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

RecBio (江苏瑞科) Pre-IPO:  Thoughts on Valuation

RecBio (江苏瑞科) IPO: Fairly Valued on Optimistic Industry Forecast

RecBio (江苏瑞科) IPO Trading: Fairly Valued for Vaccine Hype

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

Jiangsu Recbio Technology / Equity Capital Markets

<ul>
<li>RecBio is an innovative vaccine company with a focus on HPV vaccines. The company is looking to raise up to USD 300 million via a Hong Kong listing.</li>
<li>We look at the company's core products, HPV portfolio and the COVID-19 vaccine. We are not impressed by the HPV product but it does provide exposure to China HPV market.</li>
<li>With limited disclosure, we think the company has not demonstrated its R&amp;D capability. Neither is its management team impressive.</li>
</ul>


RecBio is an innovative vaccine company with a focus on HPV vaccines. The company is looking to raise up to USD 300 million via a Hong Kong listing.
We look at the company's core products, HPV portfolio and the COVID-19 vaccine. We are not impressed by the HPV product but it does provide exposure to China HPV market.
With limited disclosure, we think the company has not demonstrated its R&amp;D capability. Neither is its management team impressive.


RecBio (江苏瑞科) Pre-IPO: A Pure Proxy to HPV Vaccine Market