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

Shenton Research

Shenton 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 analyzed the changes in short interest of TWSE Stocks as of Aug 7th. The aggregated short interest was USD43.7bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Shin Kong Financial, ASE Industrial, Jentech Precision Industrial, Powerchip Semiconductor Manufacturing, King Yuan Electronics.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 7th. The aggregated short interest was USD43.7bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Shin Kong Financial, ASE Industrial, Jentech Precision Industrial, Powerchip Semiconductor Manufacturing, King Yuan Electronics.


TWSE Short Interest Weekly (Aug 7th): Shin Kong Financial, ASE Industrial, King Yuan Electronics

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" data-smartkarma-citation="entities:6779:1" rel="noopener">Bizlink Holding (3665 TT)</a> is looking to raise up to US$315m in its upcoming GDRs offering. The firm is also looking to raise another US$500m via convertible bonds.</li>
<li>Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Bizlink Holding (3665 TT) is looking to raise up to US$315m in its upcoming GDRs offering. The firm is also looking to raise another US$500m via convertible bonds.
Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Aequitas: BizLink Holding Inc Offering - Well Flagged US$815 GDR+CB Combo; Rebound in Stock Momentum

Ezconn Corporation / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ezconn-corporation" target="_blank" data-smartkarma-citation="entities:2441:1" rel="noopener">Ezconn Corporation (6442 TT)</a> is looking to raise up to US$190m in its upcoming global depository receipts (GDRs) offering.</li>
<li>In June 2026, Ezconn announced its board’s resolution to issue between 4-5m common shares via a GDR offering, with proceeds to be used to purchase overseas raw materials.</li>
<li>Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Ezconn Corporation (6442 TT) is looking to raise up to US$190m in its upcoming global depository receipts (GDRs) offering.
In June 2026, Ezconn announced its board’s resolution to issue between 4-5m common shares via a GDR offering, with proceeds to be used to purchase overseas raw materials.
Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: Ezconn Corporation GDR Early Look - Smaller Deal After a Large Share Price Correction

<ul>
<li>We analysed the earning revision of component stocks of MS-Taiwan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on TSMC, Formosa Chemicals &amp; Fibre, UMC, Evergreen Marine, Nan Ya Plastics, Formosa Plastics.</li>
</ul>


We analysed the earning revision of component stocks of MS-Taiwan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on TSMC, Formosa Chemicals &amp; Fibre, UMC, Evergreen Marine, Nan Ya Plastics, Formosa Plastics.


MS-Taiwan Index Earning Revision (Jul): TSMC, Formosa Chemicals & Fibre, UMC, Evergreen Marine

<ul>
<li>
<a href="https://www.smartkarma.com/entities/quanta-computer-inc" target="_blank" data-smartkarma-citation="entities:2754:1" rel="noopener">Quanta Computer (2382 TT)</a> is looking to raise up to US$2.2bn, selling 245m shares (49m GDRs) via a GDR offering. Proceeds will be used to procure raw materials overseas.</li>
<li>Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Quanta Computer (2382 TT) is looking to raise up to US$2.2bn, selling 245m shares (49m GDRs) via a GDR offering. Proceeds will be used to procure raw materials overseas.
Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Aequitas: Quanta Computer GDR - Well Flagged US$2.2bn GDR Offering; Shares Have Traded Down Recently

Taiwan

Taiwan Cement Corporation manufactures and markets cement.  The Company's products include Portland cement, high strength cement, oil well cement, and sludge treatment agents.  Through its subsidiaries, the Company also operates in transportation, construction, and information products businesses.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Taiwan Cement (1101 TT)

TWSE Short Interest Weekly (Aug 7th): Shin Kong Financial, ASE Industrial, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial (2888 TT), ASE Industrial...

Ke Yan, CFA, FRM

Aequitas: BizLink Holding Inc Offering - Well Flagged US$815 GDR+CB Combo; Rebound in Stock Momentum

BizLink Holding Inc is looking to raise up to US$315m in its upcoming global depository receipts (GDRs) offering. The firm is also looking to raise...

Akshat Shah

MS-Taiwan Index Earning Revision (Jul): TSMC, Formosa Chemicals & Fibre, UMC, Evergreen Marine

We analyzed MS-Taiwan's consensus for Jul 2026 and highlighted changes of EPS in TSMC, Formosa Chemicals & Fibre, UMC, Evergreen Marine, Nan Ya...

Ke Yan, CFA, FRM

Aequitas: Quanta Computer GDR - Well Flagged US$2.2bn GDR Offering; Shares Have Traded Down Recently

Quanta Computer (2382.TT) is looking to raise up to US$2.2bn, selling 245m shares (49m GDRs) via a GDR offering. In this note, we run the deal...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Short Interest Weekly (Aug 7th): Shin Kong Financial, ASE Industrial, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial (2888 TT), ASE Industrial...

Ke Yan, CFA, FRM

Aequitas: BizLink Holding Inc Offering - Well Flagged US$815 GDR+CB Combo; Rebound in Stock Momentum

BizLink Holding Inc is looking to raise up to US$315m in its upcoming global depository receipts (GDRs) offering. The firm is also looking to raise...

Akshat Shah

Aequitas: Ezconn Corporation GDR Early Look - Smaller Deal After a Large Share Price Correction

Ezconn Corporation (6422.TT) is looking to raise up to US$190m in its upcoming global depository receipts (GDRs) offering.

Akshat Shah

MS-Taiwan Index Earning Revision (Jul): TSMC, Formosa Chemicals & Fibre, UMC, Evergreen Marine

We analyzed MS-Taiwan's consensus for Jul 2026 and highlighted changes of EPS in TSMC, Formosa Chemicals & Fibre, UMC, Evergreen Marine, Nan Ya...

Ke Yan, CFA, FRM

Aequitas: Quanta Computer GDR - Well Flagged US$2.2bn GDR Offering; Shares Have Traded Down Recently

Quanta Computer (2382.TT) is looking to raise up to US$2.2bn, selling 245m shares (49m GDRs) via a GDR offering. In this note, we run the deal...

Akshat Shah