Futu News on December 29th reported that this Wednesday $SIRNAOMICS-B (02257.HK)$announced the issuance of 7.54 million shares priced at HK$65.9 per share, in units of 50 shares, expected to be listed on December 30th.
In the public offering phase, Sinno Pharmaceutical-B was subscribed approximately 5.68 times. The final number of shares allocated to the public offering is 0.754 million shares, accounting for 10% of the total shares offered (prior to the exercise of any over-allotment option). A total of 6124 valid applications were received, with a 21.77% chance of winning in single-hand subscription, with 5 hands needed for successful subscription.
In addition, the international offering has been oversubscribed, with the final number of shares offered being 6.786 million, equivalent to 90% of the total shares offered (prior to the exercise of any over-allotment option). Futu News has compiled the relevant data as shown in the table below:
In terms of fundraising purposes, the company plans to use the net proceeds of approximately 0.396 billion Hong Kong dollars for the following purposes: approximately 57.9% will be used to fund the development and commercialization of STP705, approximately 15.6% will be used for the development of STP707, approximately 15.4% will be used for the company's GalNAc program products, such as STP122G, STP133G, and STP144G, as well as other preclinical stage candidate products; approximately 7.3% will be used for the research and development of other preclinical candidate drugs, approximately 3.8% will be used for general corporate and operating funds.
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