Daily Brief ECM: Amvis Holdings Placement - Has Done Exceptionally Well and more

In today’s briefing:

Amvis Holdings Placement – Has Done Exceptionally Well, Now It’s Prime Time

Amvis Holdings Inc (7071 JP) (AH)’s founder aims to raise around US$250m via a secondary follow-on offering.
The deal will increase the free-float of the stock and will lead to the stock being transferred to the Prime segment.
In this note, we will talk about the placement and run the deal through our ECM framework.

TVS Supply Chain Solutions (1915741D IN) is looking to raise about US$500m in its upcoming India IPO.
TVS SCS is an Indian supply chain logistics solution provider which also has global capabilities and network across the value chain with cross deployment abilities, according to RedSeer.
TVS SCS has seen its revenue grow as both its operating segments registered decent growth during the track record period. However, its profitability might have been a result of COVID-19.

The decline in revenue from multiple categories of drugs due to VBP indicates that Luye Pharma (2186 HK) urgently needs a group of new products to reverse the overall weak performance.
Without the advantages in R&D efficacy and product competitiveness, the current pipeline would generate little value. It’s hard to convince people that the fundamentals of Luye have truly changed.
We are not optimistic about Luye’s outlook, which lacks long investment logic. Meanwhile, we think that this Placement is not cost-effective due to more potential downside to valuation.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network