Upcoming APAC Transactions:
| Company | Country | Industry | Description | Bookrunners |
|---|---|---|---|---|
| ASK Automotive | The New Delhi-based supplier to motorcycle makers has sought the Indian market regulator’s approval for an initial public offering in which two of its founders will sell as many as 29.6 million shares, according to its initial prospectus on June 13 | |||
| Advanced MedTech Holdings | The medical device maker backed by Singapore’s state-owned investment firm Temasek Holdings Pte has chosen to list in Singapore instead of the US, reported on Sept. 11. A listing in the city-state may take place as early as the end of this year and could value the firm at about $1 billion. | Goldman Sachs Group, Morgan Stanley and Oversea-Chinese Banking Corp. | ||
| Beijing Taoche Technology | The used car sales platform in China is considering raising as much as $200 million in fresh funds, reported on July 28. Taoche is targeting an initial public offering as soon as 2024, and is considering the US among potential listing venues | |||
| Busy For You | Busy For You, a Chinese snack shop chain, is considering an initial public offering that could raise $100 million to $200 million, reported on July 24 | |||
| Cainiao Network Technology | Cainiao Network Technology Co., the logistics arm of Alibaba Group Holding Ltd., is considering an initial public offering that could raise $100 million to $200 million, reported on July 24 | |||
| Cello World | The maker of consumer household products, writing instruments and stationery, along with molded furniture, filed for initial public offering with India’s capital markets regulator, SEBI, according to its draft red herring prospectus on Aug. 15 | |||
| Changxin Memory Technologies | The Chinese chipmaker plans to file for a domestic IPO this year that could value it at more than $14.5 billion, reported on April 20 | |||
| Charoen Pokphand Group’s unit | The firm is exploring an initial public offering of its seed and animal feed business that could raise as much as $1 billion in Thailand as early as next year, reported on March 16 | |||
| Charoen Pokphand Foods | Thailand’s largest meat producer plans to sell up to a 30% stake in an initial public offering of its distribution unit to raise funds for business expansion, including overseas acquisitions, reported on April 12 | |||
| China Gas Holdings | The company is considering spinning off its value-added services unit through an IPO in Hong Kong that could raise between $500 million to $800 million and could come as early as the second half of the year, IFR reported on Feb. 6 | |||
| Cloudbreak Pharmaceutical | China | Pharma | The company is planning an IPO as large as $200 million in Hong Kong this year, IFR reported on March 21, citing unidentified people familiar with the matter | |
| CloudMinds | The SoftBank-backed, artificial intelligence-powered robot developer is considering a Hong Kong initial public offering that could raise as much as $500 million, reported on March 7 | CICC, Haitong | ||
| Concord Biotech | The Ahmedabad-based pharmaceutical ingredients maker’s IPO received bids for about 364.3 million shares, compared with 14.65 million on sale, on last day of the offering Aug. 8, according to stock exchanges data | |||
| Cowell Health | The Chinese drugstore chain backed by Hillhouse Capital has selected banks for its Hong Kong initial public offering that could raise more than $500 million, reported on March 21 | |||
| DeepBlue Technology | The self-driving vehicles AI company is planning to raise up to $500 million from a Hong Kong IPO this year, IFR reported on March 14 | |||
| Deewin Tianxia | China | Automobile Service Provider | The company is considering to start taking investor orders for its planned Hong Kong IPO, News reported. It’s planning to raise slightly more than $100 million | China Securities International |
| Dida | The firm is considering raising about $200 million through its planned Hong Kong IPO, reported on Feb. 20, paving the way for the first listing by a Chinese ride-hailing startup since Didi Global’s ill-fated share sale in 2021 | |||
| Dmall E-commerce | China | E-Commerce | The online retail service provider could raise between $100m and $200m in its Hong Kong initial public offering, IFR reports | |
| Doms Industries | The Indian stationery company has sought the market regulator’s approval for an initial public offering that aims to raise as much as 12 billion rupees, according to its draft prospectus. | |||
