APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

Minieye Technology / Equity Capital Markets

Minieye Technology (Minieye) is an intelligent driving and cabin solutions provider in China, offering solutions for critical aspects of the driving experience, including piloting, parking and in-cabin functions.

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<a href="https://www.smartkarma.com/entities/minieye-technology" target="_blank" data-smartkarma-citation="entities:43661:1" rel="noopener">Minieye Technology (1426169D CH)</a> is looking to raise US$150m in its upcoming Hong Kong IPO. The bookrunners on the deal are Citic Securities and CICC.</li>
<li>Minieye Technology (Minieye) is an intelligent driving and cabin solutions provider in China, offering solutions for critical aspects of the driving experience, including piloting, parking and in-cabin functions.</li>
<li>Providing Level 0-Level 2++ intelligent driving solutions that are full-stack in-house developed and proven by mass production, the firm has also been developing advanced Level 4 autonomous driving technologies.</li>
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Minieye Technology (1426169D CH) is looking to raise US$150m in its upcoming Hong Kong IPO. The bookrunners on the deal are Citic Securities and CICC.
Minieye Technology (Minieye) is an intelligent driving and cabin solutions provider in China, offering solutions for critical aspects of the driving experience, including piloting, parking and in-cabin functions.
Providing Level 0-Level 2++ intelligent driving solutions that are full-stack in-house developed and proven by mass production, the firm has also been developing advanced Level 4 autonomous driving technologies.


Telix Pharmaceuticals / Equity Capital Markets

Telix Pharmaceuticals Limited operates as a biotechnology company. The Company develops and commercializes molecularly-targeted radiation therapy for the treatment of prostate, renal, and brain cancer. Telix Pharmaceuticals serves patients worldwide.

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<a href="https://www.smartkarma.com/entities/telix-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:26052:1" rel="noopener">Telix Pharmaceuticals (TLX AU)</a> aims to raise at least US$100m in its US ADS listing. The bookrunners on the deal are Jefferies, Morgan Stanley, Truist Securities, and William Blair.</li>
<li>TLX is a commercial-stage biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals. </li>
<li>In this note, we talk about the deal dynamics and the listing impact.</li>
</ul>



Telix Pharmaceuticals (TLX AU) aims to raise at least US$100m in its US ADS listing. The bookrunners on the deal are Jefferies, Morgan Stanley, Truist Securities, and William Blair.
TLX is a commercial-stage biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals. 
In this note, we talk about the deal dynamics and the listing impact.


Telix Pharmaceutical US ADS - Past Deal Record Hasn't Been Strong, but Fortune Could Be Turning

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<a href="https://www.smartkarma.com/entities/quantumpharm-inc" target="_blank" data-smartkarma-citation="entities:40369:1" rel="noopener">QuantumPharm (QUP HK)</a> is looking to raise US$144m from its Hong Kong IPO.</li>
<li>QuantumPharm is a R&amp;D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions.</li>
<li>In our previous notes, we looked at the firm’s past performance and PHIP updates. In this note, we share our thoughts on valuations. </li>
</ul>



QuantumPharm (QUP HK) is looking to raise US$144m from its Hong Kong IPO.
QuantumPharm is a R&amp;D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions.
In our previous notes, we looked at the firm’s past performance and PHIP updates. In this note, we share our thoughts on valuations. 


QuantumPharm IPO - Most of the Potential Has Already Been Baked In

SAKURA internet Inc. provides comprehensive Internet service to businesses. The Company operates a data center and leases space to store clients' servers and network equipment.  Sakura Internet also offers web hosting and Internet connectivity services.

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<a href="https://www.smartkarma.com/entities/sakura-internet-inc" target="_blank" data-smartkarma-citation="entities:12605:1" rel="noopener">Sakura internet (3778 JP)</a> is looking to raise US$127m from its primary follow-on. Proceeds will be used towards purchasing GPU servers, and constructing new data center facilities.</li>
<li>While 11% of total shares outstanding are offered here, the deal would be easily digested by the market, representing just 0.8 days of its three month ADV.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Sakura internet (3778 JP) is looking to raise US$127m from its primary follow-on. Proceeds will be used towards purchasing GPU servers, and constructing new data center facilities.
While 11% of total shares outstanding are offered here, the deal would be easily digested by the market, representing just 0.8 days of its three month ADV.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Sakura Internet Placement - Beneficiary of the AI-Wave Looking to Double Down

Bloks Groups (Bloks) operates in the toy segment where it primarily assembles character toys.

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<a href="https://www.smartkarma.com/entities/bloks-group" target="_blank" data-smartkarma-citation="entities:43648:1" rel="noopener">Bloks Group (1850960D CH)</a> is looking to raise US$300m in its upcoming Hong Kong IPO. The bookrunners on the deal are Goldman Sachs, and Huatai International.</li>
<li>Bloks Groups (Bloks) operates in the toy segment where it primarily assembles character toys. Its portfolio contains both self-developed and renowned licensed intellectual property (IPs).</li>
<li>According to F&amp;S, Bloks was China’s largest player in the assembly character toy segment with an approximate gross merchandise value (GMV) of RMB1.8bn in 2023.</li>
</ul>



Bloks Group (1850960D CH) is looking to raise US$300m in its upcoming Hong Kong IPO. The bookrunners on the deal are Goldman Sachs, and Huatai International.
Bloks Groups (Bloks) operates in the toy segment where it primarily assembles character toys. Its portfolio contains both self-developed and renowned licensed intellectual property (IPs).
According to F&amp;S, Bloks was China’s largest player in the assembly character toy segment with an approximate gross merchandise value (GMV) of RMB1.8bn in 2023.


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%.