【New Stock Listing】BIOKIN (2615) subscription entry fee is 39,293 yuan, and 5 funds including the US-listed pharmaceutical company BMS are invested in the stock
BIOKIN (2615) is offering shares for subscription today until November 12, planning to globally issue 8.6343 million H shares, with an entry fee of HKD 39,292.31, and is expected to be listed on November 17. This offering has introduced cornerstone investors, including Bristol-Myers Squibb (BMS), who have collectively subscribed for approximately USD 32 million. The net fundraising amount is about HKD 3.018 billion, primarily for research and development and global supply chain construction. BIOKIN focuses on the research and development of biopharmaceuticals, reporting a loss of RMB 1.12 billion in the first half of 2023
According to a report from the Economic News Agency on the 6th, mainland biopharmaceutical company BIOKIN (02615) (Shanghai: 688506) is offering shares from today until November 12 (Wednesday), planning to globally issue 8.6343 million H shares, of which approximately 10% will be publicly offered in Hong Kong, with the remainder for international offering. The price per share is set between HKD 347.5 and HKD 389, with a maximum fundraising amount of HKD 3.359 billion. Each lot consists of 100 shares, and the entry fee is HKD 39,292.31. The company expects to be listed on November 17 (Monday), with joint sponsors being Goldman Sachs, JP Morgan, and CITIC Securities.
The company has introduced cornerstone investors, including existing minority shareholders or their close associates such as OAP III, Franklin Templeton, and GL Capital, as well as the globally listed multinational pharmaceutical company Bristol-Myers Squibb (BMS) and venture capital fund Athos Capital, collectively subscribing approximately USD 32 million (about HKD 249 million). Assuming the offering price is the median price of HKD 368.25, the total number of shares subscribed will be approximately 674,700 shares, accounting for about 0.16% of the total issued share capital of the company after the global offering is completed.
BIOKIN estimates that the net fundraising amount from this offering will be approximately HKD 3.018 billion, of which about 60% will be used for the research and development activities of candidate biopharmaceuticals outside mainland China; about 30% will be used to establish the company's global supply chain, primarily to fund the construction or acquisition of new production facilities for candidate biopharmaceuticals outside mainland China; and about 10% will be for working capital and other general corporate purposes outside mainland China.
Founded in 2006, BIOKIN focuses on the research and development of small molecule drugs, biopharmaceuticals, and antibody-drug conjugates (ADC drugs) for pediatric and cardiovascular diseases, including 26 generic drug products and 5 traditional Chinese medicine products. It is a comprehensive medical enterprise group with capabilities in early-stage research and development, clinical development, production, and commercialization. The company operates two main businesses: innovative biopharmaceuticals and generic drugs and traditional Chinese medicine. In the first half of this year, the company recorded a loss of RMB 1.12 billion, while in the same period in 2024, it is expected to earn RMB 4.67 billion. (eh)
