Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
We are seeing companies launching book build/file for an IPO as global markets started to trade better. The IPO that we will be focusing on next week is Kingsoft Cloud (1775017D US) which has just filed their prospectus with the SEC on Friday. Ke Yan, CFA, FRM shared his thoughts on the company in our early coverage note:
In Hong Kong, Akeso Biopharma Inc (9926 HK) launched its bookbuild this week. This is the first large listing (>US$100m) in Hong Kong after InnoCare Pharma Ltd (9969 HK)'s listing last month (which traded well post-IPO). Ke Yan, CFA, FRM has a comprehensive coverage of the deal in his notes:
Other upcoming Hong Kong IPO coverage:
Australia placements have slowed down. Qbe Insurance (QBE AU) and Bapcor Ltd (BAP AU) raised about US$770m and US$113m, respectively, to shore up their balance sheets. Specifically, QBE's placement was done to lift its regulatory capital in response to economic and financial market uncertainty. Both deals are trading well, holding above deal price.
Over and above the deals that have already raised capital, we looked into what are some of the companies in Australia and New Zealand that may come to market. Sumeet Singh covered the details in his note:
This week, our attention turned to Hong Kong and Taiwan too. Yageo Corporation (2327 TT) raised about US$700 from its GDS placement which has been well-flagged since a month ago whereas SK E&S sold its entire US$1.5bn stake in China Gas Holdings (384 HK) in a clean-up placement.
Our overall accuracy rate is 73.3% for IPOs and 65.2% for Placements
(Performance measurement criteria is explained at the end of the note)
Below is a snippet of our IPO tool showing upcoming events for the next week. The IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.