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

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

Shanghai HeartCare Medcl(6609 HK): Comprehensive Stroke Produce Portfolio Comes with a Pinch of Salt

Heartcare (心玮医疗) IPO: Decent Upside Barring Negative Lawsuit Outcomes

Shanghai HeartCare (心玮医疗) Pre-IPO: Thoughts on Valuation

Shanghai HeartCare (上海心玮医疗) Pre-IPO: A Decent Story to Sell

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

Shanghai HeartCare Medical Technology / Equity Capital Markets

Shanghai HeartCare Medical Technology (6609 HK)

Shanghai HeartCare raised HKD 1,014 million (USD 131m) from its global offering and will list on the Hong Kong Stock Exchange on Friday, August 20th.
In our previous note, we looked at the company's two core products Captor and LAA Occluder. We think the Captor, a stent retrieving thrombectomy device, is the main selling point of the deal given its decent efficacy and safety data and it has already been approved by the NMPA. Market structure for Captor is characterized by the early stage of growth and dominance by MNC players and the company's product is the first approved domestic product with commendable data from head-to-head clinical trials. The company's management are mainly ex-employee from Microport Scientific, a leading international medical device player in China.
In this note, we look at the updates since our last note. The demand for the deal is strong from the retail side but weak on the institution side. We think the institutional investors are risk off for the deal given the overhang of legal proceedings and the weak sentiment on medical devices and hence the debut performance is likely under pressure. Otherwise we remain positive on the company from a valuation perspective.

Shanghai HeartCare raised HKD 1,014 million (USD 131m) from its global offering and will list on the Hong Kong Stock Exchange on Friday, August 20th.
In our previous note, we looked at the company's two core products Captor and LAA Occluder. We think the Captor, a stent retrieving thrombectomy device, is the main selling point of the deal given its decent efficacy and safety data and it has already been approved by the NMPA. Market structure for Captor is characterized by the early stage of growth and dominance by MNC players and the company's product is the first approved domestic product with commendable data from head-to-head clinical trials. The company's management are mainly ex-employee from Microport Scientific, a leading international medical device player in China.
In this note, we look at the updates since our last note. The demand for the deal is strong from the retail side but weak on the institution side. We think the institutional investors are risk off for the deal given the overhang of legal proceedings and the weak sentiment on medical devices and hence the debut performance is likely under pressure. Otherwise we remain positive on the company from a valuation perspective.

Zylox-Tonbridge Medical Technology (2190 HK)

Heartcare (心玮医疗) IPO Trading: Risk-Off for Institutional Investors