--- title: "[IPO Tracking] On the first day of listing, ALEBUND-B soared over 92%, attracting capital interest" type: "News" locale: "en" url: "https://longbridge.com/en/news/291084170.md" description: "ALEBUND-B was listed on the Hong Kong Stock Exchange on June 29, with its stock price soaring over 92% on the first day, closing at HKD 43.52. The company received 963 times oversubscription in the Hong Kong public offering, and the international placement was also nearly 20 times subscribed. As an innovative pharmaceutical company focused on kidney disease, its commercialized product Meixinluo has been included in the medical insurance, but the company is still in a loss-making state, mainly due to ongoing increases in R&D investment" datetime: "2026-06-29T02:48:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291084170.md) - [en](https://longbridge.com/en/news/291084170.md) - [zh-HK](https://longbridge.com/zh-HK/news/291084170.md) --- # [IPO Tracking] On the first day of listing, ALEBUND-B soared over 92%, attracting capital interest On June 29, the leading domestic innovative drug company for kidney diseases, ALEBUND-B (09637.HK), officially landed on the Hong Kong Stock Exchange. The market response on the first day of listing was enthusiastic, with impressive stock price performance. As of the time of writing, the company's stock price was HKD 43.52 per share, an increase of 92.57%, with a single-day trading volume of HKD 341 million, highlighting the profit-making effect of the new shares. Based on an issue price of HKD 22.6 and 100 shares per lot, excluding transaction fees, investors who received allocations could earn approximately HKD 2,092 per lot, indicating substantial returns from the new shares. During the IPO phase, ALEBUND-B received enthusiastic support from market funds. In the Hong Kong public offering, the company was oversubscribed by 963.56 times, receiving approximately 145,700 valid applications, and ultimately allocated 5.6756 million H shares, accounting for 10% of the global offering. In addition, on the international placement side, ALEBUND-B was oversubscribed by 19.77 times, with the final number of international offering shares being 51.0798 million, equivalent to 90% of the total offering shares. As a representative biotechnology company deeply engaged in the field of kidney diseases in China, ALEBUND-B was founded in 2018 and focuses on unmet clinical needs such as hyperphosphatemia, renal anemia, and progression of renal function. Its clinical and preclinical pipeline consists of one core product (AP301) and six other candidate products, including one late-stage clinical candidate (AP306), one preclinical candidate drug (AP303), and four preclinical candidate drugs (AP308, AP304, AP305, and AP307). In addition to its research products, ALEBUND-B has a commercialized product, Mircera®. This product was included in the national medical insurance catalog in 2023 and is currently covered by over 300 hospitals. From a financial perspective, ALEBUND-B exhibits typical characteristics of an 18A biotechnology company. From 2024 to 2025, the company's operating revenue is expected to increase from RMB 6.525 million to RMB 30.556 million, with the revenue surge primarily driven by a significant increase in Mircera sales. However, in 2024 and 2025, ALEBUND-B is projected to incur losses of RMB 335 million and RMB 752 million, respectively, with adjusted net losses of RMB 286 million and RMB 381 million. The widening losses are mainly due to continued increases in R&D investment, with R&D expenses reaching RMB 373 million in 2025, a year-on-year increase of 58.29%. As an innovative drug company in the critical stage of R&D, ALEBUND-B plans to use the funds raised from its listing in Hong Kong to advance clinical trials for its core products, expand early pipeline R&D, commercialize products, and supplement working capital. After entering the Hong Kong capital market, ALEBUND-B will gain ample financial resources to accelerate its R&D and commercialization processes, with the potential to quickly grow into a core player in the domestic kidney disease innovative drug field, sharing in the long-term growth dividends of the kidney disease medication sector ### Related Stocks - [09637.HK](https://longbridge.com/en/quote/09637.HK.md) ## Related News & Research - [Biotech Firms Push Weight-Loss and AI Pipelines Amid Buyback Wave](https://longbridge.com/en/news/291029476.md) - [Beijing Biostar Wins Shareholder Backing for Capital Mandates and Governance Changes at AGM](https://longbridge.com/en/news/290979536.md) - [Beijing Biostar Pharmaceuticals files directors list with Hong Kong exchange](https://longbridge.com/en/news/290974298.md) - [China Resources Pharmaceutical Raises RMB2 Billion in Third Tranche of 2026 PRC Bonds](https://longbridge.com/en/news/290965367.md) - [HJ Science stumbles in Hong Kong debut after gray market surge](https://longbridge.com/en/news/290804812.md)