Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/h-pio-co-ltd" target="_blank" data-smartkarma-citation="entities:32204:1" rel="noopener">H.PIO (357230 KS)</a> is getting ready to complete its IPO in April. The IPO price range is from 22,200 won and 25,400 won. The IPO base deal size is from $78 million to $89 million. According to the bankers' valuation, the expected market cap is from 443 billion to 506 billion won. The book building for the institutional investors starts on 5 April 2021. Established in April 2012, H.Pio is one of the largest functional health food companies in Korea. H.Pio has accumulated brand loyalty among many consumers, releasing a number of top-tier products centering on its premium brand Denps. Its major products include probiotics (Denmark Probiotics Story), vitamins (Truvitamin), and collagen (Young Collagen Inner Seal). H.Pio's strong partnerships with CHR Hansen (Denmark) and DSM (Netherlands) are important competitive strengths of the company. CHR Hansen is a global leader in probiotics products. H.Pio imports numerous probiotics, vitamins, and other functional food products from companies such as CHR Hansen and DSM and sells them in Korea. The company has experienced an excellent growth in sales growth in the past several years. Its sales jumped by 143.7% YoY in 2020. It sales increased by 71.6% CAGR from 2017 to 2020. H.Pio's operating margins averaged 17.5% from 2017 to 2020.

H.PIO (357230 KS) is getting ready to complete its IPO in April. The IPO price range is from 22,200 won and 25,400 won. The IPO base deal size is from $78 million to $89 million. According to the bankers' valuation, the expected market cap is from 443 billion to 506 billion won. The book building for the institutional investors starts on 5 April 2021. Established in April 2012, H.Pio is one of the largest functional health food companies in Korea. H.Pio has accumulated brand loyalty among many consumers, releasing a number of top-tier products centering on its premium brand Denps. Its major products include probiotics (Denmark Probiotics Story), vitamins (Truvitamin), and collagen (Young Collagen Inner Seal). H.Pio's strong partnerships with CHR Hansen (Denmark) and DSM (Netherlands) are important competitive strengths of the company. CHR Hansen is a global leader in probiotics products. H.Pio imports numerous probiotics, vitamins, and other functional food products from companies such as CHR Hansen and DSM and sells them in Korea. The company has experienced an excellent growth in sales growth in the past several years. Its sales jumped by 143.7% YoY in 2020. It sales increased by 71.6% CAGR from 2017 to 2020. H.Pio's operating margins averaged 17.5% from 2017 to 2020. 

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's healthcare industry. Medisetter is an international online medical travel search and bookings platform offering a one-stop-shop medical travel booking and planning service. Prospective patients can search and compare hospitals and clinics across different countries, receive price quotes, book appointments and also book accommodation, translators and…

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's healthcare industry. Medisetter is an international online medical travel search and bookings platform offering a one-stop-shop medical travel booking and planning service. Prospective patients can search and compare hospitals and clinics across different countries, receive price quotes, book appointments and also book accommodation, translators and…

MediSetter Interview: Insight on Opportunities in Asia's Healthcare Industry

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a biosimilar maker either. It makes new biomedical products. A majority of Korea's pharmaceutical makers are still generic drug makers. The likes of Celltrion and Samsung Bioepis have emerged as a biosimilar maker. But they are still a few. Biomedical makers are even rarer. Hanmi Pharmaceutical is one of these rare breeds. Now, another biomedical maker…

SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a biosimilar maker either. It makes new biomedical products. A majority of Korea's pharmaceutical makers are still generic drug makers. The likes of Celltrion and Samsung Bioepis have emerged as a biosimilar maker. But they are still a few. Biomedical makers are even rarer. Hanmi Pharmaceutical is one of these rare breeds. Now, another biomedical maker…

SillaJen's December IPO: Valuation, Growth Expectation and IPO Timing

South Korea

Cell Biotech Co., Ltd. develops and manufactures lactic ferments powders and finished products for healthy foods and nutrition.  The Company also provides its products on an original equipment manufacturer (OEM) basis.

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Cell Biotech (049960 KS)

H.PIO IPO Preview

H.Pio is one of the largest functional health food companies in Korea, is getting ready for an IPO in Korea in April. The expected market cap is...

Douglas Kim

MediSetter Interview: Insight on Opportunities in Asia's Healthcare Industry

Introduction to MedisetterI had the pleasure of interviewing Anirban Lahiri of Medisetter to discuss some of the opportunities present in Asia's...

Nomadic Equity

SillaJen's December IPO: Valuation, Growth Expectation and IPO Timing

SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a...

Sanghyun Park

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