APAC IPOs & Placements, Aequitas Research

Rosita Fernandes

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

Liuliu Orchard Group / Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/liuliu-orchard-group" target="_blank" data-smartkarma-citation="entities:45087:1" rel="noopener">Liuliu Orchard Group (LLO HK)</a> (LOGCL) is planning to raise about US$100m in its upcoming Hong Kong IPO. The lead bookrunners for the deal are Citic and Guoyuan.</li>
<li>The company was established in 1999. It is one of the leading producers of plum-based products in China’s fruit snacks category.</li>
<li>As per F&amp;S Report, LOGCL ranked first in China’s fruit snacks industry by retail sales value, with a market share of 4.9% in 2024.</li>
</ul>



Liuliu Orchard Group (LLO HK) (LOGCL) is planning to raise about US$100m in its upcoming Hong Kong IPO. The lead bookrunners for the deal are Citic and Guoyuan.
The company was established in 1999. It is one of the leading producers of plum-based products in China’s fruit snacks category.
As per F&amp;S Report, LOGCL ranked first in China’s fruit snacks industry by retail sales value, with a market share of 4.9% in 2024.


Liuliu Orchard Group Co Ltd Pre-IPO Tearsheet

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<li>
<a href="https://www.smartkarma.com/entities/ifbh-pte-ltd" target="_blank" data-smartkarma-citation="entities:45067:1" rel="noopener">IFBH (IFBH HK)</a>  is planning to raise about US$100m through its upcoming Hong Kong IPO. The lead bookrunner for the deal is Citic.</li>
<li>IFBH specializes in ready-to-consume beverages and food, focusing on coconut water and plant-based products. Its flagship brand, if, introduced natural coconut water to mainland China, becoming the largest market.</li>
<li>As per CIC, IFBH has led mainland China's coconut water market for five years, holding a 34% share in 2024, while dominating Hong Kong with a 60% share since 2016.</li>
</ul>



IFBH (IFBH HK)  is planning to raise about US$100m through its upcoming Hong Kong IPO. The lead bookrunner for the deal is Citic.
IFBH specializes in ready-to-consume beverages and food, focusing on coconut water and plant-based products. Its flagship brand, if, introduced natural coconut water to mainland China, becoming the largest market.
As per CIC, IFBH has led mainland China's coconut water market for five years, holding a 34% share in 2024, while dominating Hong Kong with a 60% share since 2016.


IndiQube Spaces Ltd / Equity Capital Markets

IndiQube Spaces Private Limited provides internet based services. The Company offers through its platform office properties search, information and real estate services. IndiQube Spaces serves customers in India.

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<li>
<a href="https://www.smartkarma.com/entities/indiqube-spaces-ltd" target="_blank" data-smartkarma-citation="entities:44238:1" rel="noopener">IndiQube Spaces Ltd (1628202D IN)</a>  (ISL) is planning to raise about US$100m in its upcoming India IPO. </li>
<li>ISL is a managed workplace solutions provider offering technological workplace solutions. As per CBRE Report, ISL is among the leading operators in Bengaluru as of Jun 24.</li>
<li>ISL offers enterprise workplace solutions, from large hubs to small spokes, enhancing employee experience through integrated interiors, amenities, and various value-added services for a seamless, efficient office environment.</li>
</ul>



IndiQube Spaces Ltd (1628202D IN)  (ISL) is planning to raise about US$100m in its upcoming India IPO. 
ISL is a managed workplace solutions provider offering technological workplace solutions. As per CBRE Report, ISL is among the leading operators in Bengaluru as of Jun 24.
ISL offers enterprise workplace solutions, from large hubs to small spokes, enhancing employee experience through integrated interiors, amenities, and various value-added services for a seamless, efficient office environment.


IndiQube Spaces Pre-IPO - Capacity Has Been Expanding, Though Margins Remain Unstable

Runwal Enterprises Limited / Equity Capital Markets

Runwal Enterprises Limited owns and develops real estate. The Company engages in development of residential and commercial properties, as well as owns and manages the retail mall chain. Runwal Enterprises serves customers in India.

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<li>
<a href="https://www.smartkarma.com/entities/runwal-enterprises-limited" target="_blank" data-smartkarma-citation="entities:45055:1" rel="noopener">Runwal Enterprises Limited (2300329D IN)</a> (REL) is planning to raise about US$117m through its upcoming India IPO. The lead bookrunners for the deal are ICICI, Jefferies.</li>
<li>REL is a real estate developer engaged across the full spectrum of real estate, with a focus on residential (affordable to luxury), commercial spaces, retail malls, and educational buildings.</li>
<li>As per JLL Report, between Jan 19 and Sept 24, Runwal Enterprises ranked 2nd in Mumbai for both new launches (5.69%) and sales (5.25%).</li>
</ul>



Runwal Enterprises Limited (2300329D IN) (REL) is planning to raise about US$117m through its upcoming India IPO. The lead bookrunners for the deal are ICICI, Jefferies.
REL is a real estate developer engaged across the full spectrum of real estate, with a focus on residential (affordable to luxury), commercial spaces, retail malls, and educational buildings.
As per JLL Report, between Jan 19 and Sept 24, Runwal Enterprises ranked 2nd in Mumbai for both new launches (5.69%) and sales (5.25%).


