Visional Inc IPO Trading Update - Good Demand, Small Upside Based on SOTP

Visional IPO Lock-Up - Shares Have Performed Well, a Small Lock-Up Expiry to Look At

Recruit Holdings Placement - Another Major Selldown But, This Time, with a Much Shorter Time Frame

Recruit Holding Placement: Pre-Pricing Risk-Reward Analysis

Recruit Holding Placement: Thoughts on Valuation, Past Placements, and Index Event

APAC IPOs & Placements

Zhen Zhou, Toh

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

<a href="https://www.smartkarma.com/entities/visional-inc" target="_blank" data-smartkarma-citation="entities:32977:1" rel="noopener">Visional Inc (4194 JP)</a>  is looking to raise up to US$609m in its Japan IPO.Visional Inc. is a human resources (HR) technology company based in Japan. The company operates BizReach, an online recruiting platform that helps to connect professional job seekers to direct employers and third-party recruiters. It also offers HRMOS, which is a cloud-based human capital management (HCM) platform.We like the company’s business but the high proportion of shareholders selling in the IPO coupled with large employee stock acquisition rights to be exercisable after a year will be an overhang on share price.In this note, we will look at Visional’s financials and operating data.

Visional Inc (4194 JP)  is looking to raise up to US$609m in its Japan IPO.Visional Inc. is a human resources (HR) technology company based in Japan. The company operates BizReach, an online recruiting platform that helps to connect professional job seekers to direct employers and third-party recruiters. It also offers HRMOS, which is a cloud-based human capital management (HCM) platform.We like the company’s business but the high proportion of shareholders selling in the IPO coupled with large employee stock acquisition rights to be exercisable after a year will be an overhang on share price.In this note, we will look at Visional’s financials and operating data.

Visional Inc IPO - Good Vision Muddled by Dilution and Selling Shareholders