| Doosan Robotics | The company is seeking to raise as much as 421.2 billion won through an initial public offering that’s set to be the largest in South Korea this year | Mirae Asset Securities, Korea Investment and Securities, KB Securities, NH Investment and Securities, Credit Suisse | ||
| Eco-Shop Marketing | Malaysia | Retail | The budget retail chain in Malaysia is weighing an initial public offering in Kuala Lumpur that could raise as much as 800 million ringgit, reported on March 15 | |
| ESR Group | ESR Group is considering a listing of three logistics projects through a publicly offered infrastructure securities investment fund on the Shanghai Stock Exchange | |||
| FirstMeridian Business Services | The company sought regulatory approval for an IPO that could raise as much as 8 billion rupees, according to a draft red herring prospectus on issue manager IIFL’s website | JM Financial, DAM Capital Advisors, Edelweiss Financial Services and IIFL Securities | ||
| Five Star Business Finance | The firm is aiming to launch a domestic IPO of up to 27.5 billion rupees late in October, IFR reported on Oct. 7. The offering will comprise entirely secondary shares from shareholders including Sequoia Capital India, TPG Capital, Matrix Partners India and Norwest Venture Partners | Edelweiss, ICICI Securities, Kotak, Nomura | ||
| Fourth Paradigm | China | Ai | Beijing Fourth Paradigm Technology has refiled pre-listing documents with the Hong Kong stock exchange, according to an exchange filing on April 24 | CICC |
| Foxtron Vehicle Technologies | Taiwan | Vehicles | Foxtron Vehicle Technologies, jointly established by Hon Hai and Yulon, plans to raise at least NT$10b at a list price of not less than NT$70 in the first quarter of this year, Economic Daily News reports, citing unidentified people in the industry. | |
| GAC AION | Guangzhou Automobile’s EV unit has picked CICC and Huatai United Securities for a Shanghai STAR IPO, IFR reported on April 20, citing people it didn’t identify | |||
| Genesis MedTech Group | The Singapore-based medical device company has selected advisers for a potential initial public offering in Hong Kong, reported on July 11 | CITIC Securities, Goldman Sachs, Morgan Stanley | ||
| GCash | Globe Telecom Inc., the Philippines’ second-biggest telecommunications company, expects its e-wallet unit GCash to be ready for an initial public offering by yearend, President and CEO Ernest Cu said on June 8 | |||
| Global Health | The operator of hospitals under the Medanta brand has set a price range of 319 rupees to 336 rupees per share for an IPO set to raise about 22.05 billion rupees, according to an advertisement in the Financial Express newspaper on Oct. 28 | |||
| GoodMe | The company, known as Gu Ming in Chinese, picked Goldman Sachs and UBS to arrange a Hong Kong IPO of about $300m, IFR reports on June 29. IPO expected early 2024 | |||
| Guangdong Anda Automation Solutions | The automation-machines maker is set to conduct price consultation for a proposed 1.17 billion yuan IPO in Shanghai, IFR reported | CICC | ||
| Guangdong Ubridge New Material Technology | The refiner of minerals including titanium and zirconium, is considering a Hong Kong initial public offering that could raise about $300 million, reported on July 27 | BNP Paribas, China Securities International | ||
| Guizhou Guotai Liquor Group | The Chinese white liquor brand is considering a Hong Kong IPO that could raise more than $500 million as soon as this year, reported on Feb. 8 | |||
| Guoquan Food | Shanghai | The hotpot and barbecue ingredient supermarket chain has filed for an initial public offering in Hong Kong. The company is considering raising $300 million to $500 million in the share sale, reported on April 3 | Huatai Securities, China International Capital Corp. | |
| Haidilao International | China’s largest hotpot restaurant chain is considering listing its overseas business in Hong Kong by way of introduction, according to a filing in July | |||
| Happy Forgings | The company is planning to raise as much as 12b rupees in a domestic IPO, Economic Times reports on May 26, citing unidentified person with direct knowledge of the matter. | |||
| Hanwha REIT | The real estate investment trust is seeking to raise 116b won in a initial public offering, listing shares in late March, according to a statement on March 2 | |||
| Haomo Zhixing Technology | The self-driving unit of China’s Great Wall Motor Co., is considering to raise as much as $400m in a Hong Kong IPO next year, IFR reports on July 26, citing unidentified people with knowledge of the matter | |||
