Core Viewpoint - The Hong Kong IPO market has seen a surge in activity since December, with 21 companies initiating listings or entering the offering stage, indicating a potential recovery in market sentiment [2]. Group 1: IPO Activity - As of the report, 9 out of 21 companies have completed their listings, 2 have completed their offerings and are awaiting listing, while 9 are in the offering stage [2]. - Notably, in the last two trading days, 6 companies have launched their offerings, showcasing a concentrated effort in the market [2]. Group 2: Han's Biopharma IPO Details - Han's Biopharma-B (03378.HK) has launched its offering from December 15 to 18, with an expected listing date of December 23 [2]. - The company plans to issue approximately 18.32 million H-shares, with 10% allocated for public offering in Hong Kong and 90% for international offering, along with nearly 15% for over-allotment [2]. Group 3: Pricing and Fundraising - The expected price range for Han's Biopharma shares is between 28 to 32 HKD, with a median price of 30 HKD, projecting a net fundraising amount of approximately 496 million HKD if the over-allotment option is not exercised [3]. - The entry fee for investors is set at 3,232.27 HKD for a minimum lot of 100 shares, with a potentially higher chance of winning shares due to the number of applications [3]. Group 4: Use of Proceeds - Han's Biopharma intends to allocate approximately 35% of the net proceeds for the development of its core product (HX009), 33% for its main products (HX301 and HX044), 17% for other important product developments, 5% for commercialization and business development, and 10% for working capital and general corporate purposes [4]. Group 5: Investor Support and Company Background - The IPO has garnered support from 7 cornerstone investors, including notable firms such as Fude Resources and Sage Partners, with a total subscription amount of 93.4 million HKD [5]. - Han's Biopharma is a biotech company specializing in structural biology, translational medicine, and clinical development, with a product pipeline that includes a core product and nine other candidates targeting oncology and autoimmune diseases [5]. Group 6: Clinical Trials and Financial Performance - The core product, HX009, is a dual-function antibody fusion protein that has completed Phase I clinical trials in Australia and China, with ongoing studies for various cancers [6]. - Financially, Han's Biopharma reported revenues of 6.664 million RMB, 7.681 million RMB, and 2.626 million RMB for the years 2023, 2024, and the first eight months of 2025, respectively, with losses of 85.16 million RMB, 117 million RMB, and 87.44 million RMB during the same periods [6].
【IPO追踪】再现“三股齐发” 翰思艾泰获7家基石投资者支持