BRIEF: Innogen launches $87 million Hong Kong IPO

Guangzhou Innogen Pharmaceutical Group Co. Ltd. (6603.HK) launched its Hong Kong IPO on Thursday, aiming to sell 36.56 million shares for HK$18.68 apiece to raise about HK$683 million ($87 million). Share subscriptions will close on Aug. 12, with a trading debut set for Aug. 15.

The company recorded zero revenue in both 2023 and 2024 and losses of 730 million yuan and 175 million yuan those two years, respectively. It reported 38.14 million yuan in revenue in the first five months of this year, while its net loss for the five-month period widened to 97.88 million yuan compared to a 61.89 million yuan loss a year earlier.

The company plans to use about HK$549 million of the proceeds for ongoing and planned clinical trials and a planned commercial launch of its core products. Another HK$61 million will be used for working capital and general corporate purposes.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here

, ,
,

Related Articles

RELATED ARTICLES

  1. BRIEF: Coconut water leader IF launches $148 million Hong Kong IPO
    6603.HK
  2. BRIEF: Cloudbreak launches $78 million Hong Kong IPO
    2592.HK
  3. BRIEF: Newtrend launches Hong Kong IPO to raise up to $31 million
  4. Unisound launches modest IPO into crowded Hong Kong market
    9678.HK
  5. BRIEF: Breton launches $30 million Hong Kong IPO
    1333.HK
  6. BRIEF: Zenergy launches $128 million Hong Kong IPO
    3677.HK
  7. BRIEF: Zhou Liu Fu launches $143 million Hong Kong IPO
    6168.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Kelun-Biotech reported rising sales of its signature cancer drug

Precision cancer drugs show promise for Kelun-Biotech

The company reported rising sales of its signature cancer drug and could get national insurance coverage for other key products, potentially boosting full-year earnings Key Takeaways: Topline revenue actually fell…
6990.HK
Illustration of China's hydrogen battery industry

China plays defense on EV batteries, offense on hydrogen

China rolls out new rules restricting the export of cutting-edge technology for EV battery manufacturing. How will this affect Chinese battery makers setting up factories abroad? And hydrogen fuel cell maker Refire reports its revenue fell 10% in the first half of the year. What does this say about a Chinese sector that's getting huge government support, but has yet to find a mass audience?
3750.HK 2570.HK