Innogen IPO becomes second largest in 2025 by oversubscription

Diabetes drug maker Guangzhou Innogen Pharmaceutical Group has become the second largest initial public offering by oversubscription this year.

Local media reported its retail tranche was nearly 5,364 times oversubscribed, surpassing the record of 5,257 times made by China's largest bubble tea and drinks chain Mixue Group (2097) when it listed in March.

The drug maker pulled in margin loans of around HK$370 billion.

The group plans to raise HK$683 million and is expected to debut this Friday.

STAFF REPORTER