On June 29, Alebund Pharmaceuticals-B (09637.HK) surged 80.53% in regular trading on its first day of listing, trading at HKD 41.98 per share with turnover of HKD 288 million. The stock was priced at HKD 22.60 per share in its IPO.

The strong debut was driven by overwhelming investor demand during the subscription period. The Hong Kong public offering was oversubscribed approximately 963.56 times, receiving around 145,729 valid applications, with a one-lot allocation rate of only 6%. The international placement was also oversubscribed 19.77 times. The company raised net proceeds of approximately HKD 1.181 billion from the global offering of 56.76 million H shares.

Market enthusiasm was further supported by the company's cornerstone investor lineup of 11 institutions including GIC, Loomis Sayles, RTW Fund, Tencent, and Cormorant, collectively subscribing approximately HKD 639 million, representing 49.78% of total offering shares. Dark pool trading prior to listing had already indicated strong demand, with prices rising 88-94% above the IPO price.

Alebund Pharmaceuticals is a biopharmaceutical company focused on kidney disease therapies, holding what it describes as the broadest global pipeline of renal indication drug candidates, including core product AP301 for hyperphosphatemia in dialysis patients and AP306, a breakthrough-designated phosphate transporter inhibitor currently in global Phase IIb trials.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)