APAC IPOs & Placements, Aequitas Research

Troy Wong

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>Bama Tea (BT) is looking to raise at least US$100m in its upcoming Hong Kong IPO.</li>
<li>BT mainly grew through franchising. Its broad portfolio boosts market reach. A shift to online sales and stable tea prices may improve gross margins.</li>
<li>BT needs capital for expansion but faces challenges: a fragmented, slow-growing industry, declining franchise earnings, weak 9M24 tea-leaf sales, supplier/customer concentration, and this being BT’s fourth attempt at going public.</li>
</ul>


Bama Tea (BT) is looking to raise at least US$100m in its upcoming Hong Kong IPO.
BT mainly grew through franchising. Its broad portfolio boosts market reach. A shift to online sales and stable tea prices may improve gross margins.
BT needs capital for expansion but faces challenges: a fragmented, slow-growing industry, declining franchise earnings, weak 9M24 tea-leaf sales, supplier/customer concentration, and this being BT’s fourth attempt at going public.


Bama Tea Pre-IPO - Fourth Attempt to Go Public