Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

Acotec (先瑞达) IPO: Risk-Reward Does Not Warrant Participation

Acotec (先瑞达) IPO Trading: Expect Poor Debut Performance

Acotec Scientific Holdings: Boston Scientific's Partial Offer

Acotec (先瑞达) Pre-IPO: Early Mover Advantage in Peripheral DCB

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Acotec Scientific Holdings / Equity Capital Markets

Acotec, a leading China-based peripheral-vascular interventional device company, is looking to raise up to USD 300m via a Hong Kong listing.  In our previous note, we looked at two core drug coated balloon products of the company, namely the AcoArt Orchid &amp; Dhalia for the above the knee artery stenosis and AcoArt Tulip &amp; Litos for the below the knee stenosis. Both AcoArt Orchid &amp; Dhalia, and AcoArt Tulip &amp; Litos reported efficacy that could be potentially better than its benchmark product. Thanks to its early mover advantage, the AcoArt Orchid &amp; Dhalia had a dominant market share. The main growth driver of the company's core product will be increasing penetration rate and indication expansion. Besides the DCB products, we think the company's product pipeline is not exciting. The company has a good management team but the pre-IPO investors are overall mediocre.In this note, we will provide our thoughts on the company's valuation.

Acotec, a leading China-based peripheral-vascular interventional device company, is looking to raise up to USD 300m via a Hong Kong listing.  In our previous note, we looked at two core drug coated balloon products of the company, namely the AcoArt Orchid &amp; Dhalia for the above the knee artery stenosis and AcoArt Tulip &amp; Litos for the below the knee stenosis. Both AcoArt Orchid &amp; Dhalia, and AcoArt Tulip &amp; Litos reported efficacy that could be potentially better than its benchmark product. Thanks to its early mover advantage, the AcoArt Orchid &amp; Dhalia had a dominant market share. The main growth driver of the company's core product will be increasing penetration rate and indication expansion. Besides the DCB products, we think the company's product pipeline is not exciting. The company has a good management team but the pre-IPO investors are overall mediocre.In this note, we will provide our thoughts on the company's valuation.

Zylox-Tonbridge Medical Technology (2190 HK)

Acotec (先瑞达) Pre-IPO: Thoughts on Valuation