It's a thumbs-up as shares in Taizhou-based biopharma group Qyuns Therapeutics debut on the Hong Kong Stock Exchange. [Photo/Taizhou Medical High-tech Zone via WeChat weigg6666]
Biopharma group Qyuns Therapeutics Co Ltd, located in the Taizhou Medical High-tech Zone – based in Taizhou city, in East China's Jiangsu province – listed on the Hong Kong Stock Exchange on March 20.
Carrying the share code of 02509.HK, it became the eighth Taizhou company in the zone to be listed on the exchange.
The company offered up over 12 million H-shares, with 200 shares sold per transaction at an issue price of HK $19.80 ($2.53) per share, raising HK $239 million.
The company's initial public offering or IPO listing in Hong Kong was exceptionally well received, with the shares oversubscribed by over 160 times – the highest subscription ratio for an IPO in Hong Kong since 2022.
Qiu Jiwan, chairman of the company, said the listing was an important milestone for Qyuns Therapeutics.
Qiu added that the market attention and support would inject new impetus into its development.
Founded in 2015, Qyuns Therapeutics is a biopharmaceutical high-tech enterprise specializing in the biological therapy of autoimmune and allergic diseases, with independently developed drug pipelines and commercial-scale production capacity.
The company has formed a product pipeline covering multiple innovative varieties in the treatment fields of skin, rheumatism, respiration and digestion.
It boasts competitive advantages in pipeline reserves, research and development, product strength and product commercialization.