LongBio Pharma Raises HK$1.3 Billion in Hong Kong IPO Ahead of Debut

MT Newswires Live06:01

LongBio Pharma (HKG:1779) raised HK$1.25 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$96.06 per H-share, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The Chinese biopharmaceutical company offered 14.2 million H-shares in the global offering.

The Hong Kong public offer was 4,762.58 times subscribed, with a final allocation of 1.4 million shares, representing 10% of the total offering.

The international offering was 10.94 times subscribed, with a final allocation of 12.8 million shares, or 90% of the total offering.

An over-allocation of 2.1 million shares was made under the global offering.

Cornerstone investors, including OrbiMed Genesis, The Biotech Growth Trust, TruMed Innovation Fund, TruMed Master Fund, Shanghai Gaoyi, Wisdomshire Asset Management, Vision Fund 1, and GSC Fund 1, were allotted a combined 7.1 million shares, representing 49.96% of the global offering, according to the filing.

LongBio Pharma is set to debut on the Hong Kong bourse on Friday, June 5.

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