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wrote a column · Jun 29 07:30

IPO Pricing | "Nephrology-focused biopharmaceutical company" Leagene Pharma-B received over 900x subscription, gaining HK$1,990 per lot in the grey market

Futu News, June 29:$ALEBUND-B (09637.HK)$announced its allotment results, pricing shares at HK$22.6 each, issuing a total of 56.7554 million shares, with each board lot comprising 100 shares. The shares officially listed today.
On the previous trading day, LB Pharmaceuticals-B closed up 88.05% in the grey market at HK$42.50 per share. Based on a board lot of 100 shares and excluding brokerage fees, one lot generated a profit of HK$1,990.
During the public offering phase, LB Pharmaceuticals-B received 963.56 times subscription. The final number of shares allocated to the public offering was 5.6756 million shares, representing approximately 10% of the total offering. A total of around 145,700 valid applications were received, with approximately 35,131 applications processed. The percentage of applicants who applied for one lot and were allotted shares was approximately 6% of the total number of shares applied for.
Additionally, during the international placement phase, LB Pharmaceuticals-B was subscribed 19.77 times. The final number of shares allocated to the international offering was 51.0798 million shares, accounting for 90% of the total offering. Futu compiled the relevant data in the table below:
Futu News, June 29:$ALEBUND-B (09637.HK)$announced its allotment results, pricing shares at HK$22.6 each, issuing a total of 56.7554 million shares, with each board lot comprising 100 shares. The shares officially listed today. On the previous trading day, Leagene Pharma-B rose 88.05% in the grey market, closing at HK$42.5 per share. With each board lot consisting of 100 shares, investors gained HK$1,990 per lot, excluding fees. During the public offering phase, Leagene Pharma-B received 963.56x subscription. The final number of shares allocated to the public offering was 5.6756 million shares, representing approximately 10% of the total offering. A total of approximately 145,700 valid applications were received, with around 35,131 applications processed. The approximate percentage of applicants who received one board lot relative to their total applied shares was 6%. Additionally, during the international offering phase, Leagene Pharma-B received 19.77x subscription. The final number of shares allocated to the international offering was 51.0798 million shares, accounting for 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview Leagene Pharma is a biopharmaceutical company that, according to Frost & Sullivan, possesses the broadest global pipeline of drug candidates targeting kidney-related indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one...
Futu News, June 29:$ALEBUND-B (09637.HK)$announced its allotment results, pricing shares at HK$22.6 each, issuing a total of 56.7554 million shares, with each board lot comprising 100 shares. The shares officially listed today. On the previous trading day, Leagene Pharma-B rose 88.05% in the grey market, closing at HK$42.5 per share. With each board lot consisting of 100 shares, investors gained HK$1,990 per lot, excluding fees. During the public offering phase, Leagene Pharma-B received 963.56x subscription. The final number of shares allocated to the public offering was 5.6756 million shares, representing approximately 10% of the total offering. A total of approximately 145,700 valid applications were received, with around 35,131 applications processed. The approximate percentage of applicants who received one board lot relative to their total applied shares was 6%. Additionally, during the international offering phase, Leagene Pharma-B received 19.77x subscription. The final number of shares allocated to the international offering was 51.0798 million shares, accounting for 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview Leagene Pharma is a biopharmaceutical company that, according to Frost & Sullivan, possesses the broadest global pipeline of drug candidates targeting kidney-related indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one...
Company Overview
LianBio is a biopharmaceutical company which, according to Frost & Sullivan, possesses the world’s broadest pipeline of investigational therapies covering renal indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one preclinical candidate (AP303), and four preclinical candidates (AP308, AP304, AP305, and AP307).
LianBio has assembled a specialized team dedicated to delivering high-quality products. The company develops differentiated and effective therapies targeting the largest global renal disease indications and is committed to meeting global regulatory requirements through its preclinical and clinical evidence to achieve proof-of-concept as early as possible. Leveraging deep clinical expertise, the company advances global, synchronized development and regulatory submissions through multicenter clinical trials and accelerates clinical development via efficient execution.
Financial Summary
In 2024 and 2025, Ligand Pharmaceuticals reported total losses of RMB 335.1 million and RMB 751.8 million, respectively. The company’s research and development expenses increased by 58.3%, or RMB 137.2 million, from RMB 235.4 million in 2024 to RMB 372.6 million in 2025.
Futu News, June 29:$ALEBUND-B (09637.HK)$announced its allotment results, pricing shares at HK$22.6 each, issuing a total of 56.7554 million shares, with each board lot comprising 100 shares. The shares officially listed today. On the previous trading day, Leagene Pharma-B rose 88.05% in the grey market, closing at HK$42.5 per share. With each board lot consisting of 100 shares, investors gained HK$1,990 per lot, excluding fees. During the public offering phase, Leagene Pharma-B received 963.56x subscription. The final number of shares allocated to the public offering was 5.6756 million shares, representing approximately 10% of the total offering. A total of approximately 145,700 valid applications were received, with around 35,131 applications processed. The approximate percentage of applicants who received one board lot relative to their total applied shares was 6%. Additionally, during the international offering phase, Leagene Pharma-B received 19.77x subscription. The final number of shares allocated to the international offering was 51.0798 million shares, accounting for 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview Leagene Pharma is a biopharmaceutical company that, according to Frost & Sullivan, possesses the broadest global pipeline of drug candidates targeting kidney-related indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one...
Use of Proceeds
Regarding the use of proceeds, LB Pharmaceuticals expects net proceeds from the global offering to amount to approximately HK$1.181 billion (based on an issue price of HK$22.60 per share). According to the prospectus, LB Pharmaceuticals intends to allocate the proceeds from the global offering to the following purposes:
Approximately 71% will be used for the ongoing and planned clinical development and regulatory activities for the company’s product candidates; approximately 7% will be allocated to advance preclinical development of pipeline expansion candidates (including AP304, AP305, and AP307); approximately 12% will be used to upgrade manufacturing capabilities and commercialize the company’s drug candidates upon marketing approval; and approximately 10% will be used for working capital and other general corporate purposes.
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Futu News, June 29:$ALEBUND-B (09637.HK)$announced its allotment results, pricing shares at HK$22.6 each, issuing a total of 56.7554 million shares, with each board lot comprising 100 shares. The shares officially listed today. On the previous trading day, Leagene Pharma-B rose 88.05% in the grey market, closing at HK$42.5 per share. With each board lot consisting of 100 shares, investors gained HK$1,990 per lot, excluding fees. During the public offering phase, Leagene Pharma-B received 963.56x subscription. The final number of shares allocated to the public offering was 5.6756 million shares, representing approximately 10% of the total offering. A total of approximately 145,700 valid applications were received, with around 35,131 applications processed. The approximate percentage of applicants who received one board lot relative to their total applied shares was 6%. Additionally, during the international offering phase, Leagene Pharma-B received 19.77x subscription. The final number of shares allocated to the international offering was 51.0798 million shares, accounting for 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview Leagene Pharma is a biopharmaceutical company that, according to Frost & Sullivan, possesses the broadest global pipeline of drug candidates targeting kidney-related indications. As of the latest practicable date, the company’s clinical and preclinical portfolio consists of one core product, AP301, and six other candidates, including one late-stage clinical candidate (AP306), one...
Editor/Vincent
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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