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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 13th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 13th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Kuaishou Technology (1024 HK).


Hong Kong Buybacks Weekly (Dec 13th): Tencent, AIA, Kuaishou Technology

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

IGI (India) Limited / Equity Capital Markets

<ul>
<li>International Gemmological Institute (India) Limited (IGII) is looking to raise about US$500m in its upcoming India IPO.</li>
<li>IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye.</li>
<li>In this note, we will look at the company’s past performance and talk about the IPO valuations.</li>
</ul>


International Gemmological Institute (India) Limited (IGII) is looking to raise about US$500m in its upcoming India IPO.
IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye.
In this note, we will look at the company’s past performance and talk about the IPO valuations.


IGI (India) IPO - Unique Exposure but Questionable Acquisition, and 4x Returns for PE in 18 Months

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

Inventurus Knowledge Solutions / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/inventurus-knowledge-solutions" target="_blank" data-smartkarma-citation="entities:43880:1" rel="noopener">Inventurus Knowledge Solutions (IKSINCD IN)</a> is looking to raise up to US$295m in its upcoming India IPO.</li>
<li>IKS is a technology-enabled healthcare solutions provider, assisting physician enterprises in US, Canada and Australia. It is a one-stop shop designed to handle physicians administrative tasks.</li>
<li>In this note, we look at the firm's past performance.</li>
</ul>



Inventurus Knowledge Solutions (IKSINCD IN) is looking to raise up to US$295m in its upcoming India IPO.
IKS is a technology-enabled healthcare solutions provider, assisting physician enterprises in US, Canada and Australia. It is a one-stop shop designed to handle physicians administrative tasks.
In this note, we look at the firm's past performance.


Inventurus Pre-IPO - Accelerating Growth with Major Aquity Acquisition

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rept-battero-energy" target="_blank" data-smartkarma-citation="entities:36626:1" rel="noopener">REPT BATTERO Energy</a> raised around US$270m in its Hong Kong IPO in Dec 2023. Its pre-IPO investors holding around US$1.2bn worth of shares will be released from their lockup soon.</li>
<li>REPT is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



REPT BATTERO Energy raised around US$270m in its Hong Kong IPO in Dec 2023. Its pre-IPO investors holding around US$1.2bn worth of shares will be released from their lockup soon.
REPT is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs.
In this note, we will talk about the lockup dynamics and possible placement.


REPT BATTERO Energy IPO Lockup - US$1.2bn Lockup Release

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>For the first time in 2024, <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus NV (PRX NA)</a> lodges a substantial shareholder notice,  as its stake in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> dips below 24%. </li>
<li>Preceding my comments on Prosus, Tencent and <a href="https://www.smartkarma.com/entities/naspers-ltd" target="_blank" data-smartkarma-citation="entities:21085:1" rel="noopener">Naspers (NPN SJ)</a>, are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>


For the first time in 2024, Prosus NV (PRX NA) lodges a substantial shareholder notice,  as its stake in Tencent (700 HK) dips below 24%. 
Preceding my comments on Prosus, Tencent and Naspers (NPN SJ), are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Business As Usual As Prosus Sells, & Tencent Buys Back

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.

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Tencent Holdings (ADR) (TCEHY US)

Hong Kong Buybacks Weekly (Dec 13th): Tencent, AIA, Kuaishou Technology

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

IGI (India) IPO - Unique Exposure but Questionable Acquisition, and 4x Returns for PE in 18 Months

International Gemmological Institute (India) Limited (IGII) is looking to raise about US$500m in its upcoming India IPO. In this note, we look at...

Sumeet Singh

Inventurus Pre-IPO - Accelerating Growth with Major Aquity Acquisition

Inventurus (IKS) is looking to raise up to US$295m in its upcoming India IPO. It is a technology-enabled healthcare solutions provider, assisting...

Nicholas Tan

REPT BATTERO Energy IPO Lockup - US$1.2bn Lockup Release

REPT BATTERO Energy raised around US$270m in its Hong Kong IPO in Dec 2023. Its pre-IPO investors holding around US$1.2bn worth of shares will be...

Sumeet Singh

StubWorld: Business As Usual As Prosus Sells, & Tencent Buys Back

Current levels for Prosus are neither here nor there. For long-onlies, I'd still prefer replacing your Tencent with Prosus; or specifically, ~80%...

David Blennerhassett

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