In today’s briefing:
- ASICS Placement Updates – Share Pop Done, Now Needs to Correct
- ECM Weekly (22nd July 2024) – Kokusai, Honda, ASICS, ZIP, Invincible, Hyundai, Premier, Timee, Sanil
- Pre-IPO Elpiscience Biopharmaceuticals – Will Investors Still Buy in These Stories?
ASICS Placement Updates – Share Pop Done, Now Needs to Correct
- A group of shareholders aims to raise around US$1.3bn via selling around 11% of ASICS Corp (7936 JP).
- In our earlier note, we talked about the placement and ran the deal through our ECM framework.
- In this note, we talk about the updates and share price performance since then.
ECM Weekly (22nd July 2024) – Kokusai, Honda, ASICS, ZIP, Invincible, Hyundai, Premier, Timee, Sanil
- Aequitas Research’s weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
- On the IPO front, the coming week to see two more listing, with both likely to do well.
- On the placement front, Japan continued to dominate the ECM flows, with India, Taiwan and Australia joining in.
Pre-IPO Elpiscience Biopharmaceuticals – Will Investors Still Buy in These Stories?
- Elpiscience is incubated by LAV from the very beginning.The Company has strong capital operation capabilities, but the story of “founding team’s decent background + star cornerstone investors” doesn’t work anymore.
- Elpiscience’s pipelines are still in early stage. However, investors are rational. They will no longer believe in those “good stories”, but focus more on cash flow and drug sales revenue.
- Elpiscience’s business model has raised concerns about its future product sales scale and profits.The market may not recognize the post-investment valuation of US$599 million if check the valuation of peers.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
