Impact Therapeutics (HKG:7630) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to about HK$913 million from the deal.

The China-based biotechnology company is offering 42 million shares at an indicative maximum price of HK$21.75 per share, according to a Hong Kong bourse filing.

The offering comprises 4.2 million shares for Hong Kong investors and 37.8 million shares for international investors, subject to reallocation and the overallotment option.

The offer price is expected to be determined by May 11, with allocation results due by May 12, ahead of the company's planned trading debut on May 13.

Net proceeds will be used mainly to fund the clinical development, regulatory approval, and commercialization of its core product, senaparib, as well as support the development of key pipeline products.

The funds will also be used for research and development of other pipeline assets, expansion of R&D platforms, and for working capital and general corporate purposes.

Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are acting as joint sponsors.

Goldman Sachs (Asia) and China International Capital Corporation Hong Kong Securities are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers.

CMB International Capital is acting as a joint global coordinator and joint lead manager, while Tiger Brokers (HK) Global is acting as a joint bookrunner and joint lead manager.