| HealthVista India | The Bengaluru-based company has filed a prospectus with India’s markets regulator to raise as much as 2 billion rupees selling new shares at a face value of 1 rupee each, according to a copy of its draft red herring prospectus on July 1 | SBI Capital, IIFL Securities, JM Financial | ||
| Hozon New Energy Automobile | The manufacuter of affordable electric vehicles in China is considering filing for its $1 billion Hong Kong initial public offering as soon as June, reported on June 1 | ABCI, CMBI,CICC, Citic Securities, Morgan Stanley | ||
| Indegene | Indegene is planning a domestic IPO of around $400m early this year, IFR reported | Citigroup, Kotak, Nomura | ||
| India Shelter Finance | The lender to buyers of affordable homes, seeks to raise as much as 10 billion rupees selling new shares in an initial public offering, according to a draft prospectus on Aug. 9 | ICICI Securities, Citi, Kotak Mahindra Capital, Ambit | ||
| Indorama Ventures | The acquisitive Thai chemicals company is considering a US initial public offering of its integrated oxides and derivatives business that could raise about $1 billion, reported on March 17 | |||
| Integral | The Japanese private equity firm and a shareholder will offer shares at 2,400 yen each in an initial public offering in Tokyo, according to a statement on Sept. 11 | Joint global coordinators: Daiwa, Nomura; co-global coordinator BofA | ||
| iQiyi | The firm is again exploring a second listing in Hong Kong just as China’s answer to Netflix Inc. looks on track to reverse years of losses. The company is now working on “technical details” for a Hong Kong share float, CEO Gong Yu said in an interview on May 25 | |||
| Ispace | The Japanese lunar exploration startup , which partnered with Elon Musk’s SpaceX to deliver its lander to the moon, will list on the Tokyo Stock Exchange’s Growth Market on April 12. Market cap at the time of the IPO would be around 19.2 billion yen, based on the indicative price of 244 yen/share | |||
| JD.com units | JD.Com is weighing an option to list its logistics property and industrial e-commerce units, which could each raise about $1b from an IPO, IFR reported on Jan. 13, citing unidentified people | |||
| JSW Infrastructure | JSW Infrastructure has received the approval to launch its initial public offering, Mint reports on Sept. 14, citing an unidentified person familiar with the matter. The company is likely to finalize the launch by the end of September. | |||
| iMotion Automotive Technology Suzhou | The Chinese developer and provider of AI automated driving solutions is considering a Hong Kong IPO that could raise up to $300 million this year, reported on March 1 | CCB International, Citigroup, Huatai Securities | ||
| Infrabuild Australia | The firm has taken pitches from investment banks to re-list on the ASX, AFR reported | |||
| ITC | The cigarette maker is planning to list its hotels business in the next six to nine months, The Economic Times reported on Aug. 5 citing people familiar with the matter | |||
| Ito-Yokado | Japan | Supermarket | Seven & i Holdings will seek to list its supermarket business that will have Ito-Yokado at its core, Kyodo reported CEO Ryuichi Isaka as saying on April 27 | |
| Jianzhi Education Technology | The firm filed to offer 5 million American Depositary Shares in a Nasdaq IPO, pricing them between $5-$7 each | |||
| Jio Financial Services | Reliance Industries Ltd. is planning to list its digital financial services unit as soon as October, reports on April 28 | |||
| JM Baxi | The firm intends to file for IPO of as much as 25b rupees ($320m), IFR reported | Axis Capital, Bank of America, Credit Suisse and Kotak | ||
| KK Group | China | Retailer | The Chinese retailer has filed for an IPO in Hong Kong, according to pre-listing documents posted on HKEX website on Jan. 20 | Morgan Stanley, Credit Suisse |
| Kokusai Electric | KKR targets a Tokyo IPO for Kokusai Electric Corp., Reuters reports, citing people familiar with the matter | SMBC Nikko Securities, Goldman Sachs | ||
| Lenskart | The SoftBank-backed company is planning an initial public offering within 48 months, CEO Peyush Bansal said in an interview to TV on July 14 | |||
| LFM Properties | Philippines’ Securities and Exchange Commission said it has approved LFM Properties’ plan to list on the stock exchange by way of introduction | |||
| LS Cable | The firm signed agreement with KB Securities and Kiwoom Securities to arrange an IPO on South Korea’s Kosdaq market, Seoul Economic Daily reported on April 4, citing LS Cable | |||
