Core Viewpoint - The recent IPO of Valiant Biotech-B (维立志博) on the Hong Kong Stock Exchange has generated significant investor interest, reflected in its stock price surge on the first trading day, indicating a strong demand for biotech stocks in the Hong Kong market [1][6]. Company Overview - Valiant Biotech is a clinical-stage biotechnology company focused on discovering, developing, and commercializing new therapies for cancer, autoimmune diseases, and other serious conditions [6][8]. - The company has one core product, LBL-024, which is in clinical trials for various types of cancer, and 13 other drug candidates, including 5 in clinical stages and 8 in preclinical stages [4][5]. IPO Details - The IPO was priced at HKD 35 per share, with a total issuance of 36.86 million shares, raising approximately HKD 1.18 billion [1][8]. - The public offering attracted 323,706 applications, with a subscription rate of 3,494.78 times, leading to a final allocation of 16.03 million shares, which is about 43.48% of the total offering [6][7]. - The international offering received a subscription rate of 40.78 times, resulting in the allocation of 20.84 million shares, or 56.52% of the total offering [6][7]. Investor Interest - The IPO attracted 32,300 investors, with approximately 73,406 successful applications, indicating strong market interest [6][7]. - Nine cornerstone investors participated in the IPO, including notable firms such as Tencent's Huang River Investment Limited and other prominent investment institutions, collectively subscribing to approximately HKD 540 million worth of shares [8]. Fund Utilization - The net proceeds from the IPO will be allocated as follows: approximately 65% for clinical development and regulatory affairs of candidates in clinical stages, 15% for enhancing preclinical assets and expanding the pipeline, 10% for capacity enhancement and commercialization post-approval, and 10% for working capital and general corporate purposes [8].
超32万人申请认购！维立志博-B上市首日涨近92% 董事长康小强：不看资产多少，更关注研发与资金用途