Hanx Biopharmaceuticals Nets HK$531 Million from Hong Kong IPO Ahead of Debut

MT Newswires Live12-23 06:48

Hanx Biopharmaceuticals (HKG:3378) raised HK$531.3 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$32.00 per share, according to a Monday after-market filing with the Hong Kong Stock Exchange.

The biopharmaceutical company offered 18.3 million H-shares in the global offering.

The Hong Kong public offer was 3,074.09 times oversubscribed, with a final allocation of 1.8 million shares, or 10% of the total offering.

The international offering was 5.78 times subscribed, with a final allocation of 16.5 million shares, or 90% of the total.

Cornerstone investors, including Fund Resources Investment Holding Group, Sage Partners Master Fund, Guotai Junan Investments (Hong Kong), TFI Investment Fund SPC (Lakeside SP), Main Source Capital, YStem Holding, and Awaken Thunder Capital, were allotted a combined 2.9 million shares, representing 15.93% of the global offering, according to the filing.

Hanx Biopharmaceuticals is scheduled to debut on the Hong Kong bourse on Tuesday, Dec. 23.

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