Three Chinese firms kick start bookbuilding for Hong Kong IPO, raising up to $3b

Three Chinese pharma and tech companies began their bookbuilding on Thursday for a Hong Kong listing, seeking to raise up to HK$3.49 billion, with a debut scheduled for June 29.

Alebund Pharmaceuticals (Jiangsu), a clinical-stage biopharmaceutical company, is seeking to raise HK$1.28 billion by offering 56.76 million H shares. The offer price is HK$22.6 per share. Each board lot of 100 shares has an entry fee of HK$2,282.8.

Baige Online Digital Technology, a leading Chinese insurance technology company based in Xiamen, Fujian Province, plans to offer 33.34 million H shares, raising HK$680 million. The offer price is between HK$15.6 and HK$20.28 per share. It requires an entry fee of HK$4,096.9 per board lot of 200 shares.

Crealights Technology, a Chinese manufacturer of high-speed optoelectronic components, aims to raise HK$1.53 billion through offering 13.43 million H shares. The offer price is HK$114 per share, with the entry fee for each board lot of 50 shares coming to HK$5,757.5.

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