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APAC IPOs & Placements

Zhen Zhou, Toh

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

Joy Spreader Interactive Technology / Equity Capital Markets

Joy Spreader Interactive Technology (6988 HK)

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<p><a href="https://www.smartkarma.com/entities/joy-spreader-interactive-technology" target="_blank" data-smartkarma-citation="entities:29271:1" rel="noopener">Joy Spreader Interactive Technology (6988 HK)</a> (JST) raised US$202m in its Hong Kong IPO at HK$2.88 per share, slightly above the midpoint of its price range.</p>
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<p>JST is a performance-based we-media marketing service provider in China. JST connects marketers and we-media publishers via its technology and platforms. The services provided to marketers include analyzing and distributing their products on the we-media network which will help marketers acquire users.</p>
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<p>In this note, we will look at the deal dynamics and provide a table with implied valuation at different share price levels.</p>
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<p>Our previous coverage of the IPO:</p>
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<ul style="list-style-type: disc;">
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<p><a href="https://www.smartkarma.com/insights/joy-spreader-pre-ipo-found-a-niche-in-games-but-still-just-a-middleman" target="_blank" data-smartkarma-citation="insights:43073" rel="noopener">Joy Spreader (乐享互动) Pre-IPO - Found a Niche in Games but Still Just a Middleman</a> </p>
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<a href="https://www.smartkarma.com/insights/joy-spreader-ipo-fairly-valued-at-best" target="_blank" data-smartkarma-citation="insights:43139" rel="noopener">Joy Spreader (乐享互动) IPO - Fairly Valued at Best</a> </li>
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Joy Spreader Interactive Technology (6988 HK) (JST) raised US$202m in its Hong Kong IPO at HK$2.88 per share, slightly above the midpoint of its price range.


JST is a performance-based we-media marketing service provider in China. JST connects marketers and we-media publishers via its technology and platforms. The services provided to marketers include analyzing and distributing their products on the we-media network which will help marketers acquire users.


In this note, we will look at the deal dynamics and provide a table with implied valuation at different share price levels.


Our previous coverage of the IPO:




Joy Spreader (乐享互动) Pre-IPO - Found a Niche in Games but Still Just a Middleman 


Joy Spreader (乐享互动) IPO - Fairly Valued at Best 



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