Visen Pharmaceuticals, a biopharmaceutical company specializing in endocrinology treatments in China, is set to list on the Hong Kong Stock Exchange under the ticker 02561.HK.
The IPO is scheduled for March 21, 2025, aiming to capitalize on favorable market conditions.
Visen aims to raise approximately HK$672 million (US$86.5 million) through this offering.
The company is offering 9.9 million shares at a price range of HK$68.44 to HK$75.28 per share, aiming to raise between HK$677.56 million and HK$745.27 million.
Visen Pharmaceuticals has previously secured funding from investors such as CDG Capital, Cormorant Capital, HBM Healthcare Investments, and HongShan
Morgan Stanley and Fuerst Financial are acting as joint sponsors for this IPO.
Company Overview
Business Model and Industry: Visen Pharmaceuticals focuses on developing and commercializing innovative endocrinology therapies in China, addressing conditions such as growth hormone deficiencies.
Visen operates in a niche market with limited direct competition, positioning itself as a key player in China’s endocrinology therapeutic sector.
Management Team: The leadership includes CEO An-bang Lu (Pony Lu) and board members such as Cyber Cao, Shan Fu, Michael Wolff Jensen, Jan Møller Mikkelsen, and Michael Chang.
The biopharmaceutical industry in China is experiencing growth, driven by increasing healthcare investments and a focus on innovative treatments.
China’s economy continues to grow, with healthcare being a significant focus area, potentially benefiting companies like Visen.
The final Offer Price for VISEN Pharmaceuticals’ IPO was set at HK$68.44 per share. The Hong Kong Public Offering received valid applications for approximately 1.29 million shares, representing about 1.30 times the total number of 990,000 Hong Kong Offer Shares initially available for subscription. Given the slight oversubscription, the reallocation mechanism was not triggered, and the final number of Offer Shares under the Hong Kong Public Offering remained at 990,000 Shares.
The Hong Kong Public Offering was oversubscribed by approximately 1.30 times, indicating moderate investor
The biotechnology sector has been experiencing growth, and Hong Kong has been a favorable market for biotech listings.
VISEN Pharmaceuticals has reported operating losses in recent periods, which is common for biotech firms in the development stage.
Considering these factors, the IPO may experience modest gains on the first day of trading. The share price could trade slightly above the Offer Price of HK$68.44, potentially reaching up to HK$70, depending on market sentiment and investor demand.
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