APAC IPOs & Placements, Aequitas Research

Akshat Shah

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxnet-corp" target="_blank" data-smartkarma-citation="entities:3293:1" rel="noopener">Luxnet Corp (4979 TT)</a> is looking to raise up to US$158m in its upcoming global depository receipts (GDRs) offering.</li>
<li>On 22nd July 2026, LuxNet announced that it had received its board’s approval to sell around 6-8m common shares via a GDR offering.</li>
<li>Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Luxnet Corp (4979 TT) is looking to raise up to US$158m in its upcoming global depository receipts (GDRs) offering.
On 22nd July 2026, LuxNet announced that it had received its board’s approval to sell around 6-8m common shares via a GDR offering.
Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: LuxNet GDR Early Look - Smallest Offering in the GDR Pipeline This Year

AP Memory Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ap-memory-technology-corporation" target="_blank" data-smartkarma-citation="entities:35694:1" rel="noopener">AP Memory Technology (6531 TT)</a>  is raising around US$422m, selling 14.8m shares via a GDR offering. Proceeds will be used to procure raw materials overseas and fund working capital.</li>
<li>Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



AP Memory Technology (6531 TT)  is raising around US$422m, selling 14.8m shares via a GDR offering. Proceeds will be used to procure raw materials overseas and fund working capital.
Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Aequitas: AP Memory Technology GDR Offering - Well Flagged US$422m GDR

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>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.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/shenzhen-longsys-electronics-co-ltd-9ad6ee79-c403-4819-a5df-de95777ae2a7" target="_blank" data-smartkarma-citation="entities:55525:1" rel="noopener">Shenzhen Longsys Electronics (9976 HK)</a> didn't do much at listing and had one of the lowest institutional coverage ratios yet for large A/H listings.</li>
<li>On the placement front, the week wasn't as busy but we did look at a few deals and upcoming lockups.</li>
</ul>


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.
On the IPO front, Shenzhen Longsys Electronics (9976 HK) didn't do much at listing and had one of the lowest institutional coverage ratios yet for large A/H listings.
On the placement front, the week wasn't as busy but we did look at a few deals and upcoming lockups.


Aequitas ECM Weekly (14 September 2026)-Longsys, GCash, NSE, Ligent, Kingwong, Elice, Hosin, Z.AI

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wistron-corp" target="_blank" data-smartkarma-citation="entities:2189:1" rel="noopener">Wistron Corp (3231 TT)</a> is raising around US$1.5bn, selling 250m shares via a GDR offering. Proceeds will be used to procure raw materials overseas.</li>
<li>Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Wistron Corp (3231 TT) is raising around US$1.5bn, selling 250m shares via a GDR offering. Proceeds will be used to procure raw materials overseas.
Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Aequitas: Wistron Corp GDR - Another Well Flagged US$1.5bn GDR, Similar to Its Previous Offering

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ap-memory-technology-corporation" target="_blank" data-smartkarma-citation="entities:35694:1" rel="noopener">AP Memory Technology (6531 TT, APMT)</a> is looking to raise up to US$453m in its upcoming global depository receipts (GDRs) offering.</li>
<li>On 24th July 2026, APMT announced that it had received its board’s approval to sell around 15m common shares via a GDR offering.</li>
<li>Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



AP Memory Technology (6531 TT, APMT) is looking to raise up to US$453m in its upcoming global depository receipts (GDRs) offering.
On 24th July 2026, APMT announced that it had received its board’s approval to sell around 15m common shares via a GDR offering.
Similar to previous GDR listings, the deal is a long drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: AP Memory Technology GDR Early Look - US$450m Offering, Slightly Smaller Than Recent Deals

Taiwan

Luxnet Corporation designs, develops and manufactures optical semiconductor devices with in-house epi-layer design. These products used in high speed voice video, data communication, storage and cable TV.

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Luxnet Corp (4979 TT)

Aequitas: LuxNet GDR Early Look - Smallest Offering in the GDR Pipeline This Year

LuxNet Corp (4979 TT) is looking to raise up to US$158m in its upcoming global depository receipts (GDRs) offering. As per the firm, proceeds will...

Akshat Shah

Aequitas: AP Memory Technology GDR Offering - Well Flagged US$422m GDR

AP Memory Technology Corporation (6531 TT) is raising around US$422m, selling 14.8m shares via a GDR offering. In this note, we run the deal...

Akshat Shah

Aequitas ECM Weekly (14 September 2026)-Longsys, GCash, NSE, Ligent, Kingwong, Elice, Hosin, Z.AI

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.

Sumeet Singh

Aequitas: Wistron Corp GDR - Another Well Flagged US$1.5bn GDR, Similar to Its Previous Offering

Wistron Corp (3231 TT) is raising around US$1.5bn, selling 250m shares via a GDR offering. In this note, we run the deal through our ECM framework...

Akshat Shah

Aequitas: AP Memory Technology GDR Early Look - US$450m Offering, Slightly Smaller Than Recent Deals

AP Memory Technology Corporation (6531 TT, APMT) is looking to raise up to US$453m in its upcoming global depository receipts (GDRs) offering.

Akshat Shah

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