In today’s briefing:
- Aequitas 2025 Asia IPO Pipeline – Japan and South Korea
- Anthem Biosciences Limited Pre-IPO Tearsheet
- Dongbang Medical IPO Preview
- Freetech Zhejiang Intelligent Technology Pre-IPO

Aequitas 2025 Asia IPO Pipeline – Japan and South Korea
- In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan & Korea after having looked at HK & India.
- This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
- The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.
Anthem Biosciences Limited Pre-IPO Tearsheet
- Anthem Biosciences (1234D IN) is looking to raise up to US$397m in its upcoming India IPO. The deal will be run by JMF, Citi, JP Morgan and Nomura.
- It is a Contract Research, Development, and Manufacturing Organization (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
- As a one-stop service provider, ABS serves a range of customers, including innovator-focused emerging biotech companies and large pharmaceutical organizations globally.
Dongbang Medical IPO Preview
- Dongbang Medical is getting ready to complete its IPO in Korea in February 2025. The IPO price range is from 9,000 won to 10,500 won.
- According to the bankers’ valuation, the expected market cap of the comps ranges from 191 billion won to 223 billion won.
- Dongbang Medical specializes in the manufacturing and distribution of acupuncture needles, various cosmetic devices, and other medical devices.
Freetech Zhejiang Intelligent Technology Pre-IPO
- Freetech Intelligent Systems (1901036D CH) is looking to raise up to US$200m in its upcoming Hong Kong IPO.
- The firm is a leading intelligent driving solutions provider, covering advanced assistance system (ADAS) and autonomous driving system (ADS) technologies.
- In this note, we look at the firm’s past performance.