Beijing Yunji Technology Ltd / Equity Capital Markets

BYTL provides hospitality robotic AI agents, using advanced robotics and AI to enhance customer experiences. Its solutions include physical-interaction robots and AI-driven digitalization systems for streamlined decision-making and operational efficiency.

Beijing Yunji Technology Ltd (1860671D CH)

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<li>
<a href="https://www.smartkarma.com/entities/beijing-yunji-technology-ltd" target="_blank" data-smartkarma-citation="entities:45056:1" rel="noopener">Beijing Yunji Technology Ltd (1860671D CH)</a>  (BYTL) is planning to raise about US$100m through its upcoming Hong Kong IPO. The lead bookrunners for the deal are Citic, CBB International.</li>
<li>BYTL provides hospitality robotic AI agents, using advanced robotics and AI to enhance customer experiences. Its solutions include physical-interaction robots and AI-driven digitalization systems for streamlined decision-making and operational efficiency.</li>
<li>According to the F&amp;S Report, BYTL ranked first globally in 2024 among robotic AI agent companies with multi-layer adaptable robots, leading in concurrent robot operations and total consumers served.</li>
</ul>



Beijing Yunji Technology Ltd (1860671D CH)  (BYTL) is planning to raise about US$100m through its upcoming Hong Kong IPO. The lead bookrunners for the deal are Citic, CBB International.
BYTL provides hospitality robotic AI agents, using advanced robotics and AI to enhance customer experiences. Its solutions include physical-interaction robots and AI-driven digitalization systems for streamlined decision-making and operational efficiency.
According to the F&amp;S Report, BYTL ranked first globally in 2024 among robotic AI agent companies with multi-layer adaptable robots, leading in concurrent robot operations and total consumers served.


Beijing Yunji Technology Ltd Pre-IPO Tearsheet

At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. 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%

Rosita Fernandes
APAC IPOs & Placements
• Aequitas Research

Liuliu Orchard Group Co Ltd Pre-IPO Tearsheet

Liuliu Orchard Group (LLO HK) to raise $100m in Hong Kong IPO, leading producer of plum-based products in China's fruit snacks category with top...

Rosita Fernandes

IFBH Pte. Ltd Pre-IPO Tearsheet

IFBH to raise US$100m in Hong Kong IPO led by Citic, specializing in coconut water and plant-based products, dominating markets in mainland China...

Rosita Fernandes

IndiQube Spaces Pre-IPO - Capacity Has Been Expanding, Though Margins Remain Unstable

IndiQube Spaces Ltd is set to raise $100m in its India IPO, offering managed workplace solutions to enhance employee experience and efficiency.

Rosita Fernandes

Runwal Enterprises Ltd Pre-IPO Tearsheet

Runwal Enterprises Limited plans to raise $117m in India IPO with focus on residential, commercial, retail, and educational real estate. Ranked...

Rosita Fernandes

Beijing Yunji Technology Ltd Pre-IPO Tearsheet

Beijing Yunji Technology Ltd is set to raise $100m in its Hong Kong IPO, offering advanced robotic AI solutions for enhanced customer experiences.

Rosita Fernandes

Liuliu Orchard Group Co Ltd Pre-IPO Tearsheet

​Liuliu Orchard Group (LLO HK) to raise $100m in Hong Kong IPO, leading producer of plum-based products in China's fruit snacks category with top...

Rosita Fernandes

IFBH Pte. Ltd Pre-IPO Tearsheet

​IFBH to raise US$100m in Hong Kong IPO led by Citic, specializing in coconut water and plant-based products, dominating markets in mainland China...

Rosita Fernandes

IndiQube Spaces Pre-IPO - Capacity Has Been Expanding, Though Margins Remain Unstable

​IndiQube Spaces Ltd is set to raise $100m in its India IPO, offering managed workplace solutions to enhance employee experience and efficiency.

Rosita Fernandes

Runwal Enterprises Ltd Pre-IPO Tearsheet

​Runwal Enterprises Limited plans to raise $117m in India IPO with focus on residential, commercial, retail, and educational real estate. Ranked...

Rosita Fernandes

Beijing Yunji Technology Ltd Pre-IPO Tearsheet

​Beijing Yunji Technology Ltd is set to raise $100m in its Hong Kong IPO, offering advanced robotic AI solutions for enhanced customer experiences.

Rosita Fernandes

Liuliu Orchard Group (LLO HK) to raise $100m in Hong Kong IPO, leading producer of plum-based products in China's fruit snacks category with top...

IFBH to raise US$100m in Hong Kong IPO led by Citic, specializing in coconut water and plant-based products, dominating markets in mainland China...

IndiQube Spaces Ltd is set to raise $100m in its India IPO, offering managed workplace solutions to enhance employee experience and efficiency.

Runwal Enterprises Limited plans to raise $117m in India IPO with focus on residential, commercial, retail, and educational real estate. Ranked...

Beijing Yunji Technology Ltd is set to raise $100m in its Hong Kong IPO, offering advanced robotic AI solutions for enhanced customer experiences.