| Longfor Intelligent Living | The unit of Chinese developer Longfor Group Holdings Ltd. got the green light for an IPO in Hong Kong of around $1 billion | CCB International, CICC, HSBC, JPMorgan | ||
| Lu DaoPei Medical Group | The Chinese hematology healthcare services provider submitted pre-listing documents with the Hong Kong stock exchange, according to a filing on July 6 | |||
| Metro Pacific Hospital | The Philippines’ largest private hospital group, backed by KKR & Co. and Singapore’s sovereign wealth fund GIC, is considering reviving an initial public offering in Manila that could raise $500 million to $1 billion, reported on Feb. 23 | |||
| Midea Group | The home appliance giant has selected Bank of America Corp. and China International Capital Corp. to arrange its planned Hong Kong listing, reported on Aug. 10 | |||
| Mobvoi | The Chinese artificial intelligence company and smart device maker has selected banks for a Hong Kong initial public offering that could raise about $200 million to $300 million, reported on May 10 | |||
| Molycop | American Industrial Partners are hiring Goldman Sachs to take Molycop public, Australian Financial Review reports on May 1 | |||
| Momenta | Chinese self-driving firm Momenta is considering an IPO in Hong Kong or US that could raise as much as $1 billion as early as this year, IFR reported on March 6 | |||
| New Ruipeng Pet Group | The largest pet care platform in China said it intends to apply to list ADSs on the Nasdaq under the symbol “RPET.” It filed for an IPO with size of $100 million, News reported on Jan. 24 | |||
| Newlink Group | China | Energy | The Chinese energy startup, which planned for a Hong Kong IPO last year, is opting for a US listing instead that could raise about $400 million, IFR reported on March 1 | Bank of America, BNP Paribas, CMB International, Morgan Stanley |
| Nexteel | The steel products manufacturer has won listing approval for a Korea Exchange IPO, IFR reported on June 27, citing unidentified people familiar with the situation | |||
| Nexus Select Trust | India | Reit | A 32 billion-rupee initial public offering of the real estate investment trust that houses Blackstone Inc.’s Indian shopping mall portfolio will be open for subscription between May 9-11 | |
| Ningbo Ronbay New Energy Technology | Chinese billionaire Bai Houshan’s Ningbo Ronbay New Energy Technology Co. is mulling plans to separate its Korean operations from its Shanghai unit, the Financial Times reports on Aug. 22, citing three unidentified people familiar with the matter | |||
| Ola Electric | The EV maker will hold talks from June 19 with investors in the US and Singapore about its IPO, Reuters reported on June 9, citing two unidentified people with direct knowledge | |||
| OMS Group | Malaysia | Cables | The Malaysia-based company that installs cable underwater, is weighing a listing in Kuala Lumpur as soon as 2023 that could raise as much as $300 million, News reported on July 27 | |
| Orca Cold Chain | Orca and its owners plan to sell 1.48 billion shares at up to 0.88 pesos each in a 1.3b-peso IPO, according to a statement | Investment & Capital Corp | ||
| Oyo Hotels | Oyo Hotels is reducing the shares it aims to sell via a stock-market debut by about two-thirds, an effort by its founder to get the sale done even after tech valuations plunged, reported on March 27 | |||
| Symmetry Group | IPO book building was oversubscribed by 1.56 times, according to data on the Pakistan Stock Exchange website on Aug. 9. The indicative price is 4.3 rupees per share after a price range of 4.25-4.67 rupees | |||
| PayPay | SoftBank Group Corp.’s telecom arm is exploring a US listing for its loss-making PayPay mobile payments business, Reuters reported on July 12, citing unnamed sources familiar with the matter. | |||
| PayU | Prosus-backed digital payments company PayU has invited bids from banks to manage a $500m–$1b domestic IPO of its India business, IFR reported on Sept. 4 | |||
| PhonePe | Walmart Inc.-owned digital payments brand PhonePe is seeking to raise as much as $1 billion from General Atlantic and existing investors including Tiger Global Management, Qatar Investment Authority and Microsoft Corp. | |||
| Pinkfong Company | The producer of “Baby Shark” viral YouTube video said in May it will keep reviewing the appropriate timing for an IPO, prioritizing the company’s continued growth | |||
| Pupuk Kaltim | The firm plans for a $500m to $1 billion domestic IPO this year, IFR reports on Jan. 4. It’s working with Citigroup and Credit Suisse on the deal, and more banks are likely to join the syndicate | |||
