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

Orkla India Ltd. / Equity Capital Markets

<ul>
<li>Orkla India Ltd. (OI) is looking to raise about US$300mn in its upcoming India IPO. The deal will be run by ICICI, Citi, JPM, and Kotak.</li>
<li>It’s a multi-category Indian food company offering a diverse range of products that cater to every meal occasion, from breakfast and lunch to dinner, snacks and beverages and desserts.</li>
<li>OI was one of the top four companies in terms of revenue from operations among select leading species and convenience foods peers in FY24, as per Technopak Report.</li>
</ul>


Orkla India Ltd. (OI) is looking to raise about US$300mn in its upcoming India IPO. The deal will be run by ICICI, Citi, JPM, and Kotak.
It’s a multi-category Indian food company offering a diverse range of products that cater to every meal occasion, from breakfast and lunch to dinner, snacks and beverages and desserts.
OI was one of the top four companies in terms of revenue from operations among select leading species and convenience foods peers in FY24, as per Technopak Report.


<ul>
<li>FS.COM Limited (FS) is looking to raise at least US$100m in its upcoming Hong Kong IPO.</li>
<li>FS presents a compelling growth story rooted in structural demand for enterprise-grade networking and a differentiated DTC model that delivers both scale and customer proximity.</li>
<li>Its dominant SKU breadth, global Fortune 500 penetration, and aggressive shift toward high-performance solutions support sustained revenue expansion.</li>
</ul>


FS.COM Limited (FS) is looking to raise at least US$100m in its upcoming Hong Kong IPO.
FS presents a compelling growth story rooted in structural demand for enterprise-grade networking and a differentiated DTC model that delivers both scale and customer proximity.
Its dominant SKU breadth, global Fortune 500 penetration, and aggressive shift toward high-performance solutions support sustained revenue expansion.


FS.COM Limited Pre-IPO - Positioned to Capture Structural Demand in Networking

<ul>
<li>Loob Berhad (LB) is looking to raise about US$150m in its upcoming Malaysia IPO. The deal will be run by Maybank and AmInvestment bank.</li>
<li>It’s the largest brand owner by number of stores in the F&amp;B industry in Malaysia, as per the IMR Report. LB has two core brands, namely Tealive and Bask Bear.</li>
<li>Mainly operates directly-owned stores, with 979 Tealive stores (547 corporate stores, 400 franchised stores, and 5 licensed stores) and 135 Bask Bear stores (129 corporate stores and 6 licensed stores).</li>
</ul>


Loob Berhad (LB) is looking to raise about US$150m in its upcoming Malaysia IPO. The deal will be run by Maybank and AmInvestment bank.
It’s the largest brand owner by number of stores in the F&amp;B industry in Malaysia, as per the IMR Report. LB has two core brands, namely Tealive and Bask Bear.
Mainly operates directly-owned stores, with 979 Tealive stores (547 corporate stores, 400 franchised stores, and 5 licensed stores) and 135 Bask Bear stores (129 corporate stores and 6 licensed stores).


Hann Holdings, Inc. / Equity Capital Markets

<ul>
<li>Hann Holdings, Inc. is looking to raise about US$232mn in its upcoming Philippines IPO. The deal will be run by BDO, CLSA, China Bank, PNB Cap, and Asia United Bank.</li>
<li>It operates the leading integrated gaming, hospitality, and luxury resort business in Clark, Philippines, with the highest market share (47.3%) in Clark’s land-based casino market.</li>
<li>It owns and operates two of the only three five-star hotels in Central Luzon: Clark Marriott Hotel and Swissôtel Clark Philippines.</li>
</ul>


Hann Holdings, Inc. is looking to raise about US$232mn in its upcoming Philippines IPO. The deal will be run by BDO, CLSA, China Bank, PNB Cap, and Asia United Bank.
It operates the leading integrated gaming, hospitality, and luxury resort business in Clark, Philippines, with the highest market share (47.3%) in Clark’s land-based casino market.
It owns and operates two of the only three five-star hotels in Central Luzon: Clark Marriott Hotel and Swissôtel Clark Philippines.


