Innogen Pharma Nets HK$635 Million from Hong Kong IPO Ahead of Trading Debut

MT Newswires Live

Aug 15

Guangzhou Innogen Pharmaceutical Group (HKG:2591) raised HK$634.7 million in net proceeds from its initial public offering in Hong Kong, according to a Thursday after-market Hong Kong bourse filing.

The pharmaceutical firm priced its 36,556,400 H-shares at HK$18.68 apiece.

The Hong Kong public offer was 5,341.66 times oversubscribed, with the final allocation of 3,655,800 shares, or about 10% of the total offering, unchanged from the initial allotment.

The international offering was 10.67 times subscribed, with the final number of shares offered remaining at 32,900,600.

Cornerstone investors June Star Global, Ginkgo Capital Global Fund - SPC XtalPi AI Fund SP, Marketingforce Management, Deng Haifeng, and Li Huifeng were allotted a combined 4,201,000 shares, or about 11.49% of the global offering.

Guangzhou Innogen Pharma is set to debut on the Hong Kong bourse on Friday, Aug. 15.

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