ECM Weekly (1 Jun 2019) - Hansoh, China East Edu, GSX, CSSC (HK) Shipping, China Tobacco

There were no new IPO filings in Asia but there will still be a handful of listing trickling in as we approach the end of Q2.

Starting in Hong Kong, Hansoh Pharmaceutical (3692 HK), launched its bookbuild on Thursday with a strong line up of cornerstone investors. The company had also announced a positive development just before it launched its IPO. Ke Yan, CFA, FRM discussed the company's valuation and the license-in from Viela Bio in:

• Hansoh Pharma (翰森制药) IPO: Strong Cornerstone Line-Up, Upside at Low End
• Hansoh Pharma (翰森制药) IPO: Inebilizumab License-In from Viela Bio a Symbolic Deal

Other IPOs that have opened their books this week include China East Education (667 HK), Tai Hing (1719303D HK), China Tobacco International (HK) (6055 HK), and CSSC (Hong Kong) Shipping Co Ltd (3877 HK).

Beyond that, ESR Cayman (ESR HK) will be opening its book next week. For early thoughts on valuation, Sumeet Singh has covered the company extensively in:

• ESR Cayman Pre-IPO - Updates from PHIP - Growth Remains on Track
• ESR Cayman Pre-IPO - Updated Valuation and Key Risks

In the U.S, GSX Techedu (GSX US) will debut next week and we have covered the IPO in:

• GSX Techedu (跟谁学) IPO Review - Profitable Online Education Company

Other markets have been fairly quiet. In Australia, there are news on Home Consortium and Education Center of Australia planning for their IPO while India will likely see more activity after elections being out of the way.