ECM Weekly (3 November 2025)-Sany, Seres, CIG, PonyAI, WeRide, Mininglamp, Lenskart, Groww, Softcare
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.
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Sany Heavy Industry (6031 HK): What to Do Now After the IPO?
Sany Heavy Industry's strong IPO performance and consistent earnings trend are still unable to justify its current valuation. It is not cheap on...
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WeRide Secondary HK Offering - Has Been Trading Up, Given the Valuation Gap
WeRide (WRD US) plans to raise around US$325m in its secondary listing in Hong Kong. In this note we talk about the deal structure and pricing.
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Seres Group H Share Listing (9927 HK): Valuation Insights
Seres Group has launched an H Share listing to raise US$1.7 billion. The proposed AH discount of 24.8% implied by the H Share offer price is...
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Weekly Deals Digest (26 Oct) - Digital Holdings, Soft99, Joy City, Minmetals, Sany, Seres, Pony AI
A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...
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