In today’s briefing:
- ABC Mart Extends Lead in Japan’s Footwear Market as Competitors Contract
- Kitazato (368A JP): Greenshoe Nudges It Closer to Global Index Inclusion, but Shortfall Remains
- ECM Weekly (16 June 2025) – Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi
ABC Mart Extends Lead in Japan’s Footwear Market as Competitors Contract
- The footwear retail sector is a one horse race, with that horse being ABC Mart.
- It continues to grow at a respectable rate while increasingly diminutive rivals contract.
- ABC Mart is expanding further into the apparel category too, providing more room for future growth.
Kitazato (368A JP): Greenshoe Nudges It Closer to Global Index Inclusion, but Shortfall Remains
- Kitazato (368A JP) is forecasted to fail the market cap and float cap threshold of Global-F SmallCap even with the full exercise of the greenshoe.
- Kitazato (368A JP) is expected to come close but miss the float cap threshold of Global-M SmallCap.
- The full exercise of the greenshoe increases the probability of inclusion in Global-M SmallCap at the November 2025 review.
ECM Weekly (16 June 2025) – Haitian, Sanhua, Kitazato, Primo, Kioxia, Xtalpi, Horizon, Keymed, Wuxi
- 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, Foshan Haitian Flavouring & Food (603288 CH) launched its IPO, while Zhejiang Sanhua Intellignt Controls Co., Ltd. (002050 CH) has been pre-marketing.
- On the placements front, there were a number of large deals acros the region, along with some large lockup expiries.
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