InSilico Medicine Cayman TopCo

Date of Prospectus: December 18, 2025

InSilico Medicine Cayman TopCo Launches Landmark Hong Kong IPO: Key Insights for Investors

InSilico Medicine Cayman TopCo, a Cayman Islands incorporated biotechnology innovator, is launching its highly anticipated initial public offering (IPO) on the Hong Kong Stock Exchange. This analysis delivers a comprehensive breakdown of the IPO structure, pricing, market positioning, risk factors, growth strategy, and all material details critical for institutional and retail investors considering participation in this public offering.

IPO Snapshot: Pricing, Offer Size, and Key Details

InSilico Medicine Cayman TopCo (Stock Code: 3696) is offering shares to the public through a global offering divided into Hong Kong and international tranches. The company’s IPO is a significant event in the biotechnology sector, aiming to attract broad investor interest with its innovative business model and strong syndicate.

• IPO Symbol: 3696
• Offer Price: HK\$24.05 per Offer Share
• Total Offer Size: 94,690,500 Offer Shares (subject to Over-allotment Option)
• Hong Kong Public Offer: 9,469,500 Offer Shares (subject to reallocation)
• International Offer: 85,221,000 Offer Shares (subject to reallocation and Over-allotment Option)
• Nominal Value per Share: US\$0.0000005
• Board Lot Size: 500 Shares
• Stock Code: 3696
• Listing Date: December 30, 2025

All Offer Shares will be registered and listed solely on the Hong Kong Stock Exchange. No dual listings are contemplated at this time.

Use of Proceeds: Growth-Focused Capital Deployment

Proceeds from the IPO are allocated for business expansion, research and development, and further scaling of operations. The deployment signals a growth-driven strategy, with capital earmarked for innovation, talent acquisition, and pipeline advancement. Exact allocation figures are not specified, but the use of capital is positioned to accelerate the company’s competitive trajectory and product commercialization.

IPO Timetable and Application Window

• Hong Kong Public Offering Opens: 9:00 a.m., December 18, 2025
• Last Day for Electronic Applications: 11:30 a.m., December 23, 2025
• Announcement of Allocation Results: On or before December 29, 2025
• Listing and Trading Commence: 9:00 a.m., December 30, 2025

Minimum application size: 500 shares. Larger applications must be in board lot multiples as outlined in the offer structure.

Offer Structure: Public and Institutional Allocation

The global offering consists of two primary tranches:

• Hong Kong Public Offering: Initially 9,469,500 shares (approx. 10% of total), subject to reallocation (may rise to 15% of the total offer shares if oversubscribed).
• International Offering: Initially 85,221,000 shares (approx. 90% of total), subject to reallocation and Over-allotment Option.

All shares offered are new shares. No shares are being offered by existing shareholders.

Dividend Policy

No specific dividend commitment, payout ratio, or timetable is disclosed. Investors should not anticipate near-term dividend distributions and should expect capital to be reinvested in growth.

Investor Participation and Book Quality

Details regarding anchor or cornerstone investors, institutional tranche allocations, and subscription levels by category are not disclosed. There are no pre-listing disposals or sales by major shareholders stated.

Bookrunners and sponsors of strong repute are leading the offering, which typically supports robust price discovery and aftermarket performance.

Deal Parties, Underwriting, and Stabilization Support

The syndicate includes major global and regional institutions, enhancing execution credibility and aftermarket support.

• Joint Sponsors: Morgan Stanley, CICC, GF Securities
• Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers: Morgan Stanley, CICC, GF Securities, BNP Paribas
• Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager: SINOLINK(HK)
• Joint Bookrunner and Joint Lead Manager: BOCI

A stabilization/over-allotment (greenshoe) option of up to 14,203,500 shares (15% of the offer) may be exercised by the international underwriters within 30 days of the listing to support aftermarket trading and manage volatility.

Company Overview: Business Model and Industry Position

InSilico Medicine Cayman TopCo is a biotechnology company engaged in the research, development, and commercialization of innovative healthcare solutions. The company’s core revenue streams, principal products/services, customer segmentation, and geographic focus are not detailed in this announcement.

The company operates at the intersection of biotechnology and advanced research, with a focus on pipeline development and product innovation. Market size and sectoral metrics are not disclosed.

Financial Health

Key financial metrics including revenue, profit, cash flow, debt levels, and capex are not disclosed in the announcement.

Management and Board Leadership

The leadership team brings together recognized industry professionals with deep scientific and corporate governance experience.

• Chairman, Executive Director, CEO: Mr. Aleksandrs Zavoronkovs, Ph.D.
• Executive Director: Mr. Feng Ren, Ph.D.
• Non-Executive Directors: Mr. Chuen Yan Leung, Ph.D.; Mr. Kan Chen, Ph.D.; Mr. Long Shi
• Independent Non-Executive Directors: Ms. Denitsa Milanova, Ph.D.; Mr. Jingsong Wang, Ph.D.; Mr. Roman Kyrychynskyi

Sector Trends, Timing, and Market Environment

The offering comes at a time when biotechnology and healthcare innovation are in focus globally. The prospectus highlights a fully electronic application process, signaling strong adoption of digital capital markets infrastructure in Hong Kong.

No macroeconomic indicators or recent company/sector developments are specified. The offer period and listing date are precisely defined, ensuring clarity for participants.

Risk Factors

The IPO documentation highlights standard market and allocation risks, including:

• Price Volatility: Stabilization actions are limited to 30 days post-listing. After this period, demand and pricing may decline.
• Jurisdictional Restrictions: The offer is not available to U.S. persons or in certain jurisdictions.
• Termination Rights: Underwriting agreements may be terminated by sponsors under specified adverse events up to 8:00 a.m. on listing day.

No quantified exposures to legal, regulatory, or operational risks are provided in this summary.

Growth Strategy

The company’s use of proceeds points to a growth-focused agenda, emphasizing R&D, pipeline expansion, and operational scaling. No specific timelines, M&A plans, or geographic/capacity expansion figures are disclosed.

Ownership and Lock-up Structure

Pre- and post-IPO shareholding structure, major shareholder stakes, and lock-in/ESOP details are not specified.

Listing Outlook

Based on the offer structure, syndicate composition, and the presence of a stabilization mechanism, the IPO is well-supported for a robust market debut. The participation of recognized global and regional banks as sponsors and coordinators, combined with a clear growth agenda, aligns with strong investor interest in biotechnology IPOs. First-day trading is expected to be orderly and potentially at a premium to the offer price, contingent on post-listing demand and market conditions.

How to Access the Full Prospectus

The official prospectus and all offering documents can be obtained at:

• www.hkexnews.hk
• insilico.com

How to Apply for InSilico Medicine Shares

Fully electronic application channels are available for the Hong Kong Public Offering:

Applications must be in multiples of 500 shares. The amount payable per 500 shares is HK\$12,146.27, inclusive of brokerage, SFC levy, trading fee, and AFRC transaction levy.

Summary for Investors

InSilico Medicine Cayman TopCo’s IPO offers investors a unique gateway into the rapidly evolving biotechnology sector, with a growth-focused use of proceeds, experienced leadership, and robust syndicate support. While financial details and dividend policies are not disclosed, the offer’s structure and timing align with current market appetite for innovation-driven issuers. Participation is facilitated through a streamlined, fully electronic process, making it accessible for both institutional and retail segments.