Stock Track | LONGBIO-B Soars 54.80% Intraday on Blockbuster IPO Debut with Massive Oversubscription

Stock Track09:35

LONGBIO-B's stock soared 54.80% during intraday trading on Friday, marking a dramatic debut on the Hong Kong Stock Exchange.

The surge was driven by the company's highly anticipated initial public offering, which saw overwhelming investor demand. The Hong Kong public offering portion was oversubscribed by approximately 4,762.58 times, with about 266,400 valid applications resulting in a one-lot winning rate of only about 2%. The IPO raised net proceeds of approximately HK$1.255 billion.

LONGBIO-B is a clinical-stage biopharmaceutical company focusing on developing biologic drugs for allergic and autoimmune diseases. Its core product, LP-003, has entered eight clinical trials in China, with a Phase III trial for seasonal allergic rhinitis expected to file for market approval soon. Another key pipeline candidate, LP-005, targets complement-mediated diseases.

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