JIANGXI BIO (06915) commenced trading on the stock exchange today. The company's shares were priced at HK$11.2 each for its initial public offering, which involved the issuance of 36.2345 million shares in lots of 500. The net proceeds raised from the offering are estimated to be approximately HK$339 million.

In early trading, the stock opened substantially lower. At the time of writing, it was down 33.93%, trading at HK$7.4, with a turnover of HK$91.0094 million.

According to its prospectus, JIANGXI BIO is the largest provider and exporter of human Tetanus Antitoxin (human TAT) in China and operates as a fully integrated antiserum platform company. Data from Frost & Sullivan indicates that the company is the leading global supplier of human TAT, holding market shares of 65.8% in China and 36.6% worldwide based on 2024 sales volume.

In 2025, the company's total sales volume of human TAT reached 29.9 million doses. This comprised 13.5 million doses sold within China and 16.4 million doses exported to international markets.

The company has developed a synergistic product portfolio encompassing both human and veterinary pharmaceuticals. Beyond its core human TAT product, its existing pipeline includes veterinary Tetanus Antitoxin, Pregnant Mare Serum Gonadotropin (PMSG), and several hormonal drugs intended to supplement or support PMSG therapy. These products are slated for market launch following the completion of re-registration for marketing approval.