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.

Equity Capital Markets

Shenzhen Immunofoco / Equity Capital Markets

<ul>
<li>Shenzhen Immunofoco, a China-based biotech, is looking to raise at least USD 100 million via a Hong Kong listing. Huatai is the sole sponsor.</li>
<li>In this note, we look at the company's one late-stage core product, IMC002.</li>
<li>We also look at the company's pre-IPO investors and management team.</li>
</ul>


Shenzhen Immunofoco, a China-based biotech, is looking to raise at least USD 100 million via a Hong Kong listing. Huatai is the sole sponsor.
In this note, we look at the company's one late-stage core product, IMC002.
We also look at the company's pre-IPO investors and management team.


Shenzhen Immunofoco (易慕峰) Pre-IPO: Structural Challenge for Monetization

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.

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, most of the listings this week didn't do much.</li>
<li>On the placement front, given the market volatility, there weren't any large deals. We did look at some of the upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, most of the listings this week didn't do much.
On the placement front, given the market volatility, there weren't any large deals. We did look at some of the upcoming lockup expiries.


Aequitas ECM Weekly (16 March 2026)- Past A/H Trends, Delton, Raajmarg, Ringpai, FS.com, Everdisplay

China

Shenzhen Immunofoco Biotechnology Co., Ltd. develops innovative cell therapies. The Company produces anti-CLDN18.2 CAR-T cell therapy candidate (IMC002) for treatment of solid tumors and anti-EpCAM CAR-T cell therapy candidate (IMC001). Shenzhen Immunofoco Biotechnology conducts businesses in China.

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Shenzhen Immunofoco (2633140D HK)

Shenzhen Immunofoco (易慕峰) Pre-IPO: Structural Challenge for Monetization

China's Shenzhen Immunofoco seeks to raise $100 million through Hong Kong listing with Huatai as sole sponsor. We look at its late-stage product...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (16 March 2026)- Past A/H Trends, Delton, Raajmarg, Ringpai, FS.com, Everdisplay

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shenzhen Immunofoco (易慕峰) Pre-IPO: Structural Challenge for Monetization

​China's Shenzhen Immunofoco seeks to raise $100 million through Hong Kong listing with Huatai as sole sponsor. We look at its late-stage product...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (16 March 2026)- Past A/H Trends, Delton, Raajmarg, Ringpai, FS.com, Everdisplay

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

China's Shenzhen Immunofoco seeks to raise $100 million through Hong Kong listing with Huatai as sole sponsor. We look at its late-stage product...