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/megaport-ltd" target="_blank" data-smartkarma-citation="entities:24310:1" rel="noopener">Megaport Ltd (MP1 AU)</a> is looking to raise around US$131m via a fully underwritten primary placement.</li>
<li>The company will use the proceeds to fund the acquisition of Latitude.sh and accelerate its network expansion into India.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>



Megaport Ltd (MP1 AU) is looking to raise around US$131m via a fully underwritten primary placement.
The company will use the proceeds to fund the acquisition of Latitude.sh and accelerate its network expansion into India.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Megaport Placement - Equity Raise Positioned for Scale and Global Expansion

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, all markets were in full throttle mode going into the year end.</li>
<li>On the placements front, there were a number of deals across the region.</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, all markets were in full throttle mode going into the year end.
On the placements front, there were a number of deals across the region.


ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

RPMGlobal Holdings Limited / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rpmglobal-holdings-limited" target="_blank" data-smartkarma-citation="entities:16492:1" rel="noopener">RPMGlobal Holdings Limited (RUL AU)</a> entered a scheme implementation deed with <a href="https://www.smartkarma.com/entities/caterpillar-inc" target="_blank" data-smartkarma-citation="entities:697:1" rel="noopener">Caterpillar Inc (CAT US)</a> at A$5.00 per share, a 32.6% premium to the undisturbed price.</li>
<li>The key scheme conditions are RPM shareholder, FIRB and ACCC approval. RPM’s benign shareholder structure facilitates completion.</li>
<li>The offer is attractive. At the last close and for an 18 February 2026 payment, the gross/annualised spread is 2.7%/7.8%.  </li>
</ul>



RPMGlobal Holdings Limited (RUL AU) entered a scheme implementation deed with Caterpillar Inc (CAT US) at A$5.00 per share, a 32.6% premium to the undisturbed price.
The key scheme conditions are RPM shareholder, FIRB and ACCC approval. RPM’s benign shareholder structure facilitates completion.
The offer is attractive. At the last close and for an 18 February 2026 payment, the gross/annualised spread is 2.7%/7.8%.  


RPMGlobal (RUL AU): Caterpillar’s Binding Proposal at A$5.00

<ul>
<li>The <a href="https://www.afr.com/street-talk/us-heavy-equipment-giant-caterpillar-lobs-bid-for-rpmglobal-20250829-p5mqv2" target="_blank" rel="noopener">AFR reports</a> that <a href="https://www.smartkarma.com/entities/caterpillar-inc" target="_blank" data-smartkarma-citation="entities:697:1" rel="noopener">Caterpillar Inc (CAT US)</a> and four other bidders are considering a privatisation bid for <a href="https://www.smartkarma.com/entities/rpmglobal-holdings-limited" target="_blank" data-smartkarma-citation="entities:16492:1" rel="noopener">RPMGlobal Holdings Limited (RUL AU)</a> at around A$5.00 per share.</li>
<li>In response to the article, RPM entered a trading halt the same day regarding <em>“an indicative proposal from a third party regarding a potential acquisition.</em>”  </li>
<li>RPM’s shareholder structure facilitates an offer. The rumoured offer is reasonable but is far from a knockout bid, suggesting the potential of a bidding war.  </li>
</ul>


The AFR reports that Caterpillar Inc (CAT US) and four other bidders are considering a privatisation bid for RPMGlobal Holdings Limited (RUL AU) at around A$5.00 per share.
In response to the article, RPM entered a trading halt the same day regarding “an indicative proposal from a third party regarding a potential acquisition.”  
RPM’s shareholder structure facilitates an offer. The rumoured offer is reasonable but is far from a knockout bid, suggesting the potential of a bidding war.  


RPMGlobal (RUL AU): Caterpillar Mulling a Privatisation Bid

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>In today's edition: -Ask FNArena -Review All-Weather Model Portfolio -Recent Updates On Expert Views -Best Buys & Conviction Calls</li></ul>

In today's edition: -Ask FNArena -Review All-Weather Model Portfolio -Recent Updates On Expert Views -Best Buys & Conviction Calls

Rudi's View: Bega Cheese, Cettire, Harvey Norman, Sigma, SiteMinder & More

Australia

Megaport Limited operates as a software-based elastic connectivity provider. The Company develops an elastic connectivity platform that provides customers interconnectivity and flexibility between other networks and cloud providers connected to the platform. Megaport serves customers worldwide.

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Megaport Ltd (MP1 AU)

Megaport Placement - Equity Raise Positioned for Scale and Global Expansion

Megaport Limited (ML) is looking to raise around US$131m via a fully underwritten primary placement to partly fund its acquisition of Latitude.sh....

Akshat Shah

ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

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

RPMGlobal (RUL AU): Caterpillar’s Binding Proposal at A$5.00

The offer is attractive. At the last close and for an 18 February 2026 payment, the gross/annualised spread is 2.7%/7.8%.

Arun George

RPMGlobal (RUL AU): Caterpillar Mulling a Privatisation Bid

Caterpillar and four other bidders are considering a privatisation bid. The rumoured offer is reasonable but is far from a knockout bid, suggesting...

Arun George

Rudi's View: Bega Cheese, Cettire, Harvey Norman, Sigma, SiteMinder & More

In today's edition: -Ask FNArena -Review All-Weather Model Portfolio -Recent Updates On Expert Views -Best Buys & Conviction Calls

FNArena

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