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

LG CNS Co., Ltd. provides information technology services and solutions. The Company offers consulting, system integration, outsourcing, convergence, video solutions, conditional access systems, and interactive digital television solutions.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-cns-co-ltd" target="_blank" data-smartkarma-citation="entities:35945:1" rel="noopener">LG CNS (LGCNSZ KS)</a> is looking to raise around US$850m in its upcoming Korea IPO. </li>
<li>LG CNS is a South Korean information technology company. The firm primarily provides comprehensive digital transformation services and solutions backed AI, big data, and cloud.</li>
<li>In this note, we look at the firm’s past performance.</li>
</ul>



LG CNS (LGCNSZ KS) is looking to raise around US$850m in its upcoming Korea IPO. 
LG CNS is a South Korean information technology company. The firm primarily provides comprehensive digital transformation services and solutions backed AI, big data, and cloud.
In this note, we look at the firm’s past performance.


Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Equity Bottom-Up

Dogwood Therapeutics, Inc. operates as a development-stage biotechnology. The Company develops novel therapeutics and sodium channel blocker to treat moderate-to-severe chemotherapy induced neuropathic pain, cancer pain, and other pain indications. Dogwood Therapeutics serves patients in the United States.

<ul><li>On November 7, 2024, Dogwood Therapeutics, Inc. (DWTX) announced financial results for the third quarter of 2024 and provided a business update.</li><li>In October 2024, Dogwood was formed by the business combination of Virios Therapeutics and privately-held Wex Pharmaceuticals, Inc. The new company is focused on the advancement of three assets: Halneuron , for which interim results from a Phase 2b trial for the treatment of chemotherapy-induced neuropathic pain (CINP) are expected in the second half of 2025 IMC-1, which is a Phase 3-ready asset for the treatment of fibromyalgia and IMC-2, which is currently in development to treat Long COVID with results from a Phase 2 trial expected soon.</li><li>In connection with the combination, the company announced a $19.5 million debt financing that will be disbursed in two tranches: $16.5 million at closing and an additional $3 million in the first quarter of 2025.</li></ul>

On November 7, 2024, Dogwood Therapeutics, Inc. (DWTX) announced financial results for the third quarter of 2024 and provided a business update.In October 2024, Dogwood was formed by the business combination of Virios Therapeutics and privately-held Wex Pharmaceuticals, Inc. The new company is focused on the advancement of three assets: Halneuron , for which interim results from a Phase 2b trial for the treatment of chemotherapy-induced neuropathic pain (CINP) are expected in the second half of 2025 IMC-1, which is a Phase 3-ready asset for the treatment of fibromyalgia and IMC-2, which is currently in development to treat Long COVID with results from a Phase 2 trial expected soon.In connection with the combination, the company announced a $19.5 million debt financing that will be disbursed in two tranches: $16.5 million at closing and an additional $3 million in the first quarter of 2025.

DWTX: Phase 2 Long COVID Results Expected Soon 

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Tokyo Metro Co., Ltd. operates railway businesses. The Company conducts passenger rail transportation, urban design and lifestyle creation, real estate, and other projects. Tokyo Metro serves customers in Japan.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tokyo-metro-co-ltd" target="_blank" data-smartkarma-citation="entities:40930:1" rel="noopener">Tokyo Metro (9023 JP)</a>'s  shareholders aim to raise up to US$2.3bn in its Japan IPO.</li>
<li>Tokyo Metro (TKM) is one of the two metro network operators in the Tokyo region. It operates nine subway lines with a total of 180 stations.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we will undertake a peer comparison.</li>
</ul>



Tokyo Metro (9023 JP)'s  shareholders aim to raise up to US$2.3bn in its Japan IPO.
Tokyo Metro (TKM) is one of the two metro network operators in the Tokyo region. It operates nine subway lines with a total of 180 stations.
We have looked at the company’s past performance in our previous note. In this note, we will undertake a peer comparison.


Tokyo Metro IPO - Peer Comparison - Pre-COVID to 1Q25

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tokyo-metro" target="_blank" data-smartkarma-citation="entities:40930:1" rel="noopener">Tokyo Metro (TKYMETRO JP)</a>’s shareholders, the Japanese and Tokyo Metropolitan Governments, could look to raise up to US$2bn by selling half of their stake via an IPO.</li>
<li>Tokyo Metro is one of the two metro network operators in the Tokyo region. It operates nine subway lines.</li>
<li>In this note, we take an early look at the possible listing.</li>
</ul>



Tokyo Metro (TKYMETRO JP)’s shareholders, the Japanese and Tokyo Metropolitan Governments, could look to raise up to US$2bn by selling half of their stake via an IPO.
Tokyo Metro is one of the two metro network operators in the Tokyo region. It operates nine subway lines.
In this note, we take an early look at the possible listing.


Tokyo Metro IPO Early Look - Could Raise Around US$2bn While Still Recovering from COVID

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Ainos, Inc. is a diversified healthcare company. The Company engages in the discovery and development of novel biopharmaceuticals, technologically medical treatments, and consumer products, as well as provides treatments of neoplastic, viral, and autoimmune diseases. Ainos operates in the United States and Taiwan.

<ul><li>Veldona patent granted in Taiwan for treatment and prevention of coronavirus infection, securing 20 years of patent protection.</li><li>The invention patent covers the method and composition of a Veldona-based therapeutic approach to stimulate the immune system by dosing Veldona through sublingual and/or buccal administration to reduce the risk of symptomatic coronavirus infections.</li><li>Sublingual and/or buccal administration allows Veldona to be rapidly absorbed by the oral mucosa, enabling more effective treatment and better drug compliance. </li></ul>

Veldona patent granted in Taiwan for treatment and prevention of coronavirus infection, securing 20 years of patent protection.The invention patent covers the method and composition of a Veldona-based therapeutic approach to stimulate the immune system by dosing Veldona through sublingual and/or buccal administration to reduce the risk of symptomatic coronavirus infections.Sublingual and/or buccal administration allows Veldona to be rapidly absorbed by the oral mucosa, enabling more effective treatment and better drug compliance. 

Ainos, Inc. - Adding Coronavirus Treatment and Prevention to Veldona Patent Portfolio

On the impact of Coronavirus and COVID-19

Coronavirus
On the impact of Coronavirus and COVID-19

LG CNS Pre-IPO - Post-COVID Beneficiary

LG CNS (LGCNSZ KS) is looking to raise around US$850m in its upcoming Korea IPO. In this note, we look at the firm’s past performance.

Clarence Chu

DWTX: Phase 2 Long COVID Results Expected Soon

On November 7, 2024, Dogwood Therapeutics, Inc. (DWTX) announced financial results for the third quarter of 2024 and provided a business...

Zacks Small Cap Research

Tokyo Metro IPO - Peer Comparison - Pre-COVID to 1Q25

Tokyo Metro (9023 JP)'s shareholders aim to raise up to US$2.3bn in its Japan IPO. In this note, we undertake a peer comparison.

Sumeet Singh

Tokyo Metro IPO Early Look - Could Raise Around US$2bn While Still Recovering from COVID

The company has now officially filed to raise around US$2.3bn in its IPO next month, which will make it the largest IPO in Japan since 2018.

Sumeet Singh

Ainos, Inc. - Adding Coronavirus Treatment and Prevention to Veldona Patent Portfolio

Veldona patent granted in Taiwan for treatment and prevention of coronavirus infection, securing 20 years of patent protection.

Water Tower Research