TenNor Therapeutics (HKG:6872) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$626.8 million from the deal.
The China-based near-commercial stage biotechnology company is offering 8.3 million shares at HK$75.70 each, according to a Hong Kong bourse filing.
The offering comprises 828,100 shares for Hong Kong investors and 7.5 million shares for international investors, subject to reallocation, the offer size adjustment option, and the overallotment option.
Allocation results are due by May 21, ahead of the company's planned trading debut on May 22.
Net proceeds will be used mainly to fund the research, development, regulatory filings, and commercialization of core products rifasutenizol and rifaquizinone injection.
The funds will also be used to support clinical development of TNP-2092, advance other pipeline candidates, construct an in-house manufacturing facility in Guangdong, and for working capital and general corporate purposes.
CITIC Securities (Hong Kong) and ABCI Capital are acting as joint sponsors.
CLSA and ABCI Capital are serving as sponsor-overall coordinators, overall coordinators, and joint global coordinators, while also acting as joint bookrunners alongside China Renaissance Securities (Hong Kong).
CLSA, ABCI Securities Company, China Renaissance Securities (Hong Kong), Futu Securities International (Hong Kong), and Tiger Brokers (HK) Global are acting as joint lead managers.