APAC IPOs & Placements, Aequitas Research

Nicholas Tan

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

Cofoe Medical Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cofoe-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:45716:1" rel="noopener">Cofoe Medical Technology (1187 HK)</a> raised around US$136m in its Hong Kong IPO. </li>
<li>It was founded in 2009 (with its brand tracing back to 2007), and as per the prospectus, is a leading provider of home care medical devices in China.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Cofoe Medical Technology (1187 HK) raised around US$136m in its Hong Kong IPO. 
It was founded in 2009 (with its brand tracing back to 2007), and as per the prospectus, is a leading provider of home care medical devices in China.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Aequitas: Cofoe Medical IPO Trading - Weak Insti Subs but Cheaper than Peers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Cofoe Medical Technology, a home care medical devices provider in China, is seeking dual listing and has launched HK IPO consisting of 27M H shares at HK$39.33 per share.</li>
<li>The subscription period will close on April 30. The company intends to raise $136M to fund for global expansion, R&amp;D, domestic distribution network enhancement, and branding and marketing activities.</li>
<li>Despite competition and fragmented market, ability to record volume growth for almost all of the key products and margin improvement enhance conviction on the sustainable growth prospect of the company.</li>
</ul>


Cofoe Medical Technology, a home care medical devices provider in China, is seeking dual listing and has launched HK IPO consisting of 27M H shares at HK$39.33 per share.
The subscription period will close on April 30. The company intends to raise $136M to fund for global expansion, R&amp;D, domestic distribution network enhancement, and branding and marketing activities.
Despite competition and fragmented market, ability to record volume growth for almost all of the key products and margin improvement enhance conviction on the sustainable growth prospect of the company.


Cofoe Medical IPO: Portfolio Optimization Remains Key to Float Amid Fierce Competition

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cofoe-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:45716:1" rel="noopener">Cofoe Medical Technology (1187 HK)</a> launched its H-share IPO at HK$39.33, valuing the stock at 16.4x PER for FY26, a discount to the global peers.</li>
<li>Its 3-year EPS CAGR of 18.8% is ahead of the global average, but its market capitalisation of HK$9.3bn is materially smaller.</li>
<li>Using a 10% PER discount to global peers, it has a fair range of HK$41.8-45.2, which equals a reasonable 27-33% discount to its A-share <a href="https://www.smartkarma.com/entities/cofoe-medical-technology-co-lt" target="_blank" data-smartkarma-citation="entities:34791:1" rel="noopener">Cofoe Medical (301087 CH)</a>. </li>
</ul>



Cofoe Medical Technology (1187 HK) launched its H-share IPO at HK$39.33, valuing the stock at 16.4x PER for FY26, a discount to the global peers.
Its 3-year EPS CAGR of 18.8% is ahead of the global average, but its market capitalisation of HK$9.3bn is materially smaller.
Using a 10% PER discount to global peers, it has a fair range of HK$41.8-45.2, which equals a reasonable 27-33% discount to its A-share Cofoe Medical (301087 CH). 


Cofoe Medical Technology (1187 HK) IPO: Priced with Reasonable Potential Gain

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cofoe-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:45716:1" rel="noopener">Cofoe Medical Technology (CFMT HK)</a> is looking to raise up to US$135m in its upcoming Hong Kong IPO.</li>
<li>It was founded in 2009 (with its brand tracing back to 2007), and as per the prospectus, is a leading provider of home care medical devices in China. </li>
<li>In this note, we examine the IPO dynamics, and look at the firm’s valuation.</li>
</ul>



Cofoe Medical Technology (CFMT HK) is looking to raise up to US$135m in its upcoming Hong Kong IPO.
It was founded in 2009 (with its brand tracing back to 2007), and as per the prospectus, is a leading provider of home care medical devices in China. 
In this note, we examine the IPO dynamics, and look at the firm’s valuation.


Aequitas: Cofoe Medical A/H Listing - Discount to HK and International Med-Device Peers

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cofoe-medical-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:45716:1" rel="noopener">Cofoe Medical Technology (CFMT HK)</a> is looking to raise up to US$200m in its upcoming Hong Kong IPO.</li>
<li>It is a leading provider of home care medical devices in China, delivering integrated solutions that encompass product research and development, manufacturing, and omni-channel distribution.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Cofoe Medical Technology (CFMT HK) is looking to raise up to US$200m in its upcoming Hong Kong IPO.
It is a leading provider of home care medical devices in China, delivering integrated solutions that encompass product research and development, manufacturing, and omni-channel distribution.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Cofoe Medical Technology A/H Listing - Recovering from Post-Pandemic Slump

China

Cofoe Medical Technology Co. Ltd. specializes in the research, development, production, and sale of a wide range of medical devices. Its product portfolio includes health monitoring devices like blood pressure monitors and glucose meters, respiratory support equipment, rehabilitation aids such as wheelchairs, and in vitro diagnostic products. The company was founded in 2005 and is headquartered in Changsha, China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Cofoe Medical Technology (1187 HK)

Aequitas: Cofoe Medical IPO Trading - Weak Insti Subs but Cheaper than Peers

Cofoe Medical raised around US$136m in its HK IPO. We have covered various aspects of the deal in our previous note. In this note, we will talk...

Nicholas Tan

Cofoe Medical IPO: Portfolio Optimization Remains Key to Float Amid Fierce Competition

Cofoe Medical is seeking dual listing and has launched HK IPO consisting of 27M H shares at HK$39.33/share. The subscription period will close on...

Tina Banerjee