Abstract: Firmus pulled its USD 5.5bn ASX IPO. AS Watson's USD 30bn dual listing was reportedly delayed to 2027, and Moonshot reportedly eyes an HK IPO of up to USD 5bn. ESWIN, the week's only HK listing, raised USD 319m and fell 1.0% on day one. Eight listings in the past month have a median return of -2.5% since IPO. On HKEX, one company filed an AP and three posted PHIPs. Transsion's USD 428m A+H IPO lists on 15 Oct.
KUAISHOU, GUANGZHOU TINCI MATERIALS TECHNOLOGY, ORBBEC, HUNAN YUNENG NEW ENERGY BATTERY MATERIAL, TRANSSION, ESWIN COMPUTING, TRANSWARP, LIGENT, KINWONG, ROBOTECHNIK, DIRECT DRIVE, RA MATERIALS, CAMSENSE, SIGENERGY, GPIXEL, MANYCORE TECH, VGT, HUAQIN, MABWELL, XIZHI TECH-P, SUNMI TECH, STAR SPORTS MED, COFOE MEDICAL, Bayan Resources, Infroneer, UMC, Sodick, PTC INDUSTRIES, Ckd, CIG, BIREN TECH, WUXI BIO
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
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