Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<div class="content-highlight"><p><a href="https://www.smartkarma.com/entities/sd-biosensor-inc" target="_blank" data-smartkarma-citation="entities:33333:1" rel="noopener">SD Biosensor (SDBIOZ KS)</a> is getting ready for an IPO in Korea next month. SD Biosensor will be one of the largest IPOs in Korea in 2021. The IPO price range is from 66,000 won to 85,000 won. At the high end of the IPO price range, the company will raise 1.3 trillion won. The bookbuilding for the institutional investors starts on 10 June. According to the bankers' valuation, at the high end of the IPO price range, the company would be valued at 8.9 trillion won ($7.9 billion). The lead underwriters of this IPO include NH Investment &amp; Securities and Korea Investment &amp; Securities. </p></div><p>Established in 2010, SD Biosensor is a bio-diagnostic company that provides in vitro diagnostic products. This is one of the biggest companies in Korea in the field of in-vitro diagnostic products. According to the company, it exported <a href="https://www.edaily.co.kr/news/read?newsId=03634246629015792&amp;mediaCodeNo=257&amp;OutLnkChk=Y" target="_blank" rel="noopener">400 million COVID-19 diagnostic kit</a> related products from 2020 to January 2021.</p><p>The company's sales surged from 73 billion won in 2019 to 1,686.2 billion won in 2020. Operating profit also jumped from 1.5 billion won in 2019 to 738.3 billion won in 2020.</p><table class="table table-striped">
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<col>
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<tbody>
<tr>
<td style="width: 212pt;">Deal Specifics of the SD Bioscience IPO:</td>
<td style="width: 409pt;"> </td>
</tr>
<tr>
<td>Lead underwriters of the IPO: </td>
<td style="width: 409pt;">NH Investment &amp; Securities, Korea Investment &amp; Securities</td>
</tr>
<tr>
<td>Expected IPO price per share: </td>
<td style="width: 409pt;">66,000 won (low)/85,000 won (high)</td>
</tr>
<tr>
<td>Number of Shares for IPO:</td>
<td style="width: 409pt;">15.55m shares (10.37m new shares; 5.18m old shares)</td>
</tr>
<tr>
<td>IPO base deal size: </td>
<td style="width: 409pt;">US$908m (low);  US$1,170m (high)</td>
</tr>
<tr>
<td>Expected common shares outstanding, fully diluted (post-IPO):  </td>
<td style="width: 409pt;">104.89m shares</td>
</tr>
<tr>
<td>Expected market cap after IPO:</td>
<td style="width: 409pt;">6,923 billion won (low)/8,916 billion won (high)</td>
</tr>
<tr>
<td>Book open: </td>
<td style="text-align: left; width: 409pt;">10-Jun-21</td>
</tr>
<tr>
<td>Book closed:</td>
<td style="text-align: left; width: 409pt;">11-Jun-21</td>
</tr>
<tr>
<td>Listing date: </td>
<td style="text-align: left; width: 409pt;">TBD</td>
</tr>
<tr>
<td>Source: Company data</td>
<td style="width: 409pt;"> </td>
</tr>
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</table>

SD Biosensor (SDBIOZ KS) is getting ready for an IPO in Korea next month. SD Biosensor will be one of the largest IPOs in Korea in 2021. The IPO price range is from 66,000 won to 85,000 won. At the high end of the IPO price range, the company will raise 1.3 trillion won. The bookbuilding for the institutional investors starts on 10 June. According to the bankers' valuation, at the high end of the IPO price range, the company would be valued at 8.9 trillion won ($7.9 billion). The lead underwriters of this IPO include NH Investment &amp; Securities and Korea Investment &amp; Securities. Established in 2010, SD Biosensor is a bio-diagnostic company that provides in vitro diagnostic products. This is one of the biggest companies in Korea in the field of in-vitro diagnostic products. According to the company, it exported 400 million COVID-19 diagnostic kit related products from 2020 to January 2021.The company's sales surged from 73 billion won in 2019 to 1,686.2 billion won in 2020. Operating profit also jumped from 1.5 billion won in 2019 to 738.3 billion won in 2020.






Deal Specifics of the SD Bioscience IPO:
 


Lead underwriters of the IPO: 
NH Investment &amp; Securities, Korea Investment &amp; Securities


Expected IPO price per share: 
66,000 won (low)/85,000 won (high)


Number of Shares for IPO:
15.55m shares (10.37m new shares; 5.18m old shares)


IPO base deal size: 
US$908m (low);  US$1,170m (high)


Expected common shares outstanding, fully diluted (post-IPO):  
104.89m shares


Expected market cap after IPO:
6,923 billion won (low)/8,916 billion won (high)


Book open: 
10-Jun-21


Book closed:
11-Jun-21


Listing date: 
TBD


Source: Company data
 




Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Our outlook remains cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several weeks. Near-term we are monitoring for S&amp;P 500 support near 2,600 (i.e., the October low) and resistance near 2,817 or the 100- and 50-day moving averages. In today’s report we outline our current concerns along with developments that would cause us to become more constructive on the market. We also highlight attractive set ups within the Financials, Consumer Discretionary, and Health Care Sectors.</p>

Our outlook remains cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several weeks. Near-term we are monitoring for S&amp;P 500 support near 2,600 (i.e., the October low) and resistance near 2,817 or the 100- and 50-day moving averages. In today’s report we outline our current concerns along with developments that would cause us to become more constructive on the market. We also highlight attractive set ups within the Financials, Consumer Discretionary, and Health Care Sectors.

