BRIEF: Metis TechBio launches $250 million Hong Kong IPO
Nanomaterial analytics company Metis TechBio Co. Ltd. (7666.HK) on Tuesday launched its Hong Kong IPO, aiming to raise about HK$2 billion ($255 million) by selling 201 million shares for HK$10.50 each. The deadline for subscriptions is May 8, with trading of the stock set to begin on May 13.
At the IPO price, the company will have a market cap of about HK$12 billion. Eighteen cornerstone investors, including BlackRock, UBS, Mirae Asset Securities and Orix Asia, have agreed to purchase 110 million shares, or about 55% of the total being sold.
The company plans to use half of the IPO proceeds for R&D, 20% for ongoing and future clinical trials, and 10% to develop its animal health and longevity businesses. Metis TechBio reported 105 million yuan ($15.4 million) in revenue last year, up sharply from 1.5 million yuan in 2024. Its loss over that time narrowed to 392 million yuan last year from 499 million yuan in 2024.
By Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
BRIEF: Busy Ming launches $248 million Hong Kong IPO
1768.HK -
BRIEF: Star Sports Medicine launches $97 million Hong Kong IPO
1609.HK
-
BRIEF: Qingdao Gon Tech launches $128 million Hong Kong IPO
002768.SHE
-
BRIEF: Forest Cabin launches $130 million Hong Kong IPO
2657.HK
-
BRIEF: Wuxi Lead Intelligent launches $534 million Hong Kong IPO
0470.HK300450.SHE
-
BRIEF: Shenzhen Woer launches $350 million Hong Kong IPO
9981.HK002130.SHE
