The biotech stock BAO PHARMA-B starts its subscription today, with an entry fee of HKD 2,664.6

BAO PHARMA (02659.HK) announced its IPO details in Hong Kong, planning to globally offer 37.9117 million H shares, with 10% (approximately 3.7912 million shares) allocated for public offering in Hong Kong and 90% (approximately 34.1205 million shares) for international placement, at an offer price of HKD 26.38 per share. The minimum trading unit is 100 shares, with an entry fee of approximately HKD 2,664.6. The subscription period runs from today (2nd) until noon this Friday (5th), with listing expected next Wednesday (10th), co-sponsored by CITIC Securities and Guotai Junan Securities.

Based on the offer price of HKD 26.38, the net proceeds are expected to be approximately HKD 922 million, of which about 53.5% will be used for the R&D and commercialization of core products, approximately 17.7% will be invested in other existing pipeline products, about 8.4% will be used to optimize proprietary technology platforms and develop new candidate drugs, approximately 10.4% will be used to enhance and expand production capacity, and the remaining 10% will be for working capital and general corporate purposes.

This IPO has attracted three cornerstone investors, including Anke Biotechnology Hong Kong, DC Alpha SPC, and Guotai Junan Securities Investment (related to the neutral OTC swap), collectively subscribing for approximately HKD 201 million worth of shares, which translates to about 7.6041 million shares, accounting for approximately 20.06% of the shares offered.

BAO PHARMA is a biotechnology company focused on high-volume subcutaneous delivery, antibody-mediated autoimmune diseases, assisted reproduction, and recombinant biopharmaceuticals, with 12 self-developed products under research, including three core products: KJ017, KJ103, and SJ02