LongBio Pharma (Suzhou) (HKG:1779) said the overallotment option of its Hong Kong initial public offering was fully exercised on Tuesday, according to a same-day Hong Kong bourse filing.

The biopharmaceutical company expects to receive additional net proceeds of about HK$194.3 million.

The exercise involved the issue of 2.13 million additional H-shares at HK$96.06 each, representing about 15% of the total offer shares available under the global offering.

Dealings in the overallotment shares are expected to begin on July 6, the filing said.