APAC IPOs & Placements, Aequitas Research

Akshat Shah

At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. 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%.

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>Bain Capital (via BCPE Centur Investments) is looking to sell around a 8% stake in <a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> to raise up to US$225m via a secondary selldown.</li>
<li>According to Bloomberg, Bain had a 54.2% stake prior to the selldown. It acquired a 60.8% stake in 2022 for ~US$556m and pared down 6% in May 2025, raising ~US$160m.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


Bain Capital (via BCPE Centur Investments) is looking to sell around a 8% stake in Classys (214150 KS) to raise up to US$225m via a secondary selldown.
According to Bloomberg, Bain had a 54.2% stake prior to the selldown. It acquired a 60.8% stake in 2022 for ~US$556m and pared down 6% in May 2025, raising ~US$160m.
In this note, we will talk about the placement and run the deal through our ECM framework.


Aequitas: Classys Block - Very Well Flagged; the Last Deal Didn’t Do Particularly Well