LongBio Pharma (HKG:1779) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$1.36 billion from the deal.
The China-based clinical-stage biopharmaceutical company is offering 14.2 million shares at HK$96.06 per share, according to a Hong Kong bourse filing.
The offering comprises 1.4 million shares for Hong Kong investors and 12.8 million shares for international investors, subject to reallocation and the overallotment option.
The offer price is expected to be determined by June 2, with allocation results due by June 4, ahead of the company's planned trading debut on June 5.
Net proceeds will primarily fund the development and commercialization of the core product, LP-003, and the key product, LP-005, including clinical trials across allergy, autoimmune, and complement-related indications.
The funds will also support the development of other pipeline products and R&D platforms, with the remaining earmarked for working capital and general corporate purposes.
Sinolink Securities (Hong Kong) is acting as the sole sponsor and the sole sponsor-overall coordinator.
Sinolink Securities (Hong Kong), GF Securities (Hong Kong), ABCI Capital, CCB International Capital, Shanxi Securities International, and TradeGo Markets are serving as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.
ABCI Securities Company is acting as a joint lead manager.