Medtide Inc. (HKG:3880) took in HK$428.8 million in net proceeds from its initial public offering in Hong Kong after pricing the shares at the top end of the indicative price range.

The peptide-focused CRDMO priced the IPO shares at HK$30.60 apiece, the upper limit of the price guidance of as low as HK$28.40, according to a Friday after-market hours filing.

The Hong Kong public offer portion of the deal was 301.15 times subscribed, triggering the reallocation of 6,720,000 shares from the international offering and taking the total number of shares offered under this tranche to 8,400,000 from 1,680,000 initially.

The international offering was 2.43 times subscribed and the company issued 8,400,000 shares, reduced from 15,120,000 shares initially following the reallocation.

Medtide will make its trading debut on the Hong Kong bourse Monday, June 30.