IPO Pricing | RiboBio-B debuts today with 101.06 times subscription, priced at HK$57.97 per share; over HK$4,000 profit per lot in the gray market

Futu News reported on January 9th, $RIBOLIFE-B (06938.HK)$ The allotment results were announced, with shares priced at HK$57.97 each. A total of 31,610,400 shares were issued, with each lot consisting of 200 shares, and it officially listed today.

On the last trading day, Ribo Biotech-B closed up 34.55% in the grey market at HK$78 per share. Each lot consists of 200 shares, and without considering handling fees, each lot yielded a profit of HK$4,006.

During the public offering phase, Ribo Biotech-B received subscriptions amounting to 101.06 times the available shares. The final number of shares offered to the public was 2.7488 million shares, representing approximately 8.70% of the total shares available for subscription. A total of about 42,771 valid applications were received, with 5,367 applications processed. The percentage of allocated shares relative to the total applied shares for one lot subscription was approximately 1.71%.

Additionally, during the international placement phase, Ribo Biotech-B was subscribed 16.7 times over. The final number of shares allocated internationally was 28.8616 million shares, accounting for 91.30% of the total shares available for distribution. Futu Information has compiled the relevant data in the table below:

Company Profile

Ribo Biotech is a biopharmaceutical company engaged in the research and development of small nucleic acid drugs, with a particular focus on siRNA therapies. Founded in 2007, the company is one of the pioneers in this field. Its mission is to lead the development of new therapies aimed at revolutionizing the treatment of diseases with high unmet needs, including cardiovascular, metabolic, renal, and liver diseases. After nearly two decades of dedicated research, backed by a robust intellectual property portfolio in the global RNA interference (RNAi) technology space, the company has built an integrated self-developed technology platform tailored for small nucleic acid therapies. These platforms cover the entire drug development lifecycle, from drug design, delivery, modification to CMC and production, laying a solid foundation for the company's potential first-in-class and best-in-class small nucleic acid drug candidates.

Ribo Biotech is dedicated to bringing small nucleic acid therapies to patients worldwide. To achieve this goal with high quality and efficiency, the company has established an integrated global drug development system. Under the leadership of a scientific team composed of core members with over 20 years of experience in developing small nucleic acid drugs and other pharmaceuticals, as well as industry insight, the company has obtained IND/CTA approvals from major global regulatory bodies, shortening the cycle from target selection to the initiation of clinical trials for candidate drugs.

In 2024 alone, the company received five IND/CTA approvals from regulatory authorities, four of which were for Phase II clinical trials. The company is advancing multiple clinical trials across various countries globally, including Europe, China, and Australia, leveraging different regional regulatory pathways to accelerate drug development.

Financial Overview

For the year ended December 31, 2024, and the six months ended June 30, 2024, and June 30, 2025, Ribo Biotech generated revenues of RMB 142.6 million, RMB 66.3 million, and RMB 103.8 million respectively, a significant portion of which came from the company’s licensing and collaboration agreements. For the years ended December 31, 2023, and December 31, 2024, and the six months ended June 30, 2024, and June 30, 2025, the company's research and development (R&D) expenses were RMB 315.8 million, RMB 280.4 million, RMB 134.8 million, and RMB 129.1 million respectively, accounting for 79.5%, 75.0%, 77.1%, and 71.0% respectively of the company’s total operating expenses (which include R&D expenses, administrative expenses, and sales and distribution expenses).

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Ribo Biotech expects net proceeds of approximately HK$1.702 billion from the global offering (based on an offer price of HK$57.97). According to the prospectus, Ribo Biotech intends to use the proceeds from the global offering for the following purposes:

Approximately 37.4% will be used for the R&D of core product RBD4059; approximately 19.6% will be used for the R&D of RBD5044; approximately 15.9% will be used for the R&D of RBD1016; approximately 10.1% will fund the R&D of pipeline assets in the preclinical application trial stage (including (i) SR122, a dual-target lipid-lowering siRNA candidate drug for dyslipidemia; and (ii) RBD8088, a conjugated anticancer drug for glioma); approximately 8.9% will be allocated to advance the development of the company’s preclinical assets that have not yet entered the preclinical application trial stage and strengthen the company's technology platforms; approximately 8.1% will be used for working capital and other general corporate purposes.

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Editor/Joe

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