BRIEF: Metis TechBio launches $250 million Hong Kong IPO

Nanomaterials analysis company Metis TechBio Co. Ltd. launched its Hong Kong IPO on Tuesday, planning to raise approximately HKD 2 billion (USD 255 million) by selling 201 million shares at HKD 10.50 each. The subscription deadline is May 8, and trading is expected to begin on May 13. Based on the IPO price, the company's market capitalization is approximately HKD 12 billion. Eighteen cornerstone investors, including Blackstone, UBS, Mirae Asset Securities, and Orix Asia, have agreed to purchase 110 million shares, accounting for about 55% of the total shares sold. The company plans to use half of the IPO proceeds for research and development, 20% for ongoing and future clinical trials, and 10% for developing its animal health and longevity business