APAC IPOs & Placements, Aequitas Research

Clarence Chu

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>
<a href="https://www.smartkarma.com/entities/jingdong-property-inc" target="_blank" data-smartkarma-citation="entities:36871:1" rel="noopener">Jingdong Property (JDP HK)</a> is looking to raise about US$1bn in its upcoming Hong Kong IPO.</li>
<li>JD Property (JDP) develops and manages modern infrastructure, consisting primarily of logistics parks, as well as business parks and others in China and in Asia.</li>
<li>As of Dec 22, the firm’s portfolio of Modern Infrastructure Assets has a total AUM of RMB93.7bn, occupying a total gross floor area (GFA) of 23.3m sqm. </li>
</ul>



Jingdong Property (JDP HK) is looking to raise about US$1bn in its upcoming Hong Kong IPO.
JD Property (JDP) develops and manages modern infrastructure, consisting primarily of logistics parks, as well as business parks and others in China and in Asia.
As of Dec 22, the firm’s portfolio of Modern Infrastructure Assets has a total AUM of RMB93.7bn, occupying a total gross floor area (GFA) of 23.3m sqm. 


Ethan Aw

ADICON Holdings Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/adicon-holdings-limited" target="_blank" data-smartkarma-citation="entities:33786:1" rel="noopener">ADICON Holdings Limited (ADI HK)</a> is looking to raise about US$400m in its upcoming HK IPO. </li>
<li>Adicon Holdings is one of the top three independent clinical laboratory (ICL) service providers in China in terms of total revenue during the Track Record Period, according to F&amp;S. </li>
<li>Adicon’s revenue growth has been driven by its medical diagnostic testing services segment, during the track record period. However, much of its growth appears to be driven by COVID-19 testing. </li>
</ul>



ADICON Holdings Limited (ADI HK) is looking to raise about US$400m in its upcoming HK IPO. 
Adicon Holdings is one of the top three independent clinical laboratory (ICL) service providers in China in terms of total revenue during the Track Record Period, according to F&amp;S. 
Adicon’s revenue growth has been driven by its medical diagnostic testing services segment, during the track record period. However, much of its growth appears to be driven by COVID-19 testing. 


Adicon Holdings Pre-IPO - Too Much Growth from COVID-19

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Keep Inc., the sports technology unicorn and the largest fitness app in China, has renewed its application proof in Hong Kong. Goldman Sachs and CICC are leading the upcoming IPO.</li>
<li>With a mission to make the world move, the fitness app has been making waves in the fitness industry with its innovative approach to online fitness.</li>
<li>Keep fitness app has been downloaded over 300M times since inception and there were 370M+ fitness users in China in 2022, the world's largest market globally.</li>
</ul>


Keep Inc., the sports technology unicorn and the largest fitness app in China, has renewed its application proof in Hong Kong. Goldman Sachs and CICC are leading the upcoming IPO.
With a mission to make the world move, the fitness app has been making waves in the fitness industry with its innovative approach to online fitness.
Keep fitness app has been downloaded over 300M times since inception and there were 370M+ fitness users in China in 2022, the world's largest market globally.


The Meteoric Rise of China's Hottest Fitness App Keep and Its Ambitious Plans to Go Public

China/Asia TMT

Shawn Yang

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>700.HK/ IQ： Tencent Video and Douyin reach strategic cooperation （+/-）</li>
<li>NIO: NIO to allow consumers to lock in EC7 orders starting Apr 10 （+）</li>
<li>ZLAB/1801HK: ZaiLab started FGFR2 mAb Phase III trial for Gastric Cancer in China (+)</li>
</ul>


700.HK/ IQ： Tencent Video and Douyin reach strategic cooperation （+/-）
NIO: NIO to allow consumers to lock in EC7 orders starting Apr 10 （+）
ZLAB/1801HK: ZaiLab started FGFR2 mAb Phase III trial for Gastric Cancer in China (+)


China TMT Update(Apr.10): 700.HK/IQ/NIO/ZLAB/1801HK - Tencent Video and Douyin Reach Cooperation

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Private Capital Markets

<ul>
<li>Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.</li>
<li>The company's flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.</li>
<li>
<a href="https://www.smartkarma.com/entities/naver-z" target="_blank" data-smartkarma-citation="entities:36882:1" rel="noopener">Naver Z (1838597D KS)</a> 's VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.</li>
</ul>


Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.
The company's flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.

Naver Z (1838597D KS) 's VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.


NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

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 (700 HK)

JD Property Pre-IPO Tearsheet

Jingdong Property (JDP HK) is looking to raise about US$1bn in its upcoming Hong Kong IPO. JDP develops and manages modern infrastructure in China...

Clarence Chu

Adicon Holdings Pre-IPO - Too Much Growth from COVID-19

ADICON Holdings Limited (ADI HK) is looking to raise about US$400m in its upcoming HK IPO. Unfortunately, much of its growth appears to be driven...

Ethan Aw

The Meteoric Rise of China's Hottest Fitness App Keep and Its Ambitious Plans to Go Public

Upcoming Keep IPO should deserve more attention from investors, given the company's massive opportunity, leadership position, competitive moat, and...

Andrei Zakharov

China TMT Update(Apr.10): 700.HK/IQ/NIO/ZLAB/1801HK - Tencent Video and Douyin Reach Cooperation

Tencent Video and Douyin reach strategic cooperation ； NIO to allow onsumers to lock in EC7 orders starting Apr 10 ；ZaiLab started FGFR2 mAb Phase...

Blue Lotus Research Institute

NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

With a valuation of more than $1.0bn, Naver Z focuses on developing VR and AR technologies. Its flagship product ZEPETO has become popular among...

Shifara Samsudeen, ACMA, CGMA

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