APAC IPOs & Placements, Aequitas Research

Nicholas Tan

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

Zijin Gold International / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zijin-gold" target="_blank" data-smartkarma-citation="entities:45448:1" rel="noopener">Zijin Gold (2579355D HK) </a>is looking to raise up to US$3.0bn in its upcoming Hong Kong IPO.</li>
<li>It is a global leading gold mining company formed by combining all of the gold mines of Zijin Mining, located outside of China. </li>
<li>We have looked at the company's past performance in our previous note. In this note, we will undertake a peer comparison.</li>
</ul>



Zijin Gold (2579355D HK) is looking to raise up to US$3.0bn in its upcoming Hong Kong IPO.
It is a global leading gold mining company formed by combining all of the gold mines of Zijin Mining, located outside of China. 
We have looked at the company's past performance in our previous note. In this note, we will undertake a peer comparison.


Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/anglo-american-plc-04f6cda9-c726-4c33-8544-c5046bc74b29" target="_blank" data-smartkarma-citation="entities:28603:1" rel="noopener"></a>Anglo American and Teck Resources merge in a $53 billion deal, creating the world’s fifth-largest copper producer with defensive scale.</li>
<li>The merger promises $800 million in annual cost synergies by the end of 4th year, but execution across multiple jurisdictions will remain a challenge.</li>
<li>Regulatory approval in Canada and key stakeholder positions, including Keevil and Elliott, will be pivotal to deal success.</li>
</ul>



Anglo American and Teck Resources merge in a $53 billion deal, creating the world’s fifth-largest copper producer with defensive scale.
The merger promises $800 million in annual cost synergies by the end of 4th year, but execution across multiple jurisdictions will remain a challenge.
Regulatory approval in Canada and key stakeholder positions, including Keevil and Elliott, will be pivotal to deal success.


Anglo-Teck Merger: Scaling Up to Fortify Copper Empire

Global Materials | Industrials | Commodities

Rahul Jain

Zijin Gold International / Equity Bottom-Up

<ul>
<li>Zijin Mining is spinning off its seven overseas gold mines into Zijin Gold International, creating a dedicated, pure-play gold producer and positioning it for a Hong Kong IPO.</li>
<li>The IPO proceeds will primarily fund mine upgrades and overseas M&amp;A, with a portion earmarked to reinforce the balance sheet and corporate flexibility.</li>
<li>With media reports suggesting a $3B+ IPO size and potential launch in September, coupled with gold rallying above $3,600/oz, investor appetite around the listing is notably heightened.</li>
</ul>


Zijin Mining is spinning off its seven overseas gold mines into Zijin Gold International, creating a dedicated, pure-play gold producer and positioning it for a Hong Kong IPO.
The IPO proceeds will primarily fund mine upgrades and overseas M&amp;A, with a portion earmarked to reinforce the balance sheet and corporate flexibility.
With media reports suggesting a $3B+ IPO size and potential launch in September, coupled with gold rallying above $3,600/oz, investor appetite around the listing is notably heightened.


Zijin Gold International – Creating a Global Pure-Play Gold Champion

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 few US$1bn+ IPOs are said to be looking to launch later this month, across regions.</li>
<li>On the placements front, deals continue to flow through as the market remains receptive. </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,  a few US$1bn+ IPOs are said to be looking to launch later this month, across regions.
On the placements front, deals continue to flow through as the market remains receptive. 


ECM Weekly (8 September 2025)- Metaplanet, Lifedrink, Koei, Hesai, Orion, Myungin, Hesai, Chery

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 5th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Alibaba, Ping An Insurance, Xiaomi, Tencent, Pop Mart Intl, Shandong Gold Mining, Horizon Robotics, ZTE, China Hongqiao, Kuaishou.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 5th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Ping An Insurance, Xiaomi, Tencent, Pop Mart Intl, Shandong Gold Mining, Horizon Robotics, ZTE, China Hongqiao, Kuaishou.


HK Connect Flows Weekly (Sep 5th): Alibaba, Ping An Insurance, Xiaomi, Tencent, Pop Mart Intl

China

Shandong Gold Mining is a Chinese company primarily engaged in the exploration, mining, processing, and sale of gold and gold products. It also deals with non-ferrous metals like silver, copper, lead, and zinc, and manufactures specialized equipment for gold mines. The company was incorporated in 2000 and is headquartered in Jinan, People's Republic of China.

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Shandong Gold Mining (1787 HK)

Zijin Gold Pre-IPO: Peer Comparison

Zijin Gold is looking to raise up to US$3.0bn in its upcoming Hong Kong IPO. We have looked at the company's past performance in our previous note....

Nicholas Tan

Anglo-Teck Merger: Scaling Up to Fortify Copper Empire

Anglo and Teck aim to unite in a $53 billion copper powerhouse, boosting scale, defending against rivals, while navigating regulatory and...

Mint Finance

Zijin Gold International – Creating a Global Pure-Play Gold Champion

Zijin Mining to spin off overseas gold mines into Zijin Gold International for Hong Kong IPO, with proceeds funding upgrades, M&A, and bolstering...

Rahul Jain

ECM Weekly (8 September 2025)- Metaplanet, Lifedrink, Koei, Hesai, Orion, Myungin, Hesai, Chery

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

HK Connect Flows Weekly (Sep 5th): Alibaba, Ping An Insurance, Xiaomi, Tencent, Pop Mart Intl

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba (9988 HK), Ping An Insurance (2318 HK), Xiaomi...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Zijin Gold Pre-IPO: Peer Comparison

Zijin Gold is looking to raise up to US$3.0bn in its upcoming Hong Kong IPO. We have looked at the company's past performance in our previous note....

Nicholas Tan

Anglo-Teck Merger: Scaling Up to Fortify Copper Empire

Anglo and Teck aim to unite in a $53 billion copper powerhouse, boosting scale, defending against rivals, while navigating regulatory and...

Mint Finance

Zijin Gold International – Creating a Global Pure-Play Gold Champion

​Zijin Mining to spin off overseas gold mines into Zijin Gold International for Hong Kong IPO, with proceeds funding upgrades, M&A, and bolstering...

Rahul Jain

ECM Weekly (8 September 2025)- Metaplanet, Lifedrink, Koei, Hesai, Orion, Myungin, Hesai, Chery

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

HK Connect Flows Weekly (Sep 5th): Alibaba, Ping An Insurance, Xiaomi, Tencent, Pop Mart Intl

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba (9988 HK), Ping An Insurance (2318 HK), Xiaomi...

Ke Yan, CFA, FRM

Zijin Mining to spin off overseas gold mines into Zijin Gold International for Hong Kong IPO, with proceeds funding upgrades, M&A, and bolstering...