U.S. Equity Strategy: Retest of October Lows Underway; Upgrading Financials

<p>As the S&amp;P 500 nears the 2,873 January high - a critical hurdle - short-term Sector leadership changes give us reason for pause. While we remain constructive overall, our expectations are tempered as the market finds itself a crossroad.  In today’s report we provide our U.S. equity strategy synopsis, and also highlight attractive stocks within the Health Care Sector.</p>

As the S&amp;P 500 nears the 2,873 January high - a critical hurdle - short-term Sector leadership changes give us reason for pause. While we remain constructive overall, our expectations are tempered as the market finds itself a crossroad.  In today’s report we provide our U.S. equity strategy synopsis, and also highlight attractive stocks within the Health Care Sector.

S&P 500: Outlook Constructive but Concerns Remain

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<p>While the US consumer health industry will remain a strong centre for investment, development and technology innovation in 2017 and is expected to reach US$77 billion by 2021, the election of Donald Trump has created uncertainty among the industry, government agencies and consumers, especially around regulations, local production incentives, and changes to the Affordable Care Act.</p>

While the US consumer health industry will remain a strong centre for investment, development and technology innovation in 2017 and is expected to reach US$77 billion by 2021, the election of Donald Trump has created uncertainty among the industry, government agencies and consumers, especially around regulations, local production incentives, and changes to the Affordable Care Act.

Trump Health Effect: What Is Next for the Consumer Health Industry Under Trump's Leadership?

Pharma/ Biotechnology Investments Specialist, Vasuda Capital Management

Dr. Bhavneesh Sharma, MD, MBA

Pharma/ Biotechnology Investments Specialist

Vasuda Capital Management

<p><a href="https://www.smartkarma.com/entities/17686" target="_blank" data-smartkarma-citation="entities:17686:1">Ziopharm Oncology Inc (ZIOP US)</a> announced impressive survival data for its immune-boosting therapy AD-RTS-hIL-12 + veledimex in recurrent pediatric malignant glioma (a form of deadly brain cancer). Median overall survival almost doubled to 12.8 months vs. currently available therapies. In addition, any toxic effects were reversible on stopping veledimex (which thus acts as a control switch for the therapy). Griffin Securities reissued buy rating with price target of US$21 after the data was…</p>

Ziopharm Oncology Inc (ZIOP US) announced impressive survival data for its immune-boosting therapy AD-RTS-hIL-12 + veledimex in recurrent pediatric malignant glioma (a form of deadly brain cancer). Median overall survival almost doubled to 12.8 months vs. currently available therapies. In addition, any toxic effects were reversible on stopping veledimex (which thus acts as a control switch for the therapy). Griffin Securities reissued buy rating with price target of US$21 after the data was…

Actionable Ideas in the Biotechnology and Pharmaceutical Sectors (Incl. Insider Buying): November 28

United States

PerkinElmer, Inc. provides technology, services and solutions to the diagnostics, research, environmental, industrial and laboratory services market. The Company's products include equipment used for genetic screening and drug discovery, optoelectronics, analytical instruments, image detection systems, and fluid containment products.

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Perkinelmer Inc (PKI US)

SD Biosensor IPO Preview

SD Biosensor is one of the biggest companies in Korea in the field of in-vitro diagnostic products.At the high end of the IPO price range, the...

Douglas Kim

U.S. Equity Strategy: Retest of October Lows Underway; Upgrading Financials

Our outlook remains cautious as we continue to expect heightened volatility and a potential retest of the February 2018 lows over the next several...

Vermilion Research

S&P 500: Outlook Constructive but Concerns Remain

As the S&P 500 nears the 2,873 January high - a critical hurdle - short-term Sector leadership changes give us reason for pause. While we...

Vermilion Research

Trump Health Effect: What Is Next for the Consumer Health Industry Under Trump's Leadership?

While the US consumer health industry will remain a strong centre for investment, development and technology innovation in 2017 and is expected to...

Euromonitor International Ltd.

Actionable Ideas in the Biotechnology and Pharmaceutical Sectors (Incl. Insider Buying): November 28

Ziopharm Oncology Inc (ZIOP US) announced impressive survival data for its immune-boosting therapy AD-RTS-hIL-12 + veledimex in recurrent pediatric...

Dr. Bhavneesh Sharma, MD, MBA

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