IPO Pricing | Hansi Aitai-B listed today, with 3074.09 times subscription, priced at HKD 32 per share, and a 1% allocation rate for one lot.

Futu News reported on December 23: $HANXBIO-B (03378.HK)$ The allotment results were announced, with shares priced at HKD 32 each, issuing a total of 18.321 million shares, 100 shares per lot, and officially listed today.

In the previous trading session, Hansi Aitai's grey market closed up 2.06%, at HKD 32.66, with a turnover exceeding HKD 41 million. Each lot consists of 100 shares, and excluding handling fees, the profit per lot is HKD 66.

During the public offering phase, Hansi Aitai received 3074.09 times subscription. The final number of shares offered to the public was 1.8321 million, accounting for approximately 10% of the total shares offered. A total of about 139,700 valid applications were received, with 17,689 applications processed. The approximate percentage of shares allocated for one-lot subscriptions relative to the total number of applied shares is 1%.

In addition, during the international placement phase, Hansi Aitai received 5.78 times subscription, with the final number of international placement shares amounting to 16,488,900 shares, representing 90% of the total number of offered shares. Futu Information has compiled the relevant data in the table below:

Company Profile

HANX Aiotai is a biotechnology company with proprietary expertise and experience in structural biology, translational medicine, and clinical development. Since 2016, the company has developed a product pipeline, including one core product and nine other pipeline candidates, namely (i) three clinical-stage drug candidates targeting oncology, including the company's core product HX009 and key products HX301 and HX044; and (ii) seven preclinical-stage candidates, including antibody-drug conjugates, bispecific antibodies, and monoclonal antibodies for autoimmune and oncology markets.

Financial Overview

In terms of financial performance, Huxi Aitai generated no revenue. The majority of its funds were utilized for research and development costs, other expenses, administrative expenses, and interest expenses to expand business operations. In the fiscal years 2023, 2024, and the first eight months of 2025, R&D expenditures during the corresponding periods amounted to RMB 46.663 million, RMB 74.721 million, and RMB 56.178 million, respectively, representing 73.0%, 61.8%, and 67.2% of total operating expenses in the respective periods.

Use of Proceeds

Regarding the use of proceeds, the net proceeds from Hansi Aitai's global offering amounted to approximately HKD 531 million (based on an offer price of HKD 32). According to the prospectus, Hansi Aitai intends to allocate the proceeds from the global offering for the following purposes:

Approximately 35% will be used for the development of the company's core product (namely HX009); approximately 33% will be allocated to the development of its key products (namely HX301 and HX044); approximately 17% will be dedicated to the development of other significant products; approximately 5% will fund commercialization and/or business development activities; and approximately 10% will be utilized for working capital and other general corporate purposes.

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Editor/Afina

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