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

INFRONEER Holdings  / Equity Capital Markets

<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, last week's Hong kong listings were a mixed bag.</li>
<li>On the placement front, given the holiday shorterened week there were only a few placements 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, last week's Hong kong listings were a mixed bag.
On the placement front, given the holiday shorterened week there were only a few placements across the region.


Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $141.50 on ACWI-US continue to hold.</li>
<li>We are not fighting the bullish trend with all the MSCI global indexes (MSCI ACWI, EAFE, ACWI ex-US, and EM) hitting multi-year highs, but we are monitoring potential concerns</li>
<li>The bulk of new buy ideas that we see continue to be within commodity Sectors (Energy, Materials, with Materials highlighted today) and defensives (Health Care, Telecomm, and Services highlighted today)</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $141.50 on ACWI-US continue to hold.
We are not fighting the bullish trend with all the MSCI global indexes (MSCI ACWI, EAFE, ACWI ex-US, and EM) hitting multi-year highs, but we are monitoring potential concerns
The bulk of new buy ideas that we see continue to be within commodity Sectors (Energy, Materials, with Materials highlighted today) and defensives (Health Care, Telecomm, and Services highlighted today)


Can Strength Continue for Korea, Taiwan, and EM?; Remain Overweight But Be Prepared for Volatility

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>India REIT aims for a $3.9 billion IPO valuation, showcasing growth in the APAC real estate market.</li><li>In Singapore, the Cecil Street office block is listed for $138 million, indicating market recovery.</li><li>ESR is entering India with a $100 million hyperscale data center project, enhancing its portfolio.</li></ul>

India REIT aims for a $3.9 billion IPO valuation, showcasing growth in the APAC real estate market.In Singapore, the Cecil Street office block is listed for $138 million, indicating market recovery.ESR is entering India with a $100 million hyperscale data center project, enhancing its portfolio.

Asia Real Estate Tracker (26-Feb-2026): India REIT aims for $3.9B IPO valuation, APAC news.

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

Woori Financial Group  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/posco-holdings-inc" target="_blank" data-smartkarma-citation="entities:208:1" rel="noopener">POSCO Holdings (005490 KS)</a> is looking to raise US$503m in a secondary sale of its shares in <a href="https://www.smartkarma.com/entities/woori-financial-group-inc" target="_blank" data-smartkarma-citation="entities:27995:1" rel="noopener">Woori Financial Group (316140 KS)</a>.</li>
<li>This is a long-awaited cleanup sale by <a href="https://www.smartkarma.com/entities/posco-holdings-inc" target="_blank" data-smartkarma-citation="entities:208:1" rel="noopener">POSCO Holdings (005490 KS)</a>.</li>
<li>In this note, we will run the deal through our ECM framework.</li>
</ul>



POSCO Holdings (005490 KS) is looking to raise US$503m in a secondary sale of its shares in Woori Financial Group (316140 KS).
This is a long-awaited cleanup sale by POSCO Holdings (005490 KS).
In this note, we will run the deal through our ECM framework.


Aequitas: Woori Financials Placement  - Long-Awaited Cleanup Sale by Posco

Global Materials | Industrials | Commodities

Rahul Jain

<ul>
<li>Precious and energy-transition metals lead as structural scarcity, central-bank demand, and electrification support gold, silver, copper, aluminium, zinc, and rare earths into 2026.</li>
<li>Bulks and hydrocarbons lag with weak China demand, oversupply, and compressed margins across iron ore, nickel, steel, coal, and crude, keeping the segment firmly underweight.</li>
<li>Top Asia exposures include Zijin, Korea Zinc, Hindustan Zinc, Vedanta, CMOC, JXAM, SMM, Mitsui, Jiangxi Copper, NALCO, Hongqiao, Hindalco, Shenghe, and CNRE.</li>
</ul>


Precious and energy-transition metals lead as structural scarcity, central-bank demand, and electrification support gold, silver, copper, aluminium, zinc, and rare earths into 2026.
Bulks and hydrocarbons lag with weak China demand, oversupply, and compressed margins across iron ore, nickel, steel, coal, and crude, keeping the segment firmly underweight.
Top Asia exposures include Zijin, Korea Zinc, Hindustan Zinc, Vedanta, CMOC, JXAM, SMM, Mitsui, Jiangxi Copper, NALCO, Hongqiao, Hindalco, Shenghe, and CNRE.


Asia Metals Outlook 2026: Scarcity Favours Gold, Copper, Aluminium

South Korea

POSCO manufactures various types of steel products.  The Company produces hot rolled steel, cold rolled steel, stainless steel, and other forms of steel. The products are mainly used for automobile, construction, and shipbuilding industries.

Price Gauge
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Posco ADR (PKX US)

Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

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

Can Strength Continue for Korea, Taiwan, and EM?; Remain Overweight But Be Prepared for Volatility

Can Strength Continue for Korea $EWY, Taiwan $EWT, and EM $EEM?; Remain Overweight But Be Prepared for Volatility. Bulk of new buy ideas continue...

Vermilion Research

Asia Real Estate Tracker (26-Feb-2026): India REIT aims for $3.9B IPO valuation, APAC news.

India REIT aims for a $3.9 billion IPO, while Singapore's market sees a $138 million office sale and Lendlease sells a 30% stake in PLQ Mall for...

Asia Real Estate Tracker

Aequitas: Woori Financials Placement - Long-Awaited Cleanup Sale by Posco

Posco is looking to raise US$503m in a secondary sale of its shares in Woori Financials. In this note, we will run the deal through our ECM framework.

Nicholas Tan

Asia Metals Outlook 2026: Scarcity Favours Gold, Copper, Aluminium

Precious and energy-transition metals set to outperform bulks and hydrocarbons through 2026, with top Asia exposures including Zijin, Korea Zinc,...

Rahul Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas ECM Weekly (5 October 2026)- Moore Threads, ASR, Adtek, ESWIN, Transsion, Infroneer, Woori

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

Can Strength Continue for Korea, Taiwan, and EM?; Remain Overweight But Be Prepared for Volatility

Can Strength Continue for Korea $EWY, Taiwan $EWT, and EM $EEM?; Remain Overweight But Be Prepared for Volatility. Bulk of new buy ideas continue...

Vermilion Research

Asia Real Estate Tracker (26-Feb-2026): India REIT aims for $3.9B IPO valuation, APAC news.

India REIT aims for a $3.9 billion IPO, while Singapore's market sees a $138 million office sale and Lendlease sells a 30% stake in PLQ Mall for...

Asia Real Estate Tracker

Aequitas: Woori Financials Placement - Long-Awaited Cleanup Sale by Posco

Posco is looking to raise US$503m in a secondary sale of its shares in Woori Financials. In this note, we will run the deal through our ECM framework.

Nicholas Tan

Asia Metals Outlook 2026: Scarcity Favours Gold, Copper, Aluminium

​Precious and energy-transition metals set to outperform bulks and hydrocarbons through 2026, with top Asia exposures including Zijin, Korea Zinc,...

Rahul Jain

Precious and energy-transition metals set to outperform bulks and hydrocarbons through 2026, with top Asia exposures including Zijin, Korea Zinc,...