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

<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, next week will see a large number of listings across the region.</li>
<li>On the placements front, given the HK and US holidays and approaching earnings season, there were only a few deals in the past week.</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, next week will see a large number of listings across the region.
On the placements front, given the HK and US holidays and approaching earnings season, there were only a few deals in the past week.


ECM Weekly (7 July 2025) - IFBH, HDB, Anjoy, FWD, Lens, Fortior, NTT DC, Daehan, Kanzhun, Nykaa, NH

APAC IPOs & Placements, Aequitas Research

Troy Wong

APAC IPOs & Placements

<ul>
<li>Shanghai Sunmi Technology Co., Ltd. (SSTC) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by DB, Citic, and ABCI.</li>
<li>SSTC is the largest Android-based BIoT solution provider in the world in terms of revenue in 2024, with a market share of over 10%, according to CIC.</li>
<li>The company mainly relies on offline channels as over 99% of total revenue was generated from offline channels over the Track Record Period.</li>
</ul>


Shanghai Sunmi Technology Co., Ltd. (SSTC) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by DB, Citic, and ABCI.
SSTC is the largest Android-based BIoT solution provider in the world in terms of revenue in 2024, with a market share of over 10%, according to CIC.
The company mainly relies on offline channels as over 99% of total revenue was generated from offline channels over the Track Record Period.


Shanghai Sunmi Technology Co., Ltd. Pre-IPO Tearsheet

China

SUNMI is a global Internet of Things (IoT) company that specializes in intelligent commercial hardware and integrated software solutions for businesses. They offer a range of Android-based IoT devices, including point-of-sale (POS) terminals, payment terminals, mobile terminals, desktop terminals, and kiosks, along with their proprietary SUNMI OS and cloud services. The company was founded in 2013 and is headquartered in Shanghai, China.

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SUNMI (6810 HK)

ECM Weekly (7 July 2025) - IFBH, HDB, Anjoy, FWD, Lens, Fortior, NTT DC, Daehan, Kanzhun, Nykaa, NH

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

Shanghai Sunmi Technology Co., Ltd. Pre-IPO Tearsheet

Shanghai Sunmi Technology Co., Ltd. plans to raise $100m in Hong Kong IPO, leading Android-based BIoT provider with over 10% market share in 2024,...

Troy Wong

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ECM Weekly (7 July 2025) - IFBH, HDB, Anjoy, FWD, Lens, Fortior, NTT DC, Daehan, Kanzhun, Nykaa, NH

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

Shanghai Sunmi Technology Co., Ltd. Pre-IPO Tearsheet

​Shanghai Sunmi Technology Co., Ltd. plans to raise $100m in Hong Kong IPO, leading Android-based BIoT provider with over 10% market share in 2024,...

Troy Wong

Shanghai Sunmi Technology Co., Ltd. plans to raise $100m in Hong Kong IPO, leading Android-based BIoT provider with over 10% market share in 2024,...