APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

<ul>
<li>Some shareholders of <a href="https://www.smartkarma.com/entities/anycolor-inc" target="_blank" data-smartkarma-citation="entities:36618:1" rel="noopener">Anycolor (5032 JP)</a> are looking to raise US$151.5m via an International Only Follow-on offering. </li>
<li>The deal is a relatively small one to digest in terms of ADV, representing only 4 days of three-month ADV.  Although, it is still 10% of current mcap. </li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


Some shareholders of Anycolor (5032 JP) are looking to raise US$151.5m via an International Only Follow-on offering. 
The deal is a relatively small one to digest in terms of ADV, representing only 4 days of three-month ADV.  Although, it is still 10% of current mcap. 
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Anycolor Placement - First Placement Since Listing but Should Do Fine

<ul>
<li>
<a href="https://www.smartkarma.com/entities/oasis-corp-of-korea" target="_blank" data-smartkarma-citation="entities:36074:1" rel="noopener">OASIS Corp (1799513D KS)</a> is looking to raise up to US$166m in its upcoming Korea IPO. </li>
<li>Oasis Corporation is an early morning delivery service business that delivers fresh food to consumers. It runs an e-commerce platform named ‘Oasis Market’ as well as offline stores.</li>
<li>Oasis Corporation aims to boost its sales and presence by further improving on its omnichannel strategy. However, its explosive growth appears likely to have been driven by COVID-induced lockdown measures. </li>
</ul>



OASIS Corp (1799513D KS) is looking to raise up to US$166m in its upcoming Korea IPO. 
Oasis Corporation is an early morning delivery service business that delivers fresh food to consumers. It runs an e-commerce platform named ‘Oasis Market’ as well as offline stores.
Oasis Corporation aims to boost its sales and presence by further improving on its omnichannel strategy. However, its explosive growth appears likely to have been driven by COVID-induced lockdown measures. 


Oasis Corporation IPO - Sole Profitable Player but Maybe Not for Long

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>India's stock market dropped $386 billion after election results showed a narrower-than-expected lead for Modi</li>
<li>Intel's CEO introduced new AI products at Computex, challenging Nvidia's market dominance</li>
<li>Chinese companies rush to raise funds amid a stock market rebound, driven by investor optimism and future uncertainty</li>
</ul>


India's stock market dropped $386 billion after election results showed a narrower-than-expected lead for Modi
Intel's CEO introduced new AI products at Computex, challenging Nvidia's market dominance
Chinese companies rush to raise funds amid a stock market rebound, driven by investor optimism and future uncertainty


#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>NBS released (17 January) Dec and full year 2022 online retail sales data.</li><li>YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery in logistics and fulfilment capability in late Dec and frontloaded sales generated from the Spring Festival shopping festival due to the early Spring Festival in 2023.</li><li>But solid recovery in YoY growth trajectory likely takes time, in our view, echoed by the 4.7% YoY online retail sales growth during the first five days of the shopping festival (30 Dec 2022-3 Jan 2023; per Ministry of Commerce). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

NBS released (17 January) Dec and full year 2022 online retail sales data.YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery in logistics and fulfilment capability in late Dec and frontloaded sales generated from the Spring Festival shopping festival due to the early Spring Festival in 2023.But solid recovery in YoY growth trajectory likely takes time, in our view, echoed by the 4.7% YoY online retail sales growth during the first five days of the shopping festival (30 Dec 2022-3 Jan 2023; per Ministry of Commerce). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – December online retail sales recap

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>IQIYI aims to raise around US$500m via a follow-on ADS offering.</li>
<li>While the company hasn’t stated its use of proceeds, it will probably use most of it to redeem convertible notes</li>
<li>In this note, we will talk about the deal dynamics and  run the deal through our ECM framework.</li>
</ul>


IQIYI aims to raise around US$500m via a follow-on ADS offering.
While the company hasn’t stated its use of proceeds, it will probably use most of it to redeem convertible notes
In this note, we will talk about the deal dynamics and  run the deal through our ECM framework.


IQIYI Follow-On Offering - Might Be Expected but Its Track Record Is...

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (BABA US)

Anycolor Placement - First Placement Since Listing but Should Do Fine

Some shareholders of Anycolor (5032 JP) are looking to raise US$151.5m via an International Only Follow-on offering. We will talk about the deal...

Ethan Aw

Oasis Corporation IPO - Sole Profitable Player but Maybe Not for Long

OASIS Corp (1799513D KS) is looking to raise up to US$166m in its upcoming Korea IPO. Oasis Corporation is an early morning delivery service...

Ethan Aw

#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...

Nimish Maheshwari

China Internet – December online retail sales recap

YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery...

CMB International

IQIYI Follow-On Offering - Might Be Expected but Its Track Record Is...

iQIYI aims to raise around US$500m via a follow-on ADS offering. While the deal might be expected, the stock's longer term track record doesn't...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Anycolor Placement - First Placement Since Listing but Should Do Fine

Some shareholders of Anycolor (5032 JP) are looking to raise US$151.5m via an International Only Follow-on offering. We will talk about the deal...

Ethan Aw

Oasis Corporation IPO - Sole Profitable Player but Maybe Not for Long

OASIS Corp (1799513D KS) is looking to raise up to US$166m in its upcoming Korea IPO. Oasis Corporation is an early morning delivery service...

Ethan Aw

#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

​India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...

Nimish Maheshwari

China Internet – December online retail sales recap

YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery...

CMB International

IQIYI Follow-On Offering - Might Be Expected but Its Track Record Is...

iQIYI aims to raise around US$500m via a follow-on ADS offering. While the deal might be expected, the stock's longer term track record doesn't...

Sumeet Singh

India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...