| Rakuten’s credit card unit | Rakuten Group Inc. is considering taking its credit card unit public to streamline its operations in the face of climbing mobile losses, public broadcaster NHK reported on Aug. 10 | |||
| Redox | The Australian chemical distribution firm has priced its initial public offering at A$2.55 per share for an offer size of A$402 million, setting up the country’s largest listing this year, reported on Aug. 6. The listing is slated for July 5 | |||
| REPT Battero Energy | The Chinese battery maker for electric vehicles has lined up banks to arrange its planned Hong Kong initial public offering, which could raise as much as $1 billion as soon as the first half of this year, reported on Feb. 15 | Credit Suisse, Morgan Stanley, Citic Securities | ||
| Repower Energy Development | The firm plans to sell 200m primary shares at 5 pesos each, it says in a Philippine Stock Exchange filing on June 23 | |||
| R R Kabel | The Mumbai-based maker of electric cables and switches sought the approval of India’s capital markets regulator SEBI for an initial public offering that includes an issue of new shares worth as much as 2.25 billion rupees, according to draft papers on May 8 | |||
| Sai Silks Kalamandir | The Hyderabad-based firm has filed a prospectus with India’s markets regulator to raise as much as 6 billion rupees through the sale of new shares at 2 rupees each, according to its draft red herring prospectus | |||
| Samhi Hotels | The company’s initial public offering will also include the sale of as many as 13.5m shares by holders including Blue Chandra Pte, according to a document available on issue manager Kotak’s website on Sept. 6 | |||
| SBFC Finance | The company set a price range of 54 rupees to 57 rupees per share for an IPO that could raise as much as 10.25 billion rupees, according to an ad in the Financial Express newspaper on July 29 | ICICI Securities Ltd., Axis Capital Ltd., Kotak Mahindra Capital Co. | ||
| SBI Sumishin Net Bank | The venture between SBI Holdings and Sumitomo Mitsui Trust Ban will list on the Tokyo Stock Exchange’s standard segment on March 29, according to a filing to Japan’s Finance Ministry | |||
| Samhi Hotels | The firm aims to raise 10b rupees by issuing new shares, while existing investors will offer as many as 9m equity shares in a proposed initial public offering, according to an ad published on April 2 in the Financial Express | |||
| Senco Gold | The company filed a prospectus for an IPO of up to 5.25 billion rupees | Ambit, IIFL Securities, SBI Capital Markets | ||
| Semiconductor Manufacturing Electronics | Shaoxing | The chip foundry backed by China’s top semiconductor firm is set to raise $1.4 billion as Beijing ramps up efforts to finance its tech race against Washington, according to a filing on April 25 | ||
| Seoul Guarantee Insurance | The insurance firm has set a price range of 39,500-51,800 won per share for its IPO in South Korea, according to IPO prospectus filed to regulator on Sept. 12 | Mirae Asset, Samsung Securities | ||
| Sichuan Baicha Baidao | The company has applied for a Hong Kong IPO, according to pre-listing documents posted on HKEX website on Aug. 15 | CICC | ||
| SF Holding | The Chinese courier giant said the proposed secondary listing in Hong Kong will increase its competitiveness, according to an exchange filing on Aug. 1. The plan is subject to shareholders’ approval as well as regulatory approvals in Hong Kong and China | |||
| Shandong Taishan Beer | The firm is considering a Hong Kong IPO that could raise up to $300 million, reported on Feb. 24 | |||
| Shanghai Duoning Biotechnology | The company filed pre-listing documents with the HKEX, according to a statement on March 31 | Morgan Stanley, BofA Securities, Huatai | ||
| Shenzhen Cloudsky Technologies | China | Computing Services | The digital storage and computing service provider is considering an IPO that could raise about $200 million as soon as this year, reported on Feb. 24 | |
| Shiyue Daotian | The company filed pre-listing documents with the HKEX on Friday, according to a statement on March 31. | |||
| Sichuan Kelun-Biotech Biopharmaceutical | Sichuan Kelun-Biotech Biopharmaceutical is offering 22.4 million shares at HK$60.60-HK$72.80 each in a Hong Kong initial public offering, reported on June 28 | |||
| SignatureGlobal | The firm is seeking the approval of India’s stock market regulator SEBI to raise as much as 7.5 billion rupees in an initial public offering, according to a draft red herring prospectus in July | ICICI Securities, Axis Capital. Kotak Mahindra Capital | ||
