APAC IPOs & Placements, Aequitas Research

Troy Wong

APAC 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.

Equity Capital Markets

<ul>
<li>Huge Dental (HD) is looking to raise about US$100mn in its upcoming Hong Kong IPO. The deal will be run by CICC and DBS.</li>
<li>As a leading dental material company among domestic players in China, HD offers dental clinical products, dental laboratory products and dental digital products in various application scenarios.</li>
<li>HD primarily sells across 6 continents, with China, Europe, U.S., and SEA being the primary markets.</li>
</ul>


Huge Dental (HD) is looking to raise about US$100mn in its upcoming Hong Kong IPO. The deal will be run by CICC and DBS.
As a leading dental material company among domestic players in China, HD offers dental clinical products, dental laboratory products and dental digital products in various application scenarios.
HD primarily sells across 6 continents, with China, Europe, U.S., and SEA being the primary markets.


HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Since HUGE ranks in the first tier among domestic brands, the import substitution would be the main logic to continue driving the performance growth based on its strong cost effectiveness.</li>
<li>If HUGE wants to achieve success in non-advantageous areas in the future, reducing price to compete for more market share could be an essential means. VBP is also a challenge.</li>
<li>Comparable companies include <a href="https://www.smartkarma.com/entities/shandong-sinocera-functional-material-a" target="_blank" data-smartkarma-citation="entities:6865:1" rel="noopener">Sinocera Functional Material</a>, <a href="https://www.smartkarma.com/entities/yantai-zhenghai-bio-tech-co-ltd" target="_blank" data-smartkarma-citation="entities:29760:1" rel="noopener">Yantai Zhenghai Bio-Tech</a>, Angelalign, <a href="https://www.smartkarma.com/entities/modern-dental-group-ltd" target="_blank" data-smartkarma-citation="entities:21020:1" rel="noopener">Modern Dental Group</a>, <a href="https://www.smartkarma.com/entities/topchoice-medical-corporation" target="_blank" data-smartkarma-citation="entities:1102:1" rel="noopener">Topchoice Medical</a>. We think valuation of HUGE could be higher than peers due to higher profitability.</li>
</ul>


Since HUGE ranks in the first tier among domestic brands, the import substitution would be the main logic to continue driving the performance growth based on its strong cost effectiveness.
If HUGE wants to achieve success in non-advantageous areas in the future, reducing price to compete for more market share could be an essential means. VBP is also a challenge.
Comparable companies include Sinocera Functional Material, Yantai Zhenghai Bio-Tech, Angelalign, Modern Dental Group, Topchoice Medical. We think valuation of HUGE could be higher than peers due to higher profitability.


Pre-IPO Huge Dental Limited - The Business and the Concerns Behind

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Huge Dental (HUGE HK)

Huge Dental Pre-IPO Tearsheet

Huge Dental plans to raise US$100mn in Hong Kong IPO, offering a range of dental products globally through key markets in China, Europe, U.S., and...

Troy Wong

Pre-IPO Huge Dental Limited - The Business and the Concerns Behind

Import substitution and cost effectiveness drive HUGE's performance growth, but competing in non-advantageous areas may require price reduction...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Huge Dental Pre-IPO Tearsheet

​Huge Dental plans to raise US$100mn in Hong Kong IPO, offering a range of dental products globally through key markets in China, Europe, U.S., and...

Troy Wong

Pre-IPO Huge Dental Limited - The Business and the Concerns Behind

​Import substitution and cost effectiveness drive HUGE's performance growth, but competing in non-advantageous areas may require price reduction...

Xinyao (Criss) Wang

Huge Dental plans to raise US$100mn in Hong Kong IPO, offering a range of dental products globally through key markets in China, Europe, U.S., and...

Import substitution and cost effectiveness drive HUGE's performance growth, but competing in non-advantageous areas may require price reduction...