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

Zylox-Tonbridge (归创通桥) IPO: Clear Upside Thanks to Comprehensive Coverage

Zylox-Tonbridge (归创通桥) IPO Trading: Expect Strong Debut

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

Zylox-Tonbridge Medical Technology / Equity Capital Markets

Zylox-Tonbridge Medical Technology (2190 HK)

Zylox-Tonbridge, a leading China-based neuro- and peripheral interventional device company, is looking to raise up to USD 400m via a Hong Kong listing.  In this note, we look at two key products of the company, namely the Thrombite clot retriever for acute ischemic stroke treatment, and Ultrafree Drug Coated PTA Balloon Catheter for the arterial stenosis or occlusion. The Thrombite clot retriever demonstrated efficacy and safety that is in-line with the benchmark product developed by international device player, while the reading from head-to-head clinical research of Ultrafree Drug Coated PTA Ballon Catether appears to be better than its competitor product. The key challenge for the company is the competition in each of its product lines as the company does not have much early bird advantage in the field. Both the management team and pre-IPO investors are OK but not the best you can expect in a hot medical device listing.

Zylox-Tonbridge, a leading China-based neuro- and peripheral interventional device company, is looking to raise up to USD 400m via a Hong Kong listing.  In this note, we look at two key products of the company, namely the Thrombite clot retriever for acute ischemic stroke treatment, and Ultrafree Drug Coated PTA Balloon Catheter for the arterial stenosis or occlusion. The Thrombite clot retriever demonstrated efficacy and safety that is in-line with the benchmark product developed by international device player, while the reading from head-to-head clinical research of Ultrafree Drug Coated PTA Ballon Catether appears to be better than its competitor product. The key challenge for the company is the competition in each of its product lines as the company does not have much early bird advantage in the field. Both the management team and pre-IPO investors are OK but not the best you can expect in a hot medical device listing.

Shanghai HeartCare Medical Technology (6609 HK)

Zylox-Tonbridge (归创通桥) Pre-IPO: Competition Is the Key Concern