TenNor Therapeutics Sets HK$75.70 Offer Price for Hong Kong IPO, Targeting HK$626.84 Million Raise

Bulletin Express
May 14

TenNor Therapeutics (Suzhou) Limited will offer 8.28 million H shares at HK$75.70 each in its upcoming Hong Kong listing, implying gross proceeds of approximately HK$626.84 million before any exercise of the Offer Size Adjustment Option or the Over-allotment Option.

The Global Offering comprises: • Hong Kong Public Offering: 0.83 million H shares, or 10.0% of the base deal size, subject to reallocation. • International Offering: 7.45 million H shares, or 90.0% of the base deal size, subject to reallocation and both options.

To meet excess demand, the company may issue up to 1.24 million additional H shares (15% of the base deal) under an Offer Size Adjustment Option exercisable by the Overall Coordinators on or before two business days prior to listing. A separate Over-allotment Option permits the issuance of up to 1.24 million extra H shares (or 1.43 million if the Offer Size Adjustment Option is fully exercised) within 30 days of listing to cover over-allocations.

Key timetable • Electronic applications open: 9:00 a.m. HKT, 14 May 2026 • Application lists close: 12:00 noon HKT, 19 May 2026 • Allocation results announcement: on or before 11:00 p.m. HKT, 21 May 2026 • Expected listing and start of trading: 9:00 a.m. HKT, 22 May 2026 The shares will trade in board lots of 50 under stock code 6872.

Settlement and stabilisation Subject to approval, the H shares will be accepted for clearing through CCASS on the first day of trading. CLSA Limited will act as Stabilizing Manager and may undertake price-stabilisation activities for up to 30 days after the last day for lodging Hong Kong applications. The Hong Kong Underwriting Agreement allows termination up to 8:00 a.m. on the listing date upon occurrence of specified events.

Application process TenNor will conduct a fully electronic Hong Kong Public Offering. Investors can apply via the HK eIPO White Form service (www.hkeipo.hk) or instruct brokers/custodians to apply through HKSCC’s EIPO channel. Minimum application size is 50 shares, requiring HK$3,823.17 inclusive of brokerage and levies.

Issuer profile TenNor Therapeutics (Suzhou) Limited is a PRC-incorporated biopharmaceutical company. The board is chaired by Executive Director Dr. Ma Zhenkun, who also serves as Chief Executive Officer and General Manager. The prospectus, dated 14 May 2026, is available on the Hong Kong Stock Exchange website (www.hkexnews.hk) and the company’s website (www.tennortherapeutics.com).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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