In today’s briefing:
- Sihuan Pharma (460 HK) Denies China Resources Approach
- Voronoi: Reduces IPO Price Range by 25%
- Polen Global SMID Company Growth Q1 2022 Portfolio Manager Commentary
- Polen International Small Company Growth Q1 2022 Portfolio Manager Commentary
Sihuan Pharma (460 HK) Denies China Resources Approach
- Sihuan Pharmaceutical (460 HK) has shot down rumours that it is under negotiation with potential investors in respect of privatisation.
- Reportedly SOE China Resources is in talks with Sihuan Pharma’s chairman in a deal valuing the company at US$3bn or a 114% premium to the current price.
- The logic of a privatisation makes sense. I would not be so quick to dismiss the denial. Plus Sihuan Pharma is very cash-rich.
Voronoi: Reduces IPO Price Range by 25%
- Voronoi is trying again to complete its IPO in Korea after lowering its IPO price range by 25% to 40,000 won to 46,000 won.
- The IPO base deal size is from $41 million to $47 million. Expected market cap is from 536 billion won to 616 billion won.
- Voronoi is developing treatments for tumors, degenerative brain diseases, and autoimmune diseases. The total amount of accumulated milestones for three global technology exports is $1.79 billion.
Polen Global SMID Company Growth Q1 2022 Portfolio Manager Commentary
- Polen Capital is a high-conviction growth investment manager.
- Over the first quarter of 2022, Polen Global SMID Company Growth Composite Portfolio returned -22.37% gross and – 22.48% net of fees, respectively, versus the -6.41% return of the MSCI ACWI SMID Capitalization Index.
Polen International Small Company Growth Q1 2022 Portfolio Manager Commentary
- Polen Capital is a high-conviction growth investment manager.
- Over the first quarter of 2022, Polen International Small Company Growth Composite Portfolio returned -22.48% gross and – 22.73% net of fees, respectively, versus the -6.
Before it’s here, it’s on Smartkarma
