BIOSTAR PHARM-B (02563) pricing IPO at $16-22 X
23/10/2024 11:12
(Infocast News)      BIOSTAR PHARM-B (02563) is expected to start its initial public offering on 23 October 2024. Details of the IPO are as follows:

Shares for offer: 14.588 million H shares

Offer price: HK$16-22 per share

Net proceeds: HK$234 million (assuming an offer price of HK$19 per share) 

Use of net proceeds:
(i) 44.9% used to fund the ongoing and planned clinical trials of Core Product;
(ii) 38.9% used to fund the ongoing and planned clinical trials and pre-clinical studies of products besides Core Product and the investigator-initiated trials for Core Product;
(iii) 3% used to strengthen domestic commercialization capabilities and construct global marketing network;
(iv) 3.2% used to expand production capacity; and
(v) 10.0% used as working capital and for general corporate purposes.

Cornerstone investors: 
- Novotech SG: US$3,000,000
- Baheal Wellness: US$2,000,000
- SilkyWater Absolute Return: US$8,000,000
- Wealth Strategy: US$10,000,000

Board lot size: 200 shares

IPO entry fee: HK$4444.38

Offer period: 23 October, 2024 to noon on October 28, 2024

Listing date: October 31, 2024

(WL) 

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