korea

Krafton, Inc. operates as a game development company. The Company develops console games, mobile games, computer games, and other related products. Krafton markets its products throughout South Korea.

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Krafton (259960 KS)

ECM Weekly (13th Feb 2022) -Krafton, Huitongda, GogoX, Lepu, Adani Wilmar, Vedant, Mitsubishi Estate

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Krafton IPO Lock-Up Expiry - Few IPO Shares, More from Pre-IPO Investors

Krafton Inc (259960 KS) raised about US$3.8bn in its South Korea IPO and its six month lock-up expires on 10th February.

Sumeet Singh

KRX K-New Deal Index Screening Period Ended: Rebalancing Changes & Passive Impacts Update

The KRX K-New Deal Index's screening period ended last Friday. This post updates the screening results and passive impacts.

Sanghyun Park

NPS Exclusively Buying LG Energy Solution At the Expense of Other 2,400+ Stocks in Korea

In this insight, we discuss the details of how the local pension funds strongly supported LG Energy Solution IPO's stock price on January 27th and...

Douglas Kim

End of Mandatory Lock-Up Periods for 44 Stocks in Korea in February 2022

In this insight, we discuss the end of the mandatory lock-up periods for 44 stocks in Korea in February 2022. These 44 stocks could be subject to...

Douglas Kim

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