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

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>Nancy Pelosi has left Taiwan but the confrontation between China and Taiwan has stepped up to another level.</li>
<li>In the past two days, there have been numerous news flow about an emerging naval/arial blockade of Taiwan by the Chinese military. </li>
<li>An intermittent/prolonged blockade of Taiwan by China could lead to some of the biggest global investors that may reduce their exposures in Taiwan. </li>
</ul>


Nancy Pelosi has left Taiwan but the confrontation between China and Taiwan has stepped up to another level.
In the past two days, there have been numerous news flow about an emerging naval/arial blockade of Taiwan by the Chinese military. 
An intermittent/prolonged blockade of Taiwan by China could lead to some of the biggest global investors that may reduce their exposures in Taiwan. 


JFK's Naval Blockade of Cuba (1962) - Fast Forward 60 Years & A Blockade of Taiwan by China?

<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

<ul>
<li>In this insight, we discuss about the major Taiwanese players in the electronics supply chain that could be impacted by the the slowing demand for consumer electronics, especially in China.</li>
<li>When TSMC's Chairman mentions that the demand for consumer electronics is slowing down, especially in China, this is a time for a pause and really ponder on this.</li>
<li>We believe that there is an increasing risk of the average sales growth of the 13 major Taiwanese tech/consumer electronics stocks being lowered further in the coming months.</li>
</ul>


In this insight, we discuss about the major Taiwanese players in the electronics supply chain that could be impacted by the the slowing demand for consumer electronics, especially in China.
When TSMC's Chairman mentions that the demand for consumer electronics is slowing down, especially in China, this is a time for a pause and really ponder on this.
We believe that there is an increasing risk of the average sales growth of the 13 major Taiwanese tech/consumer electronics stocks being lowered further in the coming months.


Major Taiwanese Players in the Electronics Supply Chain: Slowing Demand for Consumer Electronics

Taiwan

Taiwan Semiconductor Co., Ltd. designs, manufactures, and distributes rectifiers, thermal bar code printers, and color photo printers.

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Taiwan Semiconductor Co (5425 TT)

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

JFK's Naval Blockade of Cuba (1962) - Fast Forward 60 Years & A Blockade of Taiwan by China?

Nancy Pelosi has left Taiwan but the confrontation between China and Taiwan has stepped up to another level including an emerging naval/arial...

Douglas Kim

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

Major Taiwanese Players in the Electronics Supply Chain: Slowing Demand for Consumer Electronics

In this insight, we discuss about the major Taiwanese players in the electronics supply chain that could be impacted by the the slowing demand for...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

JFK's Naval Blockade of Cuba (1962) - Fast Forward 60 Years & A Blockade of Taiwan by China?

Nancy Pelosi has left Taiwan but the confrontation between China and Taiwan has stepped up to another level including an emerging naval/arial...

Douglas Kim

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

Major Taiwanese Players in the Electronics Supply Chain: Slowing Demand for Consumer Electronics

In this insight, we discuss about the major Taiwanese players in the electronics supply chain that could be impacted by the the slowing demand for...

Douglas Kim