02566 九源基因
JIUYUAN GENE
JIUYUAN GENE
| Register Close | 2024/11/25 IPO Closing Tomorrow |
| Listing Date | 2024/11/28 |
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IPO Detail
COMPANY PROFILE
Hangzhou Jiuyuan Gene Engineering Co., Ltd. founded in 1993 and headquartered in Zhejiang Province, is a biopharmaceutical company in China with over 30 years of proven track record in the R&D, manufacturing and commercialization of biopharmaceutical products and medical devices. The Group focus on four large and fast-growing therapeutic areas: orthopedics, metabolic diseases, oncology, and hematology.
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Collectively, these four therapeutic areas accounted for 51.5% of the total pharmaceutical sales in China in 2023, according to CIC. The Group’s drug-device combination product, Guyoudao, is the first product containing bone repair material with rhBMP-2 approved for sale in China, and ranked first by sales revenue in China’s bone repair material market in 2023.
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Centred around these therapeutic areas, the Group have built a diversified product portfolio comprising eight marketed products, including China’s first recombinant human bone morphogenetic protein-2 (“rhBMP-2”) bone repair material, Guyoudao, and over ten product candidates, including the first semaglutide biosimilar in China to have obtained an IND approval and filed an NDA, JY29-2, as of November 3, 2024.
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The Group had two manufacturing sites located in Hangzhou, Zhejiang Province with a total area size of approximately 28,000 square meters. The Group’s customers primarily consist of its distributors and hospitals which directly purchase pharmaceutical and drug-device combination products from it.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 45.40M H shares |
| No. of International Offer Shares | 40.86M H shares |
| No. of HK Offer Shares | 4.54M H shares |
| Offer Price | $11.48 - $12.56 |
| Stock Code | 2566 |
| Sponsor(s) | Huatai Financial Holdings (Hong Kong) Limited |
| Underwriter(s) | Huatai Financial Holdings (Hong Kong) Limited, CLSA Limited, CMB International Capital Limited, Ruibang Securities Limited, Patrons Securities Limited |
TIME TABLE
| Application Period | Nov 20 (Wed) - noon, Nov 25 (Mon) |
| Price Determination Date | Nov 26 (Tue) |
| Result Announcement Date | On or before Nov 27 (Wed) |
| Result Announcement Date | On or before Nov 27 (Wed) |
| Result Announcement Date | On or before Nov 28 (Thu) |
| Dealings in Shares commence on | Nov 28, 2024. (Thu) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $11.48 - $12.56 |
| Capitalization (H Shares) | 1.25B - 1.37B |
| NAV / share ($) | $5.80 - $5.99 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 12.02, the net proceeds raised would be HKD 468.10M, of which |
| 40% : Research and development of selected product candidates in strategically focused therapeutic areas |
| 30% : Marketing and commercialization of existing and near-commercialized products |
| 10% : Pursue strategic collaboration to enrich therapeutic areas product portfolio |
| 10% : Used on manufacturing system to construct new production lines and further automate |
| 10% : Ｗorking capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).