APAC IPOs & Placements, Aequitas Research

Nicholas Tan

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

JST Group Pre-IPO: Premium to Peers but Potentially a Domestic “Shopify”

JST Group IPO Trading: Strong Insti and Retail Demand

JST Group Pre-IPO: PHIP Update: Inflecting into Profitability

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 href="https://www.smartkarma.com/entities/jst-group" target="_blank" data-smartkarma-citation="entities:39885:1" rel="noopener">JST Group (6687 HK)</a> raised US$270m from its Hong Kong IPO in October 2025 via a primary offering of HKD 30.60/share in its IPO. </li>
<li>It is China’s largest and most popular e-commerce SaaS ERP provider. </li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



JST Group (6687 HK) raised US$270m from its Hong Kong IPO in October 2025 via a primary offering of HKD 30.60/share in its IPO. 
It is China’s largest and most popular e-commerce SaaS ERP provider. 
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: JST IPO Lockup - Shares Have Traded Down but Still Above Prior Financing Round