Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

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Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Shanghai HeartCare Medical Technology / Equity Capital Markets

Shanghai HeartCare Medical Technology (6609 HK)

The neuro-interventional medical device company, <a href="https://www.smartkarma.com/entities/shanghai-heartcare-medical-technology-corporation-limited" target="_blank" data-smartkarma-citation="entities:32192:1" rel="noopener">Shanghai HeartCare Medical Technology (6609 HK)</a>  has announced the terms for its upcoming Hong Kong IPO. The company plans to issue 6.6m shares (20.9% of the total outstanding shares post-IPO) at an indicative IPO price range of HK$160-171 per share and will raise net proceeds of HK$980.6m (US$125.9m) at the midpoint of the IPO price range of HK$165.5 per share at a market capitalisation of HK$5.2bn and a post-money EV of HK$3.8bn.Shanghai Heartcare plans to use approx. 45.3% of the net IPO proceeds on funding the ongoing R&amp;D, manufacturing and marketing of its core products Captor and LAA Occluder in China. The company also plans to spend about 40% of the net IPO proceeds on developing its other product candidates in the pipeline and another 4.8% of the net proceeds on continued expansion of the company’s product portfolio.The company has entered into cornerstone investment agreements (with 10 investors) for an aggregate amount of HK$513.15m (US$66m) that represents 46.96% of the offer shares (at the midpoint) with lake Bleu Prime Healthcare Master Fund Limited (US$10m), Boyu Capital Opportunities Fund (US$10m), Octagon Investments Master Fund (US$10m), Aspex Master Fund (US$10m) and several other investors.

The neuro-interventional medical device company, Shanghai HeartCare Medical Technology (6609 HK)  has announced the terms for its upcoming Hong Kong IPO. The company plans to issue 6.6m shares (20.9% of the total outstanding shares post-IPO) at an indicative IPO price range of HK$160-171 per share and will raise net proceeds of HK$980.6m (US$125.9m) at the midpoint of the IPO price range of HK$165.5 per share at a market capitalisation of HK$5.2bn and a post-money EV of HK$3.8bn.Shanghai Heartcare plans to use approx. 45.3% of the net IPO proceeds on funding the ongoing R&amp;D, manufacturing and marketing of its core products Captor and LAA Occluder in China. The company also plans to spend about 40% of the net IPO proceeds on developing its other product candidates in the pipeline and another 4.8% of the net proceeds on continued expansion of the company’s product portfolio.The company has entered into cornerstone investment agreements (with 10 investors) for an aggregate amount of HK$513.15m (US$66m) that represents 46.96% of the offer shares (at the midpoint) with lake Bleu Prime Healthcare Master Fund Limited (US$10m), Boyu Capital Opportunities Fund (US$10m), Octagon Investments Master Fund (US$10m), Aspex Master Fund (US$10m) and several other investors.  

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