On July 2, Alebund Pharmaceuticals-B declined 21.6% in regular trading, trading at HK$24.0/share, with turnover of HK$28.99 million.

The stock listed on the Hong Kong Exchange on June 29 at an offer price of HK$22.60/share and surged 103.54% on its debut day to close at HK$46.00. Since then, shares have retreated sharply, now approaching the IPO price level. The IPO attracted significant investor interest with 963.56 times oversubscription in the public offering tranche and 11 cornerstone investors including GIC, Loomis Sayles, and Tencent collectively subscribing approximately HK$639 million, representing 49.78% of shares offered.

Alebund Pharmaceuticals is a biopharmaceutical company focused on kidney diseases, with a pipeline covering hyperphosphatemia, renal anemia, IgA nephropathy, and diabetic kidney disease. Its core product AP301, an oral phosphate binder for hyperphosphatemia treatment, has completed China Phase III registration trials with a near-term NDA submission expected.

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