IPO Update | BAO PHARMA-B (02659) Closes Subscription with HK$269.21B Margin Financing, Oversubscribed 2,690.8 Times

Stock News12-08

Biotech firm BAO PHARMA-B (02659) concluded its IPO subscription period from December 2 to 5 and is expected to list on December 10. Market data shows that as of last Friday (December 5), the company recorded HK$269.21 billion in margin financing from brokers against a public offering size of HK$100 million, reflecting an oversubscription rate of 2,690.8 times.

Under the issuance plan, BAO PHARMA-B will offer 37.912 million H shares, with 10% allocated to Hong Kong’s public offering. The issue price is set at HK$26.38 per share, raising HK$1 billion. Each board lot consists of 100 shares, with an entry cost of HK$2,664.6 per lot. CITIC Securities and Haitong International serve as joint sponsors.

The company has secured cornerstone investments worth HK$200 million from Anke Biotechnology (Hong Kong), DC Alpha SPC, and Guotai Junan Securities Investment (related to hedging and OTC swaps).

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