Daily Brief ECM: Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction and more

In today’s briefing:

Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction
ECM Weekly (18th Sep 2022) – CALB, Onewo, Leapmotor, WCP, Biogene, Socionext, Prop Guru, PayMate
Weekly Deals Digest (18 Sep) – Leapmotor, Onewo, WCP, Link, Ramsay, Giordano, VNET, FHT, Moya

Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

Genuine Biotech (GBL HK) has filed for HK listing. Its Azvudine received NMPA approval for the treatment of COVID-19 in July 2022 to become the first China-made oral COVID-19 drug.
Azvudine was conditionally approved by the NMPA for the treatment of HIV infection in July 2021. However, the drug is yet to be commercialized.
Genuine Biotech plans to use the IPO proceeds for the commercialization of Azvudine. The company’s current cash balance can maintain its financial viability for approximately 20 months.

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, a few large Hong Kong IPOs are rumoured to be aiming to launch their bookbuild next week.
There was only the Atlas Arteria (ALX AU) mega entitlement offer this week, on the placements front.

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments – Leapmotor (2007699D HK) and Onewo Space-Tech (ONEWO HK) will launch US$1.0bn and US$0.8bn HKEx IPOs this week, respectively. WCP (WCP KS) is bookbuilding a US$692m KRX IPO
Event-Driven developments –Link Administration (LNK AU), Ramsay Health Care (RHC AU), Giordano International (709 HK), Xiamen International Port H (3378 HK), Frasers Hospitality Trust (FHT SP), 21Vianet Group (VNET US)

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

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