Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

LG Energy Solution / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.</li>
<li>In Korea, <a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution (LGENERGY KS)</a> has finally filed its prospectus for US$10.8bn IPO after some delays earlier this year.</li>
<li>Hong Kong IPO sentiment has been abysmal. It was reported that <a href="https://www.smartkarma.com/entities/sensetime-group" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (1475539D HK)</a> delayed its IPO after the U.S. ban report.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
In Korea, LG Energy Solution (LGENERGY KS) has finally filed its prospectus for US$10.8bn IPO after some delays earlier this year.
Hong Kong IPO sentiment has been abysmal. It was reported that SenseTime Group (1475539D HK) delayed its IPO after the U.S. ban report.


ECM Weekly (12th December 2021) - LG Energy, SenseTime (Delayed), Didi, Kanzhun & Full Truck Lock-Up

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

<ul>
<li>Lepu Biopharma is a biotech spin-off of A-share listed Lepu Medical. The company is looking to raise up to USD 200 million via a Hong Kong listing.</li>
<li>We look at the company's core products, including HX008, LP002, MRG003 and MRG002. The products have their own differentiating factors to tackle the intense competition</li>
<li>We think the company management lack track record in drug development and investors are mostly domestic individuals and funds.</li>
</ul>


Lepu Biopharma is a biotech spin-off of A-share listed Lepu Medical. The company is looking to raise up to USD 200 million via a Hong Kong listing.
We look at the company's core products, including HX008, LP002, MRG003 and MRG002. The products have their own differentiating factors to tackle the intense competition
We think the company management lack track record in drug development and investors are mostly domestic individuals and funds.


Lepu Biopharma (乐普生物科技) Pre-IPO: Differentiation Strategy for Intense Competition

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

The PD-1/L1 market is one of the most competitive drug markets in the world. After <a href="https://www.smartkarma.com/entities/lepu-biopharma-co-ltd" target="_blank" data-smartkarma-citation="entities:33231:1" rel="noopener">Lepu Biopharma (LBP HK)</a>, whose core product is PD-1, officially started its IPO process in HKEX in April this year, another bio-pharmaceutical company, <a href="https://www.smartkarma.com/entities/3d-medicines-inc" target="_blank" data-smartkarma-citation="entities:33790:1" rel="noopener">3D Medicines (3DM HK)</a> (“3DMed”) submitted its prospectus to the HKEX on June, 30, 2021 based on its core product PD-1 as well. 3DMed is committed to the development and commercialization of a new generation of immuno-oncology therapies with differentiated clinical profile in response to the trend of treating cancer as a chronic disease. This insight mainly analyzed its core product and the pipeline.

The PD-1/L1 market is one of the most competitive drug markets in the world. After Lepu Biopharma (LBP HK), whose core product is PD-1, officially started its IPO process in HKEX in April this year, another bio-pharmaceutical company, 3D Medicines (3DM HK) (“3DMed”) submitted its prospectus to the HKEX on June, 30, 2021 based on its core product PD-1 as well. 3DMed is committed to the development and commercialization of a new generation of immuno-oncology therapies with differentiated clinical profile in response to the trend of treating cancer as a chronic disease. This insight mainly analyzed its core product and the pipeline.

Pre-IPO 3D Medicines - Insights on the Core Product, the Pipeline and the Concerns

LEPU ScienTech Medical Technology / Equity Capital Markets

LEPU ScienTech Medical Technology (2291 HK)

After <a href="https://www.smartkarma.com/entities/lepu-biopharma-co-ltd" target="_blank" data-smartkarma-citation="entities:33231:1" rel="noopener">Lepu Biopharma (LBP HK)</a> submitted its application for listing on HKEX, on June 25, 2021, <a href="https://www.smartkarma.com/entities/lepu-scientech-medical-technology-shanghai-co-ltd" target="_blank" data-smartkarma-citation="entities:33578:1" rel="noopener">Lepu Scientech Medical Technology (Shanghai) (LSM HK)</a> also submitted its prospectus to the HKEX and applied for listing on the main board. It is expected that the spin-off and listing plan of several companies in “Lepu factions” would continue. However, under the frequent capital operation, how is the prospects of Lepu Scientech? This article mainly analyzed the industry characteristics, the business and the outlook of the Company.

After Lepu Biopharma (LBP HK) submitted its application for listing on HKEX, on June 25, 2021, Lepu Scientech Medical Technology (Shanghai) (LSM HK) also submitted its prospectus to the HKEX and applied for listing on the main board. It is expected that the spin-off and listing plan of several companies in “Lepu factions” would continue. However, under the frequent capital operation, how is the prospects of Lepu Scientech? This article mainly analyzed the industry characteristics, the business and the outlook of the Company.

Pre-IPO Lepu Scientech Medical Technology - High Gross Margin Does Not Mean High Moat

Recently, <a href="https://www.smartkarma.com/entities/transcenta-holding-limited" target="_blank" data-smartkarma-citation="entities:33523:1" rel="noopener">Transcenta Holding (THL HK)</a> has passed the listing hearing of the HKEX and is expected to be listed on the main board in the near future. Transcenta is a clinical stage global biopharmaceutical company that integrates the capacities of discovery, research, development, manufacturing and business development, with nine product candidates in the pipeline, eight of which are oncology drug candidates. This insight mainly analyzed the important product candidates (such as MSB2311, TST001, TST005 and MSB0254) in the pipeline and related concerns.

Recently, Transcenta Holding (THL HK) has passed the listing hearing of the HKEX and is expected to be listed on the main board in the near future. Transcenta is a clinical stage global biopharmaceutical company that integrates the capacities of discovery, research, development, manufacturing and business development, with nine product candidates in the pipeline, eight of which are oncology drug candidates. This insight mainly analyzed the important product candidates (such as MSB2311, TST001, TST005 and MSB0254) in the pipeline and related concerns. 

Pre-IPO Transcenta Holding - Insights on Pipeline and the Concerns

China

Lepu Biopharma Co. Ltd. is an innovation-driven biopharmaceutical company focused on discovering, developing, and commercializing drug candidates in anti-tumor targeted therapy and oncology immunotherapy. The company's pipeline includes ADCs, immunotherapies, and oncolytic virus drugs, with commercial products like Puyouheng and Meiyouheng. It was founded in 2018 and is headquartered in Shanghai, China.

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

Lepu Biopharma (2157 HK)

ECM Weekly (12th December 2021) - LG Energy, SenseTime (Delayed), Didi, Kanzhun & Full Truck Lock-Up

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

Sumeet Singh

Lepu Biopharma (乐普生物科技) Pre-IPO: Differentiation Strategy for Intense Competition

Lepu Biopharma is a biotech subsidiary of A-share listed Lepu Medical seeking a listing in Hong Kong. We look at the company's core products...

Ke Yan, CFA, FRM

Pre-IPO 3D Medicines - Insights on the Core Product, the Pipeline and the Concerns

This insight mainly analyzed 3D Medicines in terms of its core product envafolimab (the competition pattern and prospects), clinical-stage product...

Xinyao (Criss) Wang

Pre-IPO Lepu Scientech Medical Technology - High Gross Margin Does Not Mean High Moat

This article mainly analyzed Lepu Scientech in terms of industry characteristics, related policies, the business, competition pattern, financial...

Xinyao (Criss) Wang

Pre-IPO Transcenta Holding - Insights on Pipeline and the Concerns

The article mainly analyzed Transcenta Holding in terms of its important product candidates MSB2311, TST001, TST005 and MSB0254,including the...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)