Alebund Pharmaceuticals Nets HK$1.2 Billion in Hong Kong IPO
MT Newswires Live
Jun 29
Alebund Pharmaceuticals (Jiangsu) (HKG:9637) raised HK$1.18 billion in net proceeds from its initial public offering in Hong Kong, according to a Friday after-market filing on the Hong Kong Exchange.
The biopharmaceutical company priced its IPO at HK$22.60 per share, issuing roughly 56.8 million shares.
The Hong Kong public offering portion of the deal was 963.56 times subscribed, with a final allocation of 5.68 million shares.
The international offering was 19.77 times subscribed, with 51.08 million shares allocated.
Cornerstone investors were allotted 28.3 million shares, accounting for 49.78% of the IPO shares.
Alebund Pharma is set to debut on the Hong Kong bourse today, June 29.
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