Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows for Bank of China, Tencent, China Mobile, CNOOC, ZTO, Anta.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows for Bank of China, Tencent, China Mobile, CNOOC, ZTO, Anta.


Hong Kong Connect Flows (Mar): 12 Month High of $9.8bn Inflows

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.


Hong Kong Connect Flows (Mar 28th): Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sciclone-pharmaceuticals-holdings-limited" target="_blank" data-smartkarma-citation="entities:17351:1" rel="noopener">Sciclone Pharmaceuticals (6600 HK)</a> disclosed a scheme privatisation offer from GL Capital at HK$18.80 per share, a 33.9% premium to the undisturbed price (HK$14.04 on 15 March).</li>
<li>The key condition is approval by at least 75% of disinterested shareholders (&lt;10% of all disinterested shareholders rejection). The Bank of China, which holds a blocking stake, should be supportive.</li>
<li>The offer price has been declared final. It is reasonable, aligning with the all-time high and the IPO price. This is a done deal.</li>
</ul>



Sciclone Pharmaceuticals (6600 HK) disclosed a scheme privatisation offer from GL Capital at HK$18.80 per share, a 33.9% premium to the undisturbed price (HK$14.04 on 15 March).
The key condition is approval by at least 75% of disinterested shareholders (&lt;10% of all disinterested shareholders rejection). The Bank of China, which holds a blocking stake, should be supportive.
The offer price has been declared final. It is reasonable, aligning with the all-time high and the IPO price. This is a done deal.


SciClone Pharma (6600 HK): GL Capital’s Scheme Offer at HK$18.80

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 22nd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent, Meituan.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of March 22nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent, Meituan.


Hong Kong Connect Flows (Mar 22nd): Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent

<ul>
<li>After rising 14% on Monday, <a href="https://www.smartkarma.com/entities/sciclone-pharmaceuticals-holdings-limited" target="_blank" data-smartkarma-citation="entities:17351:1" rel="noopener">Sciclone Pharmaceuticals (6600 HK)</a> entered a trading halt “<em>pending the release of an announcement pursuant to the Code on Takeovers and Mergers.</em>”</li>
<li>SciClone US was listed on NASDAQ in March 1992 and was privatised in October 2017 by a GL Capital-led consortium. It was relisted on the HKEx on 3 March 2021.</li>
<li>A GL Capital-led consortium will likely once again lead the privatisation. An offer price at or slightly above the IPO price (HK$18.80) would be sufficient to get the vote up.</li>
</ul>


After rising 14% on Monday, Sciclone Pharmaceuticals (6600 HK) entered a trading halt “pending the release of an announcement pursuant to the Code on Takeovers and Mergers.”
SciClone US was listed on NASDAQ in March 1992 and was privatised in October 2017 by a GL Capital-led consortium. It was relisted on the HKEx on 3 March 2021.
A GL Capital-led consortium will likely once again lead the privatisation. An offer price at or slightly above the IPO price (HK$18.80) would be sufficient to get the vote up.


SciClone Pharma (6600 HK): Privatisation Déjà Vu All over Again?

China

CSPC Pharmaceutical Group Limited, through its subsidiaries, manufactures and sells pharmaceutical products.  The Company's products include vitamin C, antibiotics and common generic drugs. The Company is also engages in the development of innovative drugs and antibiotics.

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

CSPC Pharmaceutical Group (1093 HK)

Hong Kong Connect Flows (Mar): 12 Month High of $9.8bn Inflows

We analyzed the Hong Kong Connect Scheme for March and highlight flows for Bank of China, Tencent, China Mobile, CNOOC, ZTO, Anta.

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Mar 28th): Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Tencent, Bank Of China, China Mobile, Xiaomi, CNOOC.

Ke Yan, CFA, FRM

SciClone Pharma (6600 HK): GL Capital’s Scheme Offer at HK$18.80

The offer price has been declared final. It is reasonable, aligning with the all-time high and the IPO price. This is a done deal.

Arun George

Hong Kong Connect Flows (Mar 22nd): Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for Bank Of China, China Mobile, Xiaomi, Zto Express, Tencent,...

Ke Yan, CFA, FRM

SciClone Pharma (6600 HK): Privatisation Déjà Vu All over Again?

A GL Capital-led consortium will likely once again lead the privatisation. An offer price at or slightly above the IPO price (HK$18.80) would be...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)