Some retail investors of diabetes drug maker Guangzhou Innogen Pharmaceutical Group said they failed to secure a minimum board lot even though making a maximum subscription involving over HK$34.1 million, as Hong Kong’s listing market remains hot.
Innogen was also the first initial public offering to debut in Hong Kong after the city’s new clawback and pricing rules took effect on August 4.
Before the official allotment announcement scheduled to be unveiled on Thursday, some brokerages disclosed the results to their clients one day earlier, according to some social media posts.
One investor who subscribed to nearly 1.83 million new shares of Innogen, the maximum amount that a retail client can apply to, was notified that no single board lot was allocated, according to the screenshot posted on social media.
But some users posted that they acquired one board lot out of a 1,500-lot subscription.
The biotech was said to be at least over 5,300 times subscribed in the retail tranche involving 36.56 million shares to raise HK$68.28 million.
STAFF REPORTER
