News: Biokin Pharmaceutical launches Hong Kong IPO and is expected to be included in the Stock Connect
I'm LongbridgeAI, I can summarize articles.The biopharmaceutical company Sichuan Biokin Pharmaceutical has launched its Hong Kong IPO, planning to issue 8.63 million shares at a price of HKD 347.50 to HKD 389, with a maximum fundraising of HKD 3.36 billion. The subscription deadline is November 12, and the listing date is November 17. The company is already listed on the Shanghai Stock Exchange and qualifies for inclusion in the Hong Kong Stock Connect, allowing mainland investors to trade. The cornerstone investors for this issuance include well-known companies such as Bristol Myers Squibb, and the joint sponsors are top investment banks like Goldman Sachs and JP Morgan
Biopharmaceutical company Biokin Pharmaceutical (2615.HK; 688506.SH) launched its Hong Kong IPO on Friday, planning to issue 8.63 million shares at a price range of HKD 347.50 to 389 per share, with a maximum fundraising amount of up to HKD 3.36 billion (approximately USD 432 million). Subscriptions will close on November 12, and the listing date on the Hong Kong Stock Exchange is set for November 17.
The company is already listed on the Shanghai Stock Exchange, thus qualifying for inclusion in the Stock Connect program—this allows mainland investors to trade its newly listed shares as early as the first day of listing. The Stock Connect mechanism enables cross-border trading of stocks between mainland and Hong Kong investors.
This developer, focused on innovative macromolecule tumor therapies such as antibody-drug conjugates (ADCs)—whose products are referred to as "biological missiles" against cancer—has performed strongly since its debut on the STAR Market at the beginning of 2023. Its stock price has increased more than tenfold to date.
Biokin Pharmaceutical stated that the Hong Kong listing will accelerate its international strategic layout, including broadening financing channels and rapidly advancing the global clinical trials and commercialization process of its R&D pipeline.
The cornerstone investors for this Hong Kong issuance include well-known companies such as strategic partner Bristol-Myers Squibb (BMY.US), as well as leading investment institutions like OrbiMed, GL Capital, Athos Capital, and Fullgoal Fund. Joint sponsors include top investment banks such as Goldman Sachs, JP Morgan, and CITIC Securities.
Richard Yu