Daily Brief Health Care: Giant Biogene Holding, PolyNovo Ltd, Tokyo Stock Exchange Tokyo Price Index Topix and more

In today’s briefing:

ECM Weekly (23rd Oct 2022) – Giant Biogene, Blibli, Bionote, Fusion Micro, Mitsubishi Estate
PolyNovo Ltd (PNV AU): Shares Are Rallying Fueled by Strong US Sales and New Product Approval
Prime Market Should Raise Market Cap Standards. Companies Should Take Measures to Raise Valuations

ECM Weekly (23rd Oct 2022) – Giant Biogene, Blibli, Bionote, Fusion Micro, Mitsubishi Estate

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, Blibli launched its Indonesian IPO, while a few other names are said to be gearing up to launch in Hong Kong and India.
There were a few placements this week, notable ones being Mitsubishi Estate Logistics (3481 JP) and Zee Entertainment Enterprises (Z IN).

PolyNovo Ltd (PNV AU) reported 73% y/y revenue growth to A$12.5M in Q1FY23, driven by the U.S. The company reported record high monthly sales of A$5.4M in September 2022.
The company is aggressively expanding team and the increased headcount is having the desired impact on sales growth and loss continues to be minimized compared to business expansion.
PolyNovo received FDA clearance for NovoSorb MTX, which expands PolyNovo’s U.S. addressable market by ~A$500M. The company plans to launch SynPath in the U.S. in 2023 (addressable market ~$400M).

There is a discrepancy between the prime market concept and the listing criteria of 10 billion yen in tradable market capitalization.
The most significant effect of the market restructuring was the elimination of parent-subsidiary listings, but companies are reluctant to discuss matters not explicitly addressed in the corporate governance code.
Increasing market capitalization is not an overnight solution, but companies should study the initiatives advanced by companies that have increased valuations and implement those initiatives.

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