Stock Track | 3SBIO Plummets 5.56% Intraday as Subsidiary Mandi International's IPO Application Expires

Stock Track05-26

3SBIO's stock price plummeted 5.56% during intraday trading on Tuesday, reflecting significant investor disappointment following news about its subsidiary's failed IPO attempt.

The sharp decline comes after the Hong Kong Stock Exchange disclosed that Mandi International's IPO prospectus has automatically lapsed. Mandi International, 3SBio's hair health subsidiary which commands approximately 57% of China's hair loss drug market with its flagship minoxidil products, failed to complete its listing hearing within the required six-month window after filing its application in November 2025.

This development dims near-term prospects for value realization through the planned spin-off, as the company had been positioning Mandi International as the anti-hair loss first stock in the Hong Kong market. The broader Biotechnology sector also traded lower, though 3SBio's decline significantly outpaced its peers.

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