| Sinar Eka Selaras | The electronics and sporting goods retailer, a unit of Erajaya Swasembada, will offer as much as 1.04b shares or 20% stake at a price range of 370-410 rupiah per share in an IPO, according to its prospectus on July 14 | |||
| Sinotrans | The company plans to apply for the issuance and listing of a publicly traded real estate investment trust fund for infrastructure assets on the Shanghai Stock Exchange | |||
| Smilegate RPG | Video game developer Smilegate is considering a Korea Exchange IPO for its Smilegate RPG unit as early as 2023, IFR reported on July 26 | Morgan Stanley and Huatai International | ||
| Sunwoda Electronic Vehicle Battery | Sunwoda Electronic plans to spin off its EV battery unit for a separate listing on the ChiNext board on the Shenzhen Stock Exchange, according to a filing on July 14 | |||
| Syngenta | Syngenta Group has approached a number of Middle Eastern sovereign funds as it seeks cornerstone investors for its 65 billion yuan ($9 billion) initial public offering, reported on July 14 | |||
| T20 Holdings | Singapore | Power Generation Solutions | The company filed in July for an initial public offering on the Nasdaq, saying it has applied to list shares and warrants under the symbols “TWEN” and “TWENW,” respectively | EF Hutton |
| Tata Technologies | The company has sought approval from India’s markets regulator for an IPO in which its parent carmaker Tata Motors Ltd. and other investors will sell as many as 95.7 million shares | JM Financial, Citigroup Global Markets India, BofA Securities India | ||
| Thai Credit Retail Bank | The microfinance lender is planning a Bangkok IPO of up to $400m, IFR reported on July 20 | Bualuang Securities | ||
| Tian Tu Capital | China | Private Equity | The private equity investor and fund manager filed pre-listing documents with the HKEX, according to a filing to the HKEX on March 31 | JPMorgan, Huatai, BOCI Asia |
| Trade and Development Bank of Mongolia | The lender plans to raise about 83.5 billion tugrik in an initial public offering, the exchange said in a statement on Wednesday | |||
| Trial Holdings | The Japanese conglomerate has set an indicative price of 2,000 yen per share for an initial public offering in Tokyo that seeks to raise 51.4 billion yen ($374m), IFR reported on March 8 | Daiwa, Morgan Stanley | ||
| T. S. Lines | Taiwan | Container Shipping | The Taiwan-based company is planning to raise up to $300 million through a Hong Kong IPO in the second half, IFR reports on May 3 | |
| Tsinghua Unigroup Co. | The company’s new owners are exploring ways to stave off creditors after completing a $9 billion takeover, including industrial property sales and floating fast-growing business units such as a local rival to Qualcomm Inc., reports on Jan. 16 | |||
| Tuhu | The Tencent-backed firm is offering 40.6 million shares at HK$28.00-HK$31.00 apiece in its Hong Kong initial public offering, according to statement to Hong Kong stock exchange on Sept. 14. Trading expected to begin on Sept. 26 | Goldman Sachs, CICC, UBS, BofA | ||
| UBTech Robotics | China | Robotics | The firm is planning to raise about $500m–$700m from a Hong Kong IPO this year, IFR reported on Feb. 23, citing unidentified people | |
| Upson | Philippines | Computer Retailer | The computer retailer said it is looking to price its initial public offering on Feb. 28 as it obtained local bourse approval for a 4.88b-peso initial share sale, according to a statement on Jan. 30 | |
| Vietcombank | JSC Bank for Foreign Trade of Vietnam, known as Vietcombank, is seeking advisors for a plan to raise about $1 billion to boost its capital, reported on June 1 | |||
| Virgin Australia | Bain Capital has picked the top arrangers for Virgin Australia Airlines Pty Ltd.’s initial public offering, which could be one of the country’s biggest listings this year, reported on Feb. 16 | Goldman Sachs, UBS, Barrenjoey Capital Partners | ||
| Visen Pharma Shanghai | The Chinese biotech company submitted pre-listing documents with HKEX, according to a filing to the bourse on Aug. 17 | Morgan Stanley and Jefferies are joint sponsors | ||
| VKTR Teknologi | The electric vehicle trading firm seeks to raise up to 1.14t rupiah through the sale of as much as 8.75b shares in an IPO, according to a prospectus on May 25 | Samuel Sekuritas, Ciptadana, Trimegah Sekuritas | ||
| Wuhu Urban Construction Group | The company submitted pre-listing documents to HKEX, according to a filing on the bourse’s website on Aug. 1 | Orient Capital is sole sponsor | ||
| XacBank | The Mongolian bank plans to raise 35.7 billion tugrik through the sale of shares in an IPO, according to a statement from the country’s stock exchange on May 26 | Ulzii & Co. Capital, RHINOS Investment | ||
