The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
Asiamoney

Coronavirus: IPOs lose the human touch

Asia’s first virtual roadshows have paved the way for a new digital approach to IPO executions; they are a necessity at the moment, but they could become the new normal.



By Jonathan Breen

While the coronavirus pandemic has hurt equity markets, it has also sparked innovation among dealmakers. Restricted travel and forced quarantines have encouraged bankers to experiment with entirely virtual roadshows.

Chinese biotechnology company InnoCare Pharma was the first to bring international attention to the virtual roadshow in March.

The firm floated for HK$2.24 billion ($289 million) after conducting its deal roadshow – when the order-book is built and final pricing determined – without a single face-to-face meeting.

Bankers who were not involved in the transaction were quick to point out that InnoCare had spent months beforehand nurturing relationships with some investors, which had included physical meetings.



Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree