APAC IPOs & Placements, Aequitas Research

Clarence Chu

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 group of shareholders are looking to raise around US$1.36bn from selling ~5% stake in <a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a>.</li>
<li>We have covered the background of the deal in our earlier note, <a href="https://www.smartkarma.com/insights/terumo-placement-us-1-4bn-secondary-selldown-buyback-should-aid-deal-dynamics" target="_blank" data-smartkarma-citation="insights:157275" rel="noopener">Terumo Placement - US$1.4bn Secondary Selldown, Buyback Should Aid Deal Dynamics</a>.</li>
<li>In this note, we talk about the updates since and look at the performance of some of the past large Japan deals.</li>
</ul>


A group of shareholders are looking to raise around US$1.36bn from selling ~5% stake in Terumo Corp (4543 JP).
We have covered the background of the deal in our earlier note, Terumo Placement - US$1.4bn Secondary Selldown, Buyback Should Aid Deal Dynamics.
In this note, we talk about the updates since and look at the performance of some of the past large Japan deals.


Terumo Placement Follow-Up - Correction Has Been Inline with Recent Cross-Shareholding Unwind

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Midea Group Co Ltd A / 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, we looked at <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> and <a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a>, which are two relatively large listings coming up. </li>
<li>Placement were flowing through again this week, across the region.</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, we looked at Midea Group Co Ltd A (000333 CH) and Bajaj Housing Finance (BHF IN), which are two relatively large listings coming up. 
Placement were flowing through again this week, across the region.


ECM Weekly (9th Sep 2024) - Midea, Bajaj Housing, Carote, Western Digital, Challenger, CICT, Premier

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> premarketing its H Share listing, <a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> placement and <a href="https://www.smartkarma.com/entities/99-speed-mart-retail-holdings" target="_blank" data-smartkarma-citation="entities:40977:1" rel="noopener">99 Speed Mart Retail Holdings (99SPD MK)</a> IPO.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>, <a href="https://www.smartkarma.com/entities/pasco-corp" target="_blank" data-smartkarma-citation="entities:7273:1" rel="noopener">Pasco Corp (9232 JP)</a>, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/xingda-international-holdings" target="_blank" data-smartkarma-citation="entities:17836:1" rel="noopener">Xingda International (1899 HK)</a>, <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a>, <a href="https://www.smartkarma.com/entities/psc-insurance-group-ltd" target="_blank" data-smartkarma-citation="entities:24266:1" rel="noopener">Psc Insurance (PSI AU)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: Midea Group Co Ltd A (000333 CH) premarketing its H Share listing, Terumo Corp (4543 JP) placement and 99 Speed Mart Retail Holdings (99SPD MK) IPO.
Event-Driven developments: Fuji Soft Inc (9749 JP), Pasco Corp (9232 JP), Seven &amp; I Holdings (3382 JP), Xingda International (1899 HK), CPMC Holdings (906 HK), Psc Insurance (PSI AU). 


Weekly Deals Digest (08 Sep) - Midea, Fuji Soft, Pasco, Seven & I, Xingda, CPMC, PSC, Rex, Latin Res

<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, we looked at <a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (6600 JP)</a>, <a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> and <a href="https://www.smartkarma.com/entities/niva-bupa-health-insurance" target="_blank" data-smartkarma-citation="entities:43716:1" rel="noopener">Niva Bupa Health</a> along with <a href="https://www.smartkarma.com/entities/premier-energies-limited" target="_blank" data-smartkarma-citation="entities:42190:1" rel="noopener">Premier Energies</a>.</li>
<li>Placement were flowing through again this week, mainly across India and Japan.</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, we looked at Kioxia Holdings (6600 JP), Bajaj Housing Finance (BHF IN) and Niva Bupa Health along with Premier Energies.
Placement were flowing through again this week, mainly across India and Japan.


ECM Weekly (2nd Sep 2024) - Midea, Terumo, Indigo, KIT, Kioxia, Bajaj Housing, Niva Bupa, Premier

Hamamatsu Photonics Kk / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> aims to raise around US$190m via selling over a 4% stake in <a href="https://www.smartkarma.com/entities/hamamatsu-photonics-kk" target="_blank" data-smartkarma-citation="entities:14074:1" rel="noopener">Hamamatsu Photonics Kk (6965 JP)</a>.</li>
<li>This is another cross-shareholding unwind and hence, won’t be a huge surprise. Although given the recent share price weakness, the timing appears peculiar.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>



Toyota Motor (7203 JP) aims to raise around US$190m via selling over a 4% stake in Hamamatsu Photonics Kk (6965 JP).
This is another cross-shareholding unwind and hence, won’t be a huge surprise. Although given the recent share price weakness, the timing appears peculiar.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Hamamatsu Photonics Placement - Peculiar Timing

Japan

TERUMO CORPORATION is a manufacturer and supplier of pharmaceuticals and medical tools and equipment.  The Company's products include health foods, transfusion and infusion equipment, disposable medical supply, clinical testing systems, artificial organs, and electronic thermometers.  Terumo markets the products through its subsidiaries and sales offices in the US, Europe, and Asia.

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Terumo Corp (4543 JP)

Terumo Placement Follow-Up - Correction Has Been Inline with Recent Cross-Shareholding Unwind

A group of shareholders are looking to raise around US$1.36bn from selling ~5% stake in Terumo Corp (4543 JP). In this note, we look at the...

Clarence Chu

ECM Weekly (9th Sep 2024) - Midea, Bajaj Housing, Carote, Western Digital, Challenger, CICT, Premier

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

Weekly Deals Digest (08 Sep) - Midea, Fuji Soft, Pasco, Seven & I, Xingda, CPMC, PSC, Rex, Latin Res

Last week, notable developments occurred in Event-Driven (Fuji Soft, Pasco, Seven & I, Xingda, CPMC, PSC, Rex Minerals, Latin Resources) and ECM...

Arun George

ECM Weekly (2nd Sep 2024) - Midea, Terumo, Indigo, KIT, Kioxia, Bajaj Housing, Niva Bupa, Premier

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

Hamamatsu Photonics Placement - Peculiar Timing

Toyota Motor (7203 JP) aims to raise around US$190m via selling over a 4% stake in Hamamatsu Photonics Kk (6965 JP). The timing of the selldown...

Sumeet Singh

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