In today’s briefing:
- Acotec (6669 HK): Boston Scientific’s Partial Offer Open For Tendering
- Jinxin Fertility Group Placement – Weak Track Record And Recent Deals Have Performed Poorly
- Zoetis Inc.: Initiation of Coverage – The Jurox Acquisition & Key Drivers
- DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- Zoetis Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
Acotec (6669 HK): Boston Scientific’s Partial Offer Open For Tendering
- On the 12 December, Acotec Scientific (6669 HK) announced a HK$20/share partial Offer from Boston Scientific, a 31.6% premium to last close, but below August 2021’s IPO price of HK$23.80/share.
- Boston Scientific will acquire at least 156.7mn shares (50.01%), up to 203.7mn (65%). Irrevocables total 60.14%, comprising shares held by CA Medtech/CPE Investment, Jing Li (chairman, CEO), and Bliss Way.
- The Composite Doc is now out and the Offer is open for acceptances. This Offer is done. The key question is the final proration.
Jinxin Fertility Group Placement – Weak Track Record And Recent Deals Have Performed Poorly
- Jinxin Fertility Co Ltd (1951 HK) is looking to raise US$122m via a top-up placement.
- Proceeds from the offering will be used to repay its outstanding convertible bond and general corporate purposes.
- In this note, we will run the deal through our ECM framework and talk about the recent updates.
Zoetis Inc.: Initiation of Coverage – The Jurox Acquisition & Key Drivers
- This is our first report on animal health pharma major, Zoetis.
- Despite the world’s volatile external environment and economic unpredictability, Zoetis has performed well from a financial standpoint given to its varied durable portfolio and global reach.
- It delivered a 5% operating revenue increase in Q3, which reflected a decent yet below-par performance across its range of innovation-driven companion animal products, particularly in its overseas markets.
DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on medical device major, DexCom.
- Although DexCom anticipates that these primary care connections will be crucial to its long-term consumer goals, they also enable the company to serve the nation’s extensive insulin users.
- In addition, DexCom carried out its previously disclosed accelerated share repurchase program, buying roughly 550 million outstanding shares.
Zoetis Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Zoetis Inc is a well-known animal health pharma company.
- Besides, their pet care products are increasingly helping to fuel growth in some of their biggest markets, like China and Australia.
- The management also expects a high global demand for novel goods, particularly in companion animal parasiticides, dermatology, vaccines, diagnostics, and monoclonal antibodies for pain.
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