| Xiamen International Bank | Xiamen International Investment submits pre-listing documents with HKEX, according to a filing to the bourse on July 13 | |||
| Xiamen Yan Palace Bioengineering | The Chinese edible bird’s nest producer is considering a Hong Kong initial public offering that could raise about $200 million, reported on May 5 | |||
| Xinyi Solar | The board of the Hong Kong-listed company approved the proposed listing of yuan shares on Shenzhen’s ChiNext Market, according to statement to Hong Kong stock exchange on Oct. 21 | Guotai Junan | ||
| YLAB Corporation | The company is offering 3m shares in an initial public offering in Seoul that’s set to raise up to 24b won, according to terms of the deal obtained by News on June 12 | |||
| Ziroom | The Chinese home rental platform is considering a Hong Kong IPO that could raise about $1 billion as soon as this year, reported on March 8 | Citic, Goldman Sachs, Morgan Stanley |
APAC ECM Research
Explore latest Insights on APAC ECM on Smartkarma
Delayed deals:
| Company | Country | Industry | Description | Bookrunners |
|---|---|---|---|---|
| Amman Mineral Internasional | The firm pushed back its domestic IPO launch to 2Q because of volatile market conditions, IFR reported on March 16, citing people it didn’t identify with knowledge of the transaction. | CLSA | ||
| API Holdings | The owner of India’s largest online pharmacy PharmEasy has withdrawn its preliminary filing for an IPO, citing market conditions and strategic considerations | |||
| Bank Sumut | Indonesia | Bank | The Indonesian lender decided to delay its IPO after taking into account market conditions, reports Kompas.com, citing Bank Sumut Corporate Secretary Agus Condro Wibowo | |
| Bharat FIH | FIH Mobile says it has decided to delay the timetable for the proposed spinoff of its subsidiary Bharat FIH in view of current market conditions, according to a statement to the Hong Kong stock exchange on Oct. 20 | Kotak Mahindra Capital, Citi, BNP Paribas, HSBC | ||
| Big C Supercenter | The supermarket and convenience store company controlled by Thailand’s richest person postponed a planned initial public offering on Aug. 29, citing market conditions. Big C was seeking to raise about $1 billion in its first-time share sale, News reported in January. | |||
| Aakash Educational Services | Byju’s seeks to have the stock-market debut of its tutoring unit next year, later than it had previously envisaged as the Indian education-technology company struggles with financial challenges, according to a statement on June 5. | |||
| CrownX | Masan Group is still working on a listing plan for its unit The CrownX, but may delay the IPO by 12-18 months to 2024-2025 due to market conditions, CEO Danny Le says on April 24 | |||
| Fabindia | The company has shelved an IPO due to low valuations, IFR reported on Feb. 27, citing unidentified people familiar with the matter | |||
| Fedbank Financial Services | Federal Bank’s unit Fedbank Financial Services Ltd. is planning an IPO that will include issue of new shares and an offer for sale by the lender, according to a statement to exchanges on July 18 | |||
| Freshippo | Alibaba Group Holding Ltd. is putting a potential Hong Kong initial public offering of its Freshippo grocery chain on the backburner amid weak sentiment for consumer stocks, reported on Sept. 8. | |||
| FWD Group Holdings | FWD Group Holdings Ltd. has refiled pre-listing documents with the Hong Kong stock exchange, according to a filing on the bourse’s website on March 13 | Morgan Stanley, Goldman Sachs, CMB International, JPMorgan | ||
| Growatt Technology | Growatt Technology has delayed its IPO launch in Hong Kong as market sentiment remains challenging, IFR reports on May 29, citing unidentified people with knowledge of the matter | CICC, Credit Suisse | ||
| Honasa Consumer | Mamaearth’s parent Honasa Consumer has decided to put an initial public offering of its Indian skincare startup on hold due to market conditions, Reuters reported on March 27 | |||
| Hyundai Samho Heavy Industries | Korea Shipbuilding withdrew plan to list shares of Hyundai Samho by ending a contract with South Korean private equity fund IMM, Yonhap reports on Jan 3, citing the shipbuilder. IMM PE signed a deal with Korea Shipbuilding in 2017 to buy Hyundai Samho shares under the condition of IPO | |||
| K Bank | The South Korea-based online lender has decided to delay its IPO, given weak investment sentiment, Yonhap News reported on Feb. 2, citing the bank | NH Investment, JPMorgan and Citi | ||
