IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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

<p><a href="https://www.smartkarma.com/entities/abbisko-cayman-limited" target="_blank" data-smartkarma-citation="entities:33511:1" rel="noopener">Abbisko Cayman (ABB HK)</a> is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative and differentiated small molecule oncology therapies. Abbisko has developed a pipeline of 14 candidates focused on oncology, including five candidates at the clinical stage The core products are ABSK091, a pan-FGFR inhibitor licensed from <a href="https://www.smartkarma.com/entities/astrazeneca-plc" target="_blank" data-smartkarma-citation="entities:21824:1" rel="noopener">AstraZeneca PLC (AZN LN)</a> and ABSK011, an FGFR4 inhibitor. Abbisko is pre-marketing an HKEx IPO to raise $300 million, according to press reports. </p><p>Abbisko has a credible management team with a commendable commercialisation track record. The three co-founders together have made contributions to several discovery programs, several of which led to successful commercialisation. Abbisko also has several blue-chip backers such as Lilly Asia Ventures, Sinopharm Capital, Qiming Venture Capital, GIC, Temasek, <a href="https://www.smartkarma.com/entities/carlyle-group-inc" target="_blank" data-smartkarma-citation="entities:33402:1" rel="noopener">Carlyle Group Inc (CG US)</a>, Lake Bleu Capital and OrbiMed. </p><div class="content-highlight"><p>While both core products are at an early stage of development, promising results from trials, management’s track record and the exceptional line-up of blue-chip backers suggest that the product candidates have the potential to succeed in a fiercely competitive market. Overall, we believe that Abbisko is worth a closer look. </p></div>

Abbisko Cayman (ABB HK) is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative and differentiated small molecule oncology therapies. Abbisko has developed a pipeline of 14 candidates focused on oncology, including five candidates at the clinical stage The core products are ABSK091, a pan-FGFR inhibitor licensed from AstraZeneca PLC (AZN LN) and ABSK011, an FGFR4 inhibitor. Abbisko is pre-marketing an HKEx IPO to raise $300 million, according to press reports. Abbisko has a credible management team with a commendable commercialisation track record. The three co-founders together have made contributions to several discovery programs, several of which led to successful commercialisation. Abbisko also has several blue-chip backers such as Lilly Asia Ventures, Sinopharm Capital, Qiming Venture Capital, GIC, Temasek, Carlyle Group Inc (CG US), Lake Bleu Capital and OrbiMed. While both core products are at an early stage of development, promising results from trials, management’s track record and the exceptional line-up of blue-chip backers suggest that the product candidates have the potential to succeed in a fiercely competitive market. Overall, we believe that Abbisko is worth a closer look. 

Abbisko IPO: A Promising but Longer Term Prognosis

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Johnson & Johnson / Equity Capital Markets

<ul><li>Johnson & Johnson had a dream Q2 result with global sales touching $23.3 billion, a growth of a staggering 27.1% as compared to the second quarter of 2020.</li><li>The company has been performing well across all core segments and the big surprise for investors was the recovery in the Baby Care franchise which increased by 5% due to market recovery and OUS strength.</li><li>The company has a strong upside from robotic surgical systems as well as increased penetration of its easy-to-store, single-dose vaccine in markets like India.</li></ul>

Johnson & Johnson had a dream Q2 result with global sales touching $23.3 billion, a growth of a staggering 27.1% as compared to the second quarter of 2020.The company has been performing well across all core segments and the big surprise for investors was the recovery in the Baby Care franchise which increased by 5% due to market recovery and OUS strength.The company has a strong upside from robotic surgical systems as well as increased penetration of its easy-to-store, single-dose vaccine in markets like India.

Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

Equity Bottom-Up

<ul>
<li>I seldom touched those unpredicatble biotech stocks, but Bioventix is an exception;</li>
<li>The company provides a bond-like cash streams for its owners, through a well-moated, highly predictable business model;</li>
<li>Although it is not clear whether the share can offer a 20% total return at this price level, I see a high chance for it to outperform the market benchmark with a limited downside from here in the long run.</li>
</ul>


I seldom touched those unpredicatble biotech stocks, but Bioventix is an exception;
The company provides a bond-like cash streams for its owners, through a well-moated, highly predictable business model;
Although it is not clear whether the share can offer a 20% total return at this price level, I see a high chance for it to outperform the market benchmark with a limited downside from here in the long run.


Bioventix: A Rare Biotech Play with a Low-Risk, High-Return Model

Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

Credit

US markets extended the rebound rally for a second day amid strong corporate earnings –  S&amp;P and Nasdaq gained 0.8% and 0.9% respectively. Energy zoomed 3.9% with Brent Crude going back above $70/bbl, Financials and Industrials were up more than 1%. Corporate earnings continued with Coca Cola, J&amp;J, Verizon and Julius Baer reporting strong numbers (scroll down for details). US 10Y Treasury yields rose 8bp to 1.29%. European bourses also extended their gains – CAC, FTSE and DAX were up 1.9%, 1.7% and 1.4% respectively. US IG CDS spreads tightened 1bp and HY tightened 8bp. EU Main and Crossover spreads tightened 1.6bp and 8.1bp respectively. Brazil’s Bovespa was up 0.4%. Gulf markets remained closed for Eid. Asian markets continued the strong momentum and opened higher – HSI was up 1.9%, Nikkei and Singapore’s STI were up 0.6% and Shanghai was up 0.2%. Asia ex-Japan CDS spreads were 0.4bp tighter.

CK Infra, Ping An Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers &...

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<p>Due to the worsening COVID-19 conditions in Thailand, investors may sell off Airport of Thailand's share in the coming months although the long-term prospect remains solid; global inoculation is on the way and governments around the world keep tinkering with the travel bubble that helps to provide more ideas on how to restart travel, mainly in safe entry and quarantine protocols. </p>
<div class="content-highlight">
<p><strong>Therefore, investors should take advantage of the potential sell-off in <a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> to add and should benefit later when travel recovers. Third Wave is a Charm.</strong></p>
</div>

Due to the worsening COVID-19 conditions in Thailand, investors may sell off Airport of Thailand's share in the coming months although the long-term prospect remains solid; global inoculation is on the way and governments around the world keep tinkering with the travel bubble that helps to provide more ideas on how to restart travel, mainly in safe entry and quarantine protocols. 

Therefore, investors should take advantage of the potential sell-off in Airports of Thailand (AOT TB) to add and should benefit later when travel recovers. Third Wave is a Charm.


Airport of Thailand (AOT): 3rd Wave Is a Charm

United States

Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets.  The Company sells products such as skin and hair care products, acetaminophen products, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world.

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Johnson & Johnson (JNJ US)

Abbisko IPO: A Promising but Longer Term Prognosis

While both core products are at an early stage of development, promising trials, management’s track record and blue-chip backers suggest that the...

Arun George

Johnson & Johnson - Investment Thesis

Johnson & Johnson had a dream Q2 result with global sales touching $23.3 billion, a growth of a staggering 27.1% as compared to the second...

Baptista Research

Bioventix: A Rare Biotech Play with a Low-Risk, High-Return Model

Although it is not clear whether this bond proxy can offer a 20% total return at this level, I see a high chance for it to outperform the benchmark...

Steven Chen

CK Infra, Ping An Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers &...

US markets extended the rebound rally for a second day amid strong corporate earnings – S&P and Nasdaq gained 0.8% and 0.9% respectively....

BondEvalue

Airport of Thailand (AOT): 3rd Wave Is a Charm

The sell off AOT soon due to worsening conditions in the third wave of the COVID-19 outbreak.Investors should take advantage of the sell-off in...

Henry Soediarko

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