APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

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<li>
<a href="https://www.smartkarma.com/entities/sakura-internet-inc" target="_blank" data-smartkarma-citation="entities:12605:1" rel="noopener">Sakura internet (3778 JP)</a> is looking to raise US$127m from its primary follow-on. Proceeds will be used towards purchasing GPU servers, and constructing new data center facilities.</li>
<li>While 11% of total shares outstanding are offered here, the deal would be easily digested by the market, representing just 0.8 days of its three month ADV.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Sakura internet (3778 JP) is looking to raise US$127m from its primary follow-on. Proceeds will be used towards purchasing GPU servers, and constructing new data center facilities.
While 11% of total shares outstanding are offered here, the deal would be easily digested by the market, representing just 0.8 days of its three month ADV.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Sakura Internet Placement - Beneficiary of the AI-Wave Looking to Double Down

Japan Specialist

Mark Chadwick

Equity Bottom-Up

<ul>
<li>The share price of Sakura Internet has risen by over 500%, adding Y230 billion in market cap, since investors began pricing in the AI opportunity</li>
<li>We use pricing data from Amazon AWS to model the revenue opportunity for Sakura’s GPU AI-cloud</li>
<li>We estimate that 2,500 H100 GPUs could yield an equity value of Y49 billion, far less than the value the market has ascribed</li>
</ul>


The share price of Sakura Internet has risen by over 500%, adding Y230 billion in market cap, since investors began pricing in the AI opportunity
We use pricing data from Amazon AWS to model the revenue opportunity for Sakura’s GPU AI-cloud
We estimate that 2,500 H100 GPUs could yield an equity value of Y49 billion, far less than the value the market has ascribed


Sakura Internet (3778) | Estimating the Value of 2,500 GPUs

Japan

SAKURA internet Inc. provides comprehensive Internet service to businesses. The Company operates a data center and leases space to store clients' servers and network equipment.  Sakura Internet also offers web hosting and Internet connectivity services.

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Sakura internet (3778 JP)

Sakura Internet Placement - Beneficiary of the AI-Wave Looking to Double Down

Sakura internet (3778 JP) is looking to raise US$127m from its public follow-on. Proceeds will be used towards purchasing GPU servers, and...

Clarence Chu

Sakura Internet (3778) | Estimating the Value of 2,500 GPUs

Sakura Internet's share price soars over 500% on AI opportunity, but revenue potential for GPU AI-cloud falls short of market valuation.

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sakura Internet Placement - Beneficiary of the AI-Wave Looking to Double Down

Sakura internet (3778 JP) is looking to raise US$127m from its public follow-on. Proceeds will be used towards purchasing GPU servers, and...

Clarence Chu

Sakura Internet (3778) | Estimating the Value of 2,500 GPUs

​Sakura Internet's share price soars over 500% on AI opportunity, but revenue potential for GPU AI-cloud falls short of market valuation.

Mark Chadwick

Sakura Internet's share price soars over 500% on AI opportunity, but revenue potential for GPU AI-cloud falls short of market valuation.