On June 5, Tianchen Bio-B rose 51.05% in regular trading on its first day of listing, trading at 146.7 HKD/share, with trading volume of approximately 306 million HKD, significantly above the IPO price of 96.06 HKD.

The surge was driven by the company's blockbuster IPO debut. The public offering portion received 4762.58 times oversubscription with approximately 266,400 valid applications, resulting in a one-lot winning rate of only about 2%. Prior dark-pool trading had already indicated strong demand, with shares trading at 225.8 HKD, over 135% above the offering price. The IPO raised net proceeds of approximately 1.255 billion HKD, with cornerstone investors including OrbiMed Funds, TruMed Funds, Huatai Capital, RuiYuan Fund, and Fullgoal Fund committing a combined 87 million USD.

Tianchen Bio-B is a clinical-stage biopharmaceutical company headquartered in Shanghai, China, focusing on the autonomous discovery and development of biologics for allergic and autoimmune diseases. Its core product LP-003, an anti-IgE antibody, has initiated eight clinical trials in China, with a Phase III trial for seasonal allergic rhinitis expected to file for market approval soon.

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