Impact Therapeutics (HKG:7630) raised HK$759.5 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$20.10 per H-share, near the lower end of the offer price range, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.

The Chinese biotech company offered nearly 42 million H-shares in the global offering.

The Hong Kong public offer was 2,282.4 times subscribed, with a final allocation of 4.2 million shares, representing 10% of the total offering.

The international offering was 24.58 times subscribed, with a final allocation of 37.8 million shares, or 90% of the total offering.

An over-allocation of 6.3 million shares was made under the global offering.

Cornerstone investors, including Nanjing Biotech and Pharmaceutical Valley Construction and Development, Huang River Investment, and LAV Star, were allocated about 13.9 million shares representing 33.19% of the global offering, according to the filing.

Impact Therapeutics is scheduled to debut on the Hong Kong bourse on Wednesday, May 13.