APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

Indegene Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indegene-limited" target="_blank" data-smartkarma-citation="entities:36629:1" rel="noopener">Indegene Limited (1864095D IN)</a> raised around US$220m in its India IPO, via selling a mix of primary and secondary shares.</li>
<li>Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.</li>
<li>We had looked at the firm’s past performance and shared our thoughts on Indegene’s valuation in earlier notes. In this note, we will look at the trading dynamics.</li>
</ul>



Indegene Limited (1864095D IN) raised around US$220m in its India IPO, via selling a mix of primary and secondary shares.
Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.
We had looked at the firm’s past performance and shared our thoughts on Indegene’s valuation in earlier notes. In this note, we will look at the trading dynamics.


Indegene IPO Trading - High Anchor Quality + Strong Demand, Expect a Pop on Debut

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC Cayman (2268 HK)</a> was listed in Hong Kong on 17th Nov 2023 after raising US$470m. Its six-month lockup will expire on 16th May 2024.</li>
<li>WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



WuXi XDC Cayman (2268 HK) was listed in Hong Kong on 17th Nov 2023 after raising US$470m. Its six-month lockup will expire on 16th May 2024.
WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Wuxi XDC Lock-Up - US$300m Lockup Expiry Could See Some Selling Owing to the Regulatory Overhang

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indegene-limited" target="_blank" data-smartkarma-citation="entities:36629:1" rel="noopener">Indegene Limited (1864095D IN)</a> is looking to raise US$220m in its India IPO, via selling a mix of primary and secondary shares.</li>
<li>Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.</li>
<li>In this note, we will look at peers and discuss our thoughts on valuation.</li>
</ul>



Indegene Limited (1864095D IN) is looking to raise US$220m in its India IPO, via selling a mix of primary and secondary shares.
Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.
In this note, we will look at peers and discuss our thoughts on valuation.


Indegene IPO - Marquee Clients, Strong Track Record, Decent Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indegene-limited" target="_blank" data-smartkarma-citation="entities:36629:1" rel="noopener">Indegene Limited (1864095D IN)</a> is looking to raise about US$220m in its upcoming India IPO.</li>
<li>Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.</li>
<li>We looked at the firm’s past performance in an earlier note. In this note, we look at the RHP updates.</li>
</ul>



Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO.
Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.
We looked at the firm’s past performance in an earlier note. In this note, we look at the RHP updates.


Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/daiichi-sankyo-co-ltd" target="_blank" data-smartkarma-citation="entities:3014:1" rel="noopener">Daiichi Sankyo (4568 JP)</a> has reported better-than-expected 3QFY24 results, with double-digit growth in revenue and profit, mainly driven by global mainstay products such as Enhertu and Lixiana, and favorable forex.</li>
<li>Driven by favorable Fx, sales increase from couple of products, and litigation payment, the company raised FY24 revenue, core operating profit, and net profit forecast 2%, 16%, and 30%, respectively.</li>
<li>FDA set an action date for Daiichi Sankyo’s second ADC drug candidate HER3-DXd of June 26 and for Dato-DXd of December 20. Both are for various types of lung cancers.</li>
</ul>



Daiichi Sankyo (4568 JP) has reported better-than-expected 3QFY24 results, with double-digit growth in revenue and profit, mainly driven by global mainstay products such as Enhertu and Lixiana, and favorable forex.
Driven by favorable Fx, sales increase from couple of products, and litigation payment, the company raised FY24 revenue, core operating profit, and net profit forecast 2%, 16%, and 30%, respectively.
FDA set an action date for Daiichi Sankyo’s second ADC drug candidate HER3-DXd of June 26 and for Dato-DXd of December 20. Both are for various types of lung cancers.


Daiichi Sankyo (4568 JP): Second Time FY24 Guidance Raise; Event Heavy FY25 With 2 New Drug Approval

United States

Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets medicines for humans and animals.  The Company's products include prescription pharmaceuticals, non-prescription self-medications, and animal health products such as anti-infective medicines and vaccines.

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Pfizer Inc (PFE US)

Indegene IPO Trading - High Anchor Quality + Strong Demand, Expect a Pop on Debut

Indegene Limited (1864095D IN) raised around US$220m in its India IPO, via selling a mix of primary and secondary shares. In this note, we will...

Clarence Chu

Wuxi XDC Lock-Up - US$300m Lockup Expiry Could See Some Selling Owing to the Regulatory Overhang

WuXi XDC Cayman (2268 HK) was listed in Hong Kong on 17th Nov 2023 after raising US$470m. Its six-month lockup will expire on 16th May 2024.

Clarence Chu

Indegene IPO - Marquee Clients, Strong Track Record, Decent Valuation

Indegene Limited (1864095D IN) is looking to raise US$220m in its India IPO, via selling a mix of primary and secondary shares.

Clarence Chu

Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO. We looked at the firm’s past performance in an earlier...

Clarence Chu

Daiichi Sankyo (4568 JP): Second Time FY24 Guidance Raise; Event Heavy FY25 With 2 New Drug Approval

Daiichi Sankyo raised FY24 revenue, core op. profit, and net profit forecast by 2%, 16%, and 30%, respectively. FDA set action dates for HER3-DXd...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indegene IPO Trading - High Anchor Quality + Strong Demand, Expect a Pop on Debut

Indegene Limited (1864095D IN) raised around US$220m in its India IPO, via selling a mix of primary and secondary shares. In this note, we will...

Clarence Chu

Wuxi XDC Lock-Up - US$300m Lockup Expiry Could See Some Selling Owing to the Regulatory Overhang

WuXi XDC Cayman (2268 HK) was listed in Hong Kong on 17th Nov 2023 after raising US$470m. Its six-month lockup will expire on 16th May 2024.

Clarence Chu

Indegene IPO - Marquee Clients, Strong Track Record, Decent Valuation

Indegene Limited (1864095D IN) is looking to raise US$220m in its India IPO, via selling a mix of primary and secondary shares.

Clarence Chu

Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO. We looked at the firm’s past performance in an earlier...

Clarence Chu

Daiichi Sankyo (4568 JP): Second Time FY24 Guidance Raise; Event Heavy FY25 With 2 New Drug Approval

​Daiichi Sankyo raised FY24 revenue, core op. profit, and net profit forecast by 2%, 16%, and 30%, respectively. FDA set action dates for HER3-DXd...

Tina Banerjee

Daiichi Sankyo raised FY24 revenue, core op. profit, and net profit forecast by 2%, 16%, and 30%, respectively. FDA set action dates for HER3-DXd...