The entry fee for the IPO of HANXBIO-B is HKD 3,232.27, attracting 7 cornerstone investors

Biotechnology company HANXBIO-B (03378.HK), which possesses independent professional technology and experience in structural biology, translational medicine, and clinical development, will begin its public offering today (15th), offering a total of 18.321 million shares, of which 1.8321 million shares are for public sale in Hong Kong. The offer price per share is between HKD 28 and HKD 32, with a minimum investment of 100 shares, resulting in an entry fee of HKD 3,232.27. The company aims to raise up to approximately HKD 590 million, with the offering period ending on December 18th and expected listing on December 23rd. The exclusive sponsor is ICBC International Finance.

The company has introduced 7 cornerstone investors, including Fude Resources, Sage Partners Master Fund, Guotai Junan Securities Investment (Hong Kong) Limited, TFI Investment Fund SPC (acting for and on behalf of its independent investment portfolio TFI Lakeside SP), Main Source Capital Limited, YStem Capital, and Chunlei Capital, with a total investment amount of HKD 93.37 million.

Based on a median offer price of HKD 30, the net proceeds are expected to be approximately HKD 496 million. The company plans to allocate about 35% of the net proceeds for the research and development of its core product HX009, about 33% for the research and development of its main products HX301 and HX044, about 17% for the research and development of other important products, about 5% for funding commercialization and business development activities, and about 10% for working capital and other general corporate purposes