Vaccine maker Ab&B Bio-Tech files for Hong Kong IPO

Chinese vaccine developer Ab&B Bio-Tech has filed for an initial public offering in Hong Kong to fund product development and registration efforts at home and abroad, according to its preliminary prospectus.

The Jiangsu-based firm counts a quadrivalent influenza subunit vaccine and a freeze-dried rabies vaccine currently under development as its two core products. It also has 11 other vaccine candidates, covering various disease areas with considerable needs for vaccination.

It reported revenue of around 413,000 yuan (HK$452,770) for the three months that ended in March 31, a 34.9 percent year-on-year increase driven by seasonal flu outbreaks and virus circulation. However, its net loss widened 37.9 percent to 87.3 million yuan over the same period.

Citic Securities (6030) and CMB International are acting as joint sponsors for the proposed listing.

STAFF REPORTER