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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 28th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Ping An, Brilliance China, Meituan, AIA.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 28th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Ping An, Brilliance China, Meituan, AIA.


HK Short Interest Weekly: Ping An, Brilliance, Meituan, AIA

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shift-up-corp" target="_blank" data-smartkarma-citation="entities:36232:1" rel="noopener">Shift Up (462870 KS)</a> raised around US$320m in its South Korean IPO, after pricing at the top.</li>
<li>Shift Up is a South Korean games developer, which as released three games so far for the global markets.</li>
<li>We have looked at the company’s performance and valuation in our earlier notes. In this note, we talk about the trading dynamics.</li>
</ul>



Shift Up (462870 KS) raised around US$320m in its South Korean IPO, after pricing at the top.
Shift Up is a South Korean games developer, which as released three games so far for the global markets.
We have looked at the company’s performance and valuation in our earlier notes. In this note, we talk about the trading dynamics.


Shift Up IPO Trading - Strong Demand for Quality Asset but It Has Slipped Out of the Top Games

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>3690 HK:Kuaigou Dache (ride hailing) Lowers Commission Rate for Drivers in Tianjin to 10% (-)</li>
<li>TCOM US:Ctrip Introduces Family Card, Allowing Users to Book Trips for Their Elderly Parents (+)</li>
<li>700 HK: &lt;Honor of Kings&gt; to Launch Ranked System Optimization: Points for Wins and Losses (+)</li>
</ul>


3690 HK:Kuaigou Dache (ride hailing) Lowers Commission Rate for Drivers in Tianjin to 10% (-)
TCOM US:Ctrip Introduces Family Card, Allowing Users to Book Trips for Their Elderly Parents (+)
700 HK: &lt;Honor of Kings&gt; to Launch Ranked System Optimization: Points for Wins and Losses (+)


[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/700 HK/JD US/BABA US/PDD US/1519HK/ZTOUS/NTESUS/BILIUS

Event-Driven

<ul>
<li>KKR raised around US$730m via selling some stake in <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a> Japan IPO in Sep 2023. Its remaining stake will be released from its IPO linked lockup soon.</li>
<li>KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>


KKR raised around US$730m via selling some stake in Kokusai Electric (6525 JP) Japan IPO in Sep 2023. Its remaining stake will be released from its IPO linked lockup soon.
KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kelun-biotech" target="_blank" data-smartkarma-citation="entities:36801:1" rel="noopener">Kelun Biotech</a> (KB) raised around US$170m in its IPO in July 2023, the lockup on its pre-IPO shareholders is set to expire soon.</li>
<li>KB is a China-based integrated innovative biopharmaceutical company. It has accumulated more than ten years of experience in antibody drug conjugates (ADC) development.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Kelun Biotech (KB) raised around US$170m in its IPO in July 2023, the lockup on its pre-IPO shareholders is set to expire soon.
KB is a China-based integrated innovative biopharmaceutical company. It has accumulated more than ten years of experience in antibody drug conjugates (ADC) development.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Kelun-Biotech IPO Lock-Up Expiry - Strong Performance Leaves Pre-IPO Investors with Large Gains

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tencent (700 HK)

HK Short Interest Weekly: Ping An, Brilliance, Meituan, AIA

We analyzed the latest HK SFC report for aggregate short position as of Jun 28th and highlight short interest changes in Ping An, Tracker Fund,...

Ke Yan, CFA, FRM

Shift Up IPO Trading - Strong Demand for Quality Asset but It Has Slipped Out of the Top Games

Shift Up (462870 KS) raised around US$320m in its South Korean IPO, after pricing at the top. In this note, we talk about the trading dynamics.

Sumeet Singh

[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/700 HK/JD US/BABA US/PDD US/1519HK/ZTOUS/NTESUS/BILIUS

Kuaigou Dache lowers commission rate for drivers, Ctrip introduces Family Card for booking trips for elderly parents, Honor of Kings to launch...

Blue Lotus Research Institute

Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

As per media reports, KKR is considering sell half its stake in Kokusai, with the company planning to buyback some shares as well. The company has...

Sumeet Singh

Kelun-Biotech IPO Lock-Up Expiry - Strong Performance Leaves Pre-IPO Investors with Large Gains

Kelun Biotech (KB) raised around US$170m in its IPO in July 2023, the lockup on its pre-IPO shareholders is set to expire soon.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Short Interest Weekly: Ping An, Brilliance, Meituan, AIA

We analyzed the latest HK SFC report for aggregate short position as of Jun 28th and highlight short interest changes in Ping An, Tracker Fund,...

Ke Yan, CFA, FRM

Shift Up IPO Trading - Strong Demand for Quality Asset but It Has Slipped Out of the Top Games

Shift Up (462870 KS) raised around US$320m in its South Korean IPO, after pricing at the top. In this note, we talk about the trading dynamics.

Sumeet Singh

[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/700 HK/JD US/BABA US/PDD US/1519HK/ZTOUS/NTESUS/BILIUS

​Kuaigou Dache lowers commission rate for drivers, Ctrip introduces Family Card for booking trips for elderly parents, Honor of Kings to launch...

Blue Lotus Research Institute

Kokusai Electric IPO Lock-Up - KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait

As per media reports, KKR is considering sell half its stake in Kokusai, with the company planning to buyback some shares as well. The company has...

Sumeet Singh

Kelun-Biotech IPO Lock-Up Expiry - Strong Performance Leaves Pre-IPO Investors with Large Gains

Kelun Biotech (KB) raised around US$170m in its IPO in July 2023, the lockup on its pre-IPO shareholders is set to expire soon.

Sumeet Singh

Kuaigou Dache lowers commission rate for drivers, Ctrip introduces Family Card for booking trips for elderly parents, Honor of Kings to launch...