Liuliu Orchard Group / Equity Capital Markets

<ul>
<li>Liuliu Orchard Group Co Ltd (LOGCL) is planning to raise about US$100m in its upcoming Hong Kong IPO.</li>
<li>LOGCL is China’s leading plum-based snack player, benefiting from strong consumer demand, brand leadership, and favorable health trends.</li>
<li>Despite operating in a fragmented market, LOGCL has consistently grown revenue through successful offline expansion, increased direct sales penetration, and effective cost control even amid raw material cost pressures.</li>
</ul>


Liuliu Orchard Group Co Ltd (LOGCL) is planning to raise about US$100m in its upcoming Hong Kong IPO.
LOGCL is China’s leading plum-based snack player, benefiting from strong consumer demand, brand leadership, and favorable health trends.
Despite operating in a fragmented market, LOGCL has consistently grown revenue through successful offline expansion, increased direct sales penetration, and effective cost control even amid raw material cost pressures.


Liuliu Orchard Group Co Ltd Pre-IPO - Category Leader Scaling Direct Channels in Fragmented Market

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%.

Troy Wong
APAC IPOs & Placements
• Aequitas Research

Orkla India Ltd. Pre-IPO Tearsheet

Orkla India Ltd. plans to raise $300mn in India IPO with top banks leading the deal, offering diverse food products and ranking among top revenue...

Troy Wong

FS.COM Limited Pre-IPO - Positioned to Capture Structural Demand in Networking

FS.COM Limited plans to raise over US$100m in Hong Kong IPO, driven by strong demand for enterprise networking and a unique direct-to-customer model.

Troy Wong

Loob Berhad Pre-IPO Tearsheet

Loob Berhad plans to raise $150m in Malaysia IPO, largest F&B brand owner in Malaysia with Tealive and Bask Bear as core brands, operates nearly...

Troy Wong

Hann Holdings, Inc. Pre-IPO Tearsheet

Hann Holdings, Inc. plans to raise $232mn in IPO for leading gaming and hospitality business in Clark, Philippines, with top market share in land...

Troy Wong

Liuliu Orchard Group Co Ltd Pre-IPO - Category Leader Scaling Direct Channels in Fragmented Market

China's leading plum-based snack company, Liuliu Orchard Group Co Ltd, plans to raise $100m in Hong Kong IPO, benefiting from strong consumer...

Troy Wong

Orkla India Ltd. Pre-IPO Tearsheet

​Orkla India Ltd. plans to raise $300mn in India IPO with top banks leading the deal, offering diverse food products and ranking among top revenue...

Troy Wong

FS.COM Limited Pre-IPO - Positioned to Capture Structural Demand in Networking

​FS.COM Limited plans to raise over US$100m in Hong Kong IPO, driven by strong demand for enterprise networking and a unique direct-to-customer model.

Troy Wong

Loob Berhad Pre-IPO Tearsheet

​Loob Berhad plans to raise $150m in Malaysia IPO, largest F&B brand owner in Malaysia with Tealive and Bask Bear as core brands, operates nearly...

Troy Wong

Hann Holdings, Inc. Pre-IPO Tearsheet

​Hann Holdings, Inc. plans to raise $232mn in IPO for leading gaming and hospitality business in Clark, Philippines, with top market share in land...

Troy Wong

Liuliu Orchard Group Co Ltd Pre-IPO - Category Leader Scaling Direct Channels in Fragmented Market

​China's leading plum-based snack company, Liuliu Orchard Group Co Ltd, plans to raise $100m in Hong Kong IPO, benefiting from strong consumer...

Troy Wong

Orkla India Ltd. plans to raise $300mn in India IPO with top banks leading the deal, offering diverse food products and ranking among top revenue...

FS.COM Limited plans to raise over US$100m in Hong Kong IPO, driven by strong demand for enterprise networking and a unique direct-to-customer model.

Loob Berhad plans to raise $150m in Malaysia IPO, largest F&B brand owner in Malaysia with Tealive and Bask Bear as core brands, operates nearly...

Hann Holdings, Inc. plans to raise $232mn in IPO for leading gaming and hospitality business in Clark, Philippines, with top market share in land...

China's leading plum-based snack company, Liuliu Orchard Group Co Ltd, plans to raise $100m in Hong Kong IPO, benefiting from strong consumer...