Medtide Inc. (HKG:3880) took in HK$428.8 million in net proceeds from its initial public offering in Hong Kong after pricing the shares at the top end of the indicative price range.
The peptide-focused CRDMO priced the IPO shares at HK$30.60 apiece, the upper limit of the price guidance of as low as HK$28.40, according to a Friday after-market hours filing.
The Hong Kong public offer portion of the deal was 301.15 times subscribed, triggering the reallocation of 6,720,000 shares from the international offering and taking the total number of shares offered under this tranche to 8,400,000 from 1,680,000 initially.
The international offering was 2.43 times subscribed and the company issued 8,400,000 shares, reduced from 15,120,000 shares initially following the reallocation.
Medtide will make its trading debut on the Hong Kong bourse Monday, June 30.
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.