Kintor Pharmaceutical, a pre-profit mainland biotech company, launches a Hong Kong initial public offering today to raise up to HK$1.86 billion, setting the indicative offer price range between HK$17.8 and HK$20.15 apiece.
The issuer is offering around 92.35 million shares and the minimum investment would be HK$10,176.53 for a board lot of 500 shares. The stock is scheduled to debut on May 22.
Kintor mainly develops drugs for prostate cancer and other androgen receptor-related diseases. The Jiangsu-based firm has invited three cornerstone investors, including an investment arm of state-controlled Gree Group, to subscribe shares worth US$98 million (HK$764.4 million).
Meanwhile, Yeahka, a Chinese payment technology services provider backed by Tencent (0700), has passed a listing hearing for its Hong Kong IPO that could raise about US$300 million. The company recorded a net profit of 84.66 million yuan (HK$92.49 million) last year, after seeing net loss of 342 million yuan in 2017 and 183 million yuan in 2018. Revenue last year expanded by 1.27 times to 2.26 billion yuan.
And Henan-based property manager Central China New Life, scheduled to debut on Friday, was reported to have set its IPO offering price at HK$6.85 a share.
