Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m. 

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
 
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
 
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

Regulatory Information

  • Regulatory Status: Exempt from regulation

Sumeet Singh
  • Sumeet Singh

TDCX Inc. IPO

TDCX Inc, a Singapore-headquartered digital customer experience (CX) provider, is looking to raise up to US$338m in its upcoming US IPO. TDCX provides outsourcing services to clients in new economy sectors and traditional blue-chip clients undergoing digital transformation. As of Jun 21, it served 43 global clients and with 114 active campaigns. The firm has 10 offices across Asia, Europe and Latin America, namely, Singapore, the Philippines, Malaysia, Thailand, China, Japan, Spain, India, Colu...

Sumeet Singh
  • Sumeet Singh

Aditya Birla Sun Life AMC IPO

Aditya Birla Sun Life Asset Management Company’s (ABSL) shareholders aim to raise around US$369m via reducing their stake in the company’s Indian IPO. ABSL is the largest non-bank affiliated asset management company (AMC) in India by quarterly average assets under management (QAAUM) and the fourth largest AMC in India. according to CRISIL. ABSL managed total AUM of INR2.9tn across mutual funds, portfolio management services, offshore and real estate offerings, as of Jun 21. ABSL enjoys a str...

Zhen Zhou Toh
  • Zhen Zhou Toh

Appier Placement - Selldown by various investors

Several shareholders of Appier are looking to sell about 11m shares of the company in an International Secondary placement. In this note, we share our thoughts on the selldown and run the deal through ECM framework.

Zhen Zhou Toh
  • Zhen Zhou Toh
PRU PRUDENTIAL PLC (Insurance)

ECM Weekly (26th September 2021)

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Zhen Zhou Toh
  • Zhen Zhou Toh
8454 MOMO.COM (Retail)

momo.com Placement - Selldown by Woori, could be worth a small bet

Woori Home Shopping is looking to sell about 3.8m shares of momo.com. Woori Home Shopping will still hold about 7.9% stake in the company post share-sale. In this note, we share our thoughts on the selldown and run the deal through ECM framework.

Sumeet Singh
  • Sumeet Singh

TDCX Inc. IPO

TDCX Inc, a Singapore-headquartered digital customer experience (CX) provider, is looking to raise up to US$338m in its upcoming US IPO. TDCX provides outsourcing services to clients in new economy sectors and traditional blue-chip clients undergoing digital transformation. As of Jun 21, it served 43 global clients and with 114 active campaigns. The firm has 10 offices across Asia, Europe and Latin America, namely, Singapore, the Philippines, Malaysia, Thailand, China, Japan, Spain, India, Colu...

Sumeet Singh
  • Sumeet Singh

Aditya Birla Sun Life AMC IPO

Aditya Birla Sun Life Asset Management Company’s (ABSL) shareholders aim to raise around US$369m via reducing their stake in the company’s Indian IPO. ABSL is the largest non-bank affiliated asset management company (AMC) in India by quarterly average assets under management (QAAUM) and the fourth largest AMC in India. according to CRISIL. ABSL managed total AUM of INR2.9tn across mutual funds, portfolio management services, offshore and real estate offerings, as of Jun 21. ABSL enjoys a str...

Zhen Zhou Toh
  • Zhen Zhou Toh

Appier Placement - Selldown by various investors

Several shareholders of Appier are looking to sell about 11m shares of the company in an International Secondary placement. In this note, we share our thoughts on the selldown and run the deal through ECM framework.

Zhen Zhou Toh
  • Zhen Zhou Toh
PRU PRUDENTIAL PLC (Insurance)

ECM Weekly (26th September 2021)

Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.

Zhen Zhou Toh
  • Zhen Zhou Toh
8454 MOMO.COM (Retail)

momo.com Placement - Selldown by Woori, could be worth a small bet

Woori Home Shopping is looking to sell about 3.8m shares of momo.com. Woori Home Shopping will still hold about 7.9% stake in the company post share-sale. In this note, we share our thoughts on the selldown and run the deal through ECM framework.

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