China's Xuanzhu Biopharmaceutical‘s retail tranche 215 times oversubscribed

Xuanzhu Biopharmaceutical, which is being spun off from China's Sihuan Pharmaceutical (0460), has attracted HK$18.5 billion in margin loans, making its retail tranche 237.4 times oversubscribed, according to Futu Securities.

The drugmaker aims to raise HK$781 million by issuing 67.3 million shares at an offer price of HK$11.6.

It requires a minimum investment of HK$5858.5 per board lot of 500 shares.

The book-building period will end at noon on October 10, and the firm is set to debut on October 15.

Last year, the company expanded its net loss by 85.1 percent to 556.4 million yuan (HK$608.3 million), while its revenue surged 1036.7 times to 30.1 million yuan from its core product KBP-3571 for digestive diseases during the period.