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

Zenergy Battery Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-zenergy-battery-technologies-group-co-ltd" target="_blank" data-smartkarma-citation="entities:43855:1" rel="noopener">Jiangsu Zenergy Battery Technologies Group(3677 HK)</a> raised US$130m from its HK IPO in April'25. The lockup on its controlling shareholders, pre-IPO investors and other shareholders is set to expire soon.</li>
<li>Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Jiangsu Zenergy Battery Technologies Group(3677 HK) raised US$130m from its HK IPO in April'25. The lockup on its controlling shareholders, pre-IPO investors and other shareholders is set to expire soon.
Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas:Zenergy Battery Technologies IPO Lockup-US$2.7bn Lockup Release but Stock Back to IPO Level

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-zenergy-battery-technologies" target="_blank" data-smartkarma-citation="entities:43855:1" rel="noopener">Jiangsu Zenergy Battery Technologies (JSZENERGY CH)</a> raised US$130m in its Hong Kong IPO.</li>
<li>Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Jiangsu Zenergy Battery Technologies (JSZENERGY CH) raised US$130m in its Hong Kong IPO.
Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Jiangsu Zenergy Battery Technologies IPO Trading - Muted Overall Demand, No Stabilisation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-zenergy-battery-technologies" target="_blank" data-smartkarma-citation="entities:43855:1" rel="noopener">Jiangsu Zenergy Battery Technologies (JSZENERGY CH)</a>  is looking to raise US$130m in its Hong Kong IPO.</li>
<li>Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.</li>
<li>In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.</li>
</ul>



Jiangsu Zenergy Battery Technologies (JSZENERGY CH)  is looking to raise US$130m in its Hong Kong IPO.
Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.
In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.


Jiangsu Zenergy Battery Technologies IPO - PHIP Updates & Quick Thoughts on Peer Comp and Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-zenergy-battery-technologies" target="_blank" data-smartkarma-citation="entities:43855:1" rel="noopener">Jiangsu Zenergy Battery Technologies (JSZENERGY CH)</a> (Zenergy) is looking to raise up to US$300m in its upcoming HK IPO.</li>
<li>Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Jiangsu Zenergy Battery Technologies (JSZENERGY CH) (Zenergy) is looking to raise up to US$300m in its upcoming HK IPO.
Zenergy is an EV and energy storage system battery manufacturer providing integrated battery solutions, encompassing battery cells, modules, packs and battery management systems dedicated to large-scale applications of electrochemical products.
In this note, we talk about the positive aspects of the deal.


Jiangsu Zenergy Battery Technologies Pre- IPO - The Positives - Brisk Volume-Led Growth

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Expect True Wind to walk away rather than raising their price further for <a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a>. They'd need to pay ¥5,500-5,800 to dislodge a large chunk. And they won't.</li>
<li>
<a href="https://www.smartkarma.com/entities/amorepacific-group" target="_blank" data-smartkarma-citation="entities:12179:1" rel="noopener">Amorepacific Group (002790 KS)</a> plumbs new discount lows as <a href="https://www.smartkarma.com/entities/amorepacific-corp" target="_blank" data-smartkarma-citation="entities:20854:1" rel="noopener">Amorepacific Corp (090430 KS) </a> gets a boost from Amazon Prime Day.</li>
<li>
<a href="https://www.smartkarma.com/entities/canon-marketing-japan-inc" target="_blank" data-smartkarma-citation="entities:3866:1" rel="noopener">Canon Marketing Japan (8060 JP)</a> is still significantly under-levered. That means the stock price will generically not be that volatile. That generally means one should buy dips and sell pops.</li>
</ul>


Expect True Wind to walk away rather than raising their price further for Sun Corp (6736 JP). They'd need to pay ¥5,500-5,800 to dislodge a large chunk. And they won't.

Amorepacific Group (002790 KS) plumbs new discount lows as Amorepacific Corp (090430 KS)  gets a boost from Amazon Prime Day.

Canon Marketing Japan (8060 JP) is still significantly under-levered. That means the stock price will generically not be that volatile. That generally means one should buy dips and sell pops.


Last Week in Event SPACE: Sun Corp, Amorepacific, Canon Marketing, Jeisys Medical

Germany

SoftwareONE Holding AG provides IT services. The Company offers cloud computing, portfolio management, procurement, unified communication, and other related solutions. SoftwareONE Holding serves customers worldwide.

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SoftwareONE Holding (SWON SW)

Aequitas:Zenergy Battery Technologies IPO Lockup-US$2.7bn Lockup Release but Stock Back to IPO Level

Jiangsu Zenergy Battery Technologies raised about US$130m from its HK IPO in April 2025. The lockup on its controlling shareholders, pre-IPO...

Akshat Shah

Jiangsu Zenergy Battery Technologies IPO Trading - Muted Overall Demand, No Stabilisation

Jiangsu Zenergy Battery Technologies (Zenergy) raised US$130m in its Hong Kong IPO. In this note, we will talk about the demand and trading dynamics.

Akshat Shah

Jiangsu Zenergy Battery Technologies IPO - PHIP Updates & Quick Thoughts on Peer Comp and Valuation

Jiangsu Zenergy Battery Technologies is looking to raise US$130m in its Hong Kong IPO. In this note, we talk about the PHIP updates, peer comp and...

Akshat Shah

Jiangsu Zenergy Battery Technologies Pre- IPO - The Positives - Brisk Volume-Led Growth

Jiangsu Zenergy Battery Technologies is looking to raise up to US$300m in its upcoming HK IPO. In this note, we talk about the positive aspects of...

Akshat Shah

Last Week in Event SPACE: Sun Corp, Amorepacific, Canon Marketing, Jeisys Medical

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

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