| Kakao Piccoma | Kakao Corp. dropped plan to list operator of global webtoon platform Kakao Piccoma and will seek extra investment for Kakao Entertainment, Seoul Economic Daily reported on Feb. 16, citing unidentified investment banking sources | |||
| Kurly | The maker of a Korean mobile app for delivering fresh groceries decided to delay its IPO amid weak investment sentiment due to worsening global economic condition, reported on Jan. 4 | |||
| Oasis | The South Korean grocery delivery app that competes with US-listed Coupang Inc. decided to withdraw what was expected to be the nation’s largest initial public offering in five months amid difficulty in reaching expected valuation, according to a statement on Feb. 13 | |||
| Olam Agri Holdings | One of Asia’s biggest agricultural commodity traders said the listing of its agribusiness unit in Saudi Arabia won’t be completed by the first half of the year as planned, according to a statement on May 30 | |||
| Pertamina Hulu Energi | The unit of state-owned energy company Pertamina will delay its IPO due to market and oil price situation, said Deputy State-Owned Enterprises Minister Kartika Wirjoatmodjo by text message on July 26 | Credit Suisse, Citi | ||
| PKH Ventures | PKH Ventures has withdrawn its initial public offering due to lack of demand from funds, according to a public notice in the Financial Express newspaper on July 5 | |||
| SM Prime Holdings | The Philippine builder said on Aug. 17 it plans to defer a planned maiden share sale for its REIT into 2024, confirming a statement by an executive at its parent SM Investments | |||
| Shanghai Biren Intelligent Technology | The Chinese chip startup is considering an initial public offering in Hong Kong as soon as this year, reported on July 18, aiming to capitalize on a wave of local clients turning to its AI chips as an alternative to banned Nvidia Corp. silicon | |||
| Siam Cement’s chemicals unit | Siam Cement Pcl, one of Thailand’s largest industrial conglomerates, scrapped a proposed initial public offering for its chemicals unit on Aug. 28, citing unfavorable market conditions. | |||
| Star Plus Legend | Star Plus Legend decided to postpone its global offering in Hong Kong, the company said in a statement to HKEX on June 9. Application fees will be refunded in full without interest | |||
| TUHU Car | The company started gauging investor interest for an initial public offering in Hong Kong on Aug. 24 | BofA, Goldman Sachs, CICC, UBS | ||
| Zhong An Intelligent Living Service | The firm pulled a Hong Kong IPO of as much as $29 million because of market conditions, IFR reports on Jan. 12, citing unidentified people |
Disclaimer:This article by is general in nature and based on publicly available information and not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material. While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
ECM Daily Briefs on Smartkarma
In today’s briefing: Dai-Nippon Printing (7912) - The First Equity Offering by Cross-Holders - Small…
Smartkarma Daily BriefsNovember 30, 2024
In today’s briefing: Kioxoa Pre-IPO - Peer ComparisonKioxoa Pre-IPO - Thoughts on ValuationsKioxia (285A JP)…
Smartkarma Daily BriefsNovember 29, 2024
In today’s briefing: HULIC (3003 JP) - Crossholders Show Up with a BIG (Relative) Secondary…
Smartkarma Daily BriefsNovember 28, 2024
In today’s briefing: Sanrio (8136 JP) Large Secondary Offering - Don't Say Hello Kitty! Too…
Smartkarma Daily BriefsNovember 27, 2024
In today’s briefing: Kansai Electric Power (9503 JP): The Current PlaybookKioxoa Pre-IPO - The Positives…
Smartkarma Daily BriefsNovember 26, 2024
In today’s briefing: Meiji Holdings Placement - Momentum Leading into This Cross-Shareholding Selldown Isn’t the…
Smartkarma Daily BriefsNovember 25, 2024
In today’s briefing: Kioxia IPO PreviewWeekly Deals Digest (24 Nov) - SF Holding, FineToday, KEPCO,…
Smartkarma Daily BriefsNovember 24, 2024
In today’s briefing: Cuscal IPO Trading - Valuation Appears Reasonable Cuscal IPO Trading - Valuation…
Smartkarma Daily BriefsNovember 23, 2024
In today’s briefing: Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as…
Smartkarma Daily BriefsNovember 22, 2024
In today’s briefing: FineToday Pre-IPO - The Positives - Established Brands Across Multiple RegionsZinka Logistics…
Smartkarma Daily BriefsNovember 21, 2024
In today’s briefing: SF Holdings A/H Listing - Lower End Looks DigestableKDC REIT Placement -…
Smartkarma Daily BriefsNovember 20, 2024
In today’s briefing: SF Holding Pre-IPO: Deal Goes Live in HK, Company Hopes to Raise…
Smartkarma Daily BriefsNovember 19, 2024
