IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Suzhou Basecare Medical / Equity Capital Markets

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<p><a href="https://www.smartkarma.com/entities/suzhou-basecare-medical-corporation-limited" target="_blank" data-smartkarma-citation="entities:31087:1" rel="noopener">Suzhou Basecare Medical (MED CH)</a> has developed a portfolio of genetic test kits that cover all key stages of the reproductive cycle. The initial focus of the product portfolio was on helping couples address infertility problems and increase their chances of having a healthy baby through IVF (in vitro fertilization) procedures.</p>
<p>At the proposed IPO price range of HK$26.36-27.36 per share, Basecare will have a market cap of HK$7,029.3-7,296.0 ($907-941 million). At the mid-point of the IPO price range, the total net proceeds are HK$1,684.7 million ($217 million). </p>
</div><div><p>Seven cornerstone investors will subscribe for $90 million of the offer shares (39.0% of the offer shares at the mid-point of the IPO price). The cornerstone investors include OrbiMed Funds, Lake Bleu Capital, CRF Investment, Affin Hwang Asset Management, WinTwin Capital, Foresight Funds and IvyRock Asset Management.</p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/suzhou-basecare-medical-ipo-initiation-improving-ivf" target="_blank" data-smartkarma-citation="insights:47352" rel="noopener">Suzhou Basecare Medical IPO Initiation: Improving IVF</a>, we stated that with a large addressable market opportunity and Basecare’s early mover advantage, we believe that Basecare’s fundamentals are attractive. Overall, we would participate in the IPO due to an attractive IPO price range.</p></div></div></div>


Suzhou Basecare Medical (MED CH) has developed a portfolio of genetic test kits that cover all key stages of the reproductive cycle. The initial focus of the product portfolio was on helping couples address infertility problems and increase their chances of having a healthy baby through IVF (in vitro fertilization) procedures.
At the proposed IPO price range of HK$26.36-27.36 per share, Basecare will have a market cap of HK$7,029.3-7,296.0 ($907-941 million). At the mid-point of the IPO price range, the total net proceeds are HK$1,684.7 million ($217 million). 
Seven cornerstone investors will subscribe for $90 million of the offer shares (39.0% of the offer shares at the mid-point of the IPO price). The cornerstone investors include OrbiMed Funds, Lake Bleu Capital, CRF Investment, Affin Hwang Asset Management, WinTwin Capital, Foresight Funds and IvyRock Asset Management.In Suzhou Basecare Medical IPO Initiation: Improving IVF, we stated that with a large addressable market opportunity and Basecare’s early mover advantage, we believe that Basecare’s fundamentals are attractive. Overall, we would participate in the IPO due to an attractive IPO price range.

Suzhou Basecare Medical IPO: Valuation Insights

APAC IPOs & Placements

Zhen Zhou, Toh

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.

Basecare Medical Device / Equity Capital Markets

<p>Basecare Medical is looking to raise up to US$235m in its Hong Kong IPO. </p><p>Basecare Medical (Basecare) is a genetic testing solutions provider for assisted reproduction in China. The company’s current core product, PGT-A kit, is the first and only third-generation IVF genetic test kit approved by the National Medical Products Administration (NMPA) in February 2020.</p><p>Our previous coverage of the IPO:</p><ul><li dir="ltr" aria-level="1"><p><a href="https://www.smartkarma.com/insights/basecare-medical-pre-ipo-genetic-testing-leader-in-china" target="_blank" data-smartkarma-citation="insights:47361" rel="noopener">Basecare Medical (贝康医疗) Pre-IPO - Genetic Testing Leader in China</a> </p></li></ul>

Basecare Medical is looking to raise up to US$235m in its Hong Kong IPO. Basecare Medical (Basecare) is a genetic testing solutions provider for assisted reproduction in China. The company’s current core product, PGT-A kit, is the first and only third-generation IVF genetic test kit approved by the National Medical Products Administration (NMPA) in February 2020.Our previous coverage of the IPO:Basecare Medical (贝康医疗) Pre-IPO - Genetic Testing Leader in China 

Basecare Medical (贝康医疗) IPO - A Leader in the Making

China

Suzhou Basecare Medical Corporation Limited operates as a genetic technology researching company. The Company provides a comprehensive clinical solution for reproductive health. Suzhou Basecare Medical also develops and markets innovative medical devices.

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Basecare Medical Device (2170 HK)

Suzhou Basecare Medical IPO: Valuation Insights

Basecare will raise net proceeds of $217 million at the mid-point of the IPO price range of HK$26.36-27.36 per share. Overall, we would participate...

Arun George

Basecare Medical (贝康医疗) IPO - A Leader in the Making

Basecare Medical (Basecare) is a genetic testing solutions provider for assisted reproduction in China. The company’s PGT-A kit is approved by the...

Zhen Zhou, Toh

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