ECM Weekly (7 Apr 2025) - CATL, Maynilad, Chagee, Lotte Logistics, Sigenergy, Duality, Wuxi XDC
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.
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Hyphens Pharma Initiation - Decent Fundamentals, Weak Valuations
We initiate rated coverage on Hyphens with a TP of S$0.365, pegged to 9.5x FY25E P/E, representing an upside of approximately 28.1%.
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Hong Kong Buybacks Weekly (Apr 4th): Tencent, China Hongqiao, Kuaishou
We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...
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Asia: Look for Economies with Headroom for Policy Support
Trade war threatens Asian economies' export-driven growth, necessitating monetary/fiscal stimuli. CN, KR, TH have room for both, India for...
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Wuxi XDC Placement - Following Biologics Playbook, past Deals Have Been Mixed
WuXi AppTec (2359 HK) aims to raise around US$250m via selling around 3.5% stake in WuXi XDC Cayman (2268 HK). In this note, we talk about the deal...
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