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Jiangxi Bio Prices Hong Kong IPO at Midpoint, Raises HK$339 Million

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Jiangxi Institute of Biological Products (HKG:6915) will receive HK$338.8 million in net proceeds from its initial public offering in Hong Kong after pricing the shares at the midpoint of the indicative range, according to a Monday after-market disclosure.

The human tetanus antitoxin provider issued 36.2 million shares at HK$11.20 each, the midpoint of the HK$9.33 to HK$13.06 price range.

The Hong Kong public offering portion of the deal was 476.56 times subscribed, with 3.62 million shares allocated, while the international offering was 4.25 times subscribed, with roughly 32.6 million shares allocated.

A cornerstone investor was allotted 4.46 million shares, representing 12.3% of the IPO shares.

Jiangxi Bio is set to debut on the Hong Kong bourse today, June 30.

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