Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Shanghai Biren Intelligent Technology / Equity Capital Markets

Shanghai Biren Intelligent Technology Co. Ltd. operates as a general smart chip design developer. The Company provides artificial intelligence training and inference, graphics rendering, high performance general purpose computing, and other services. Shanghai Biren Intelligent Technology conducts businesses in China.

Shanghai Biren Intelligent Technology (SBIT HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-biren-intelligent-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:39934:1" rel="noopener">Shanghai Biren Intelligent Technology</a>, a GPGPU chips and computing solutions provider, aims to raise around US$600m in its Hong Kong listing.</li>
<li>According to CIC, Biren was the first company in China to package dual AI computing dies using 2.5D chiplet technology and the first to support advanced interconnection specifications.</li>
<li>In this note, we look at the company’s past performance.</li>
</ul>



Shanghai Biren Intelligent Technology, a GPGPU chips and computing solutions provider, aims to raise around US$600m in its Hong Kong listing.
According to CIC, Biren was the first company in China to package dual AI computing dies using 2.5D chiplet technology and the first to support advanced interconnection specifications.
In this note, we look at the company’s past performance.


Shanghai Biren Technology Pre-IPO - Growing Rapidly, Sometimes

Hong Jie Seow

Independent Insight Provider

OneRobotics (Shenzhen) Co / Equity Capital Markets

OneRobotics operates as a provider of home-embedded AI robotic systems, focusing on building an integrated smart-home ecosystem centered on robotic products.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/onerobotics-shenzhen-co" target="_blank" data-smartkarma-citation="entities:46167:1" rel="noopener">OneRobotics (Shenzhen) Co (ONE HK)</a> is looking to raise US$231m in its upcoming Hong Kong IPO.</li>
<li>OneRobotics operates as a provider of home-embedded AI robotic systems, focusing on building an integrated smart-home ecosystem centered on robotic products.</li>
<li>In this note, we look at the company’s past performance and valuations.</li>
</ul>



OneRobotics (Shenzhen) Co (ONE HK) is looking to raise US$231m in its upcoming Hong Kong IPO.
OneRobotics operates as a provider of home-embedded AI robotic systems, focusing on building an integrated smart-home ecosystem centered on robotic products.
In this note, we look at the company’s past performance and valuations.


OneRobotics (Shenzhen) Co IPO: Strong Topline Momentum, but Japan Plays a Pivotal Role

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 19th. We estimate that they had an aggregated short interest worth USD2.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Intouch, Bangchak, Ngern Tid Lor, CP Foods, Gulf Energy Development, Gulf Energy Development, Cp Foods, Bangchak.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 19th. We estimate that they had an aggregated short interest worth USD2.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Intouch, Bangchak, Ngern Tid Lor, CP Foods, Gulf Energy Development, Gulf Energy Development, Cp Foods, Bangchak.


Thailand Short Interest Weekly (Dec 19th): Intouch, Bangchak, Ngern Tid Lor, CP Foods

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Dec 19th. The aggregated short interest is USD461m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Dec 19th. The aggregated short interest is USD461m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson.


Bursa Short Interest Weekly (Dec 19th): Guan Chong, VS Industry, Datasonic, Genting Malaysia, Yinson

SBI Shinsei Bank / Equity Capital Markets

SBI Shinsei Bank, Ltd. provides banking services including deposits, loans, and foreign exchange transaction, as well as investment trust service and issuance of long-term bonds.

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, HK IPOs continue to be launched into the year end.</li>
<li>On the placements front, there are a number of lockup expiries coming up over the next few weeks.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, HK IPOs continue to be launched into the year end.
On the placements front, there are a number of lockup expiries coming up over the next few weeks.


ECM Weekly (22 December 2025) - SBI Shinsei, ICICI AMC, Insilico, Forest Cabin Sanhua, IFBH, CaoCao