Core Viewpoint - Paig BioPharma (Hangzhou) Co., Ltd. has listed on the Hong Kong Stock Exchange, opening below its issue price and closing with a significant decline in share price [1][5]. Group 1: Listing and Share Performance - Paig BioPharma's shares opened at 13 HKD, below the final issue price of 15.60 HKD, and closed at 11.56 HKD, reflecting a drop of 25.90% [1][5]. - The total number of shares offered was 19,283,500, with 9,642,000 shares allocated for public offering in Hong Kong and 9,641,500 shares for international offering [2]. Group 2: Financial Details - The total proceeds from the offering amounted to 300.8 million HKD, with estimated listing expenses of 69.1 million HKD, resulting in net proceeds of 231.8 million HKD [5][7]. - The company has not yet received approval for any products for commercial sale and has not generated any revenue from product sales [7]. Group 3: Financial Performance and Projections - Paig BioPharma reported significant net losses since its establishment, with projected losses of 279.2 million RMB and 283.4 million RMB for the years 2023 and 2024, respectively [7][9]. - The company anticipates continued net losses due to expected high sales, marketing, and research and development expenses [9]. - Cash used in operating activities was 233.3 million RMB in 2023 and is projected to be 183.4 million RMB in 2024 [10].
派格生物医药港股首日破发跌26% 无收入募3亿港元