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HJ Science Launches HK$1.11 Billion Hong Kong IPO

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HJ Science (HKG:6132) launched its Hong Kong initial public offering on Friday, seeking to raise HK$1.11 billion.

The Chinese biotechnology company is offering 13.6 million H shares at an indicative price of HK$81.80 per share, according to a Hong Kong bourse filing.

The offering comprises around 1.4 million shares for Hong Kong investors and 12.2 million shares for international investors, subject to reallocation.

The IPO's allocation results are due June 22, ahead of the company's planned trading debut on June 23.

Net proceeds will be used primarily to advance the company's clinical research and development activities.

The company secured six cornerstone investors, including Foresight Fund, that committed to subscribe to $65 million worth of IPO shares.

Citic Securities is the sole coordinator of the IPO.

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