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Alebund Pharmaceuticals Nets HK$1.2 Billion in Hong Kong IPO

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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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