We covered the firm’s earlier attempt to list back in 2019: The deal will price on Wednesday and debut on 30th June. US and London-listed bio pharma company, Hutchmed (China), launched its bookbuild for its US$590m Hong Kong secondary listing. Nayuki (奈雪) IPO – Not Cheap but Should Still Do Well Nayuki (奈雪) Pre-IPO – Forecast and Thoughts on Valuation Nayuki (奈雪) Pre-IPO – Industry Landscape and Peer Comparison Nayuki (奈雪) Pre-IPO – PHIP Updates – 4Q20 Results Shows Improvement Nayuki (奈雪) Pre-IPO – Fast-Growing, Cash Flow Positive Teahouse Chain Books will close on Wednesday and shares will debut on 30th June. In Hong Kong, Nayuki, launched its US$656m bookbuild this week. Soulgate IPO – MIHOYO Could Change the Game, Worth a Bet Soulgate Pre-IPO – Unsustainable Virtual Connection Soulgate Inc, which operates Soul app, an algorithmic-driven online social playground, launched its US$198m IPO bookbuild. Pricing is expected to come in on Monday, after the US market closes.įull Truck Alliance Pre-IPO – The Positives – Category Leaderįull Truck Alliance Pre-IPO – The Negatives – Still a Mixed Bagįull Truck Alliance Pre-IPO – Valuation, Even the Previous Round Might Have Been a Stretchįull Truck Alliance IPO – Decent Investor Line-Up, at Best a Punt at These Valuations It had obtained indications of interest for up to 40% of the total deal.
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It has been a busy week in the ECM space.įor ongoing/live IPOs, in the U.S, Chinese freight-as-a-service provider, Full Truck Alliance, launched its bookbuild on Wednesday and closed a day earlier on the back of strong demand.
The first global launch is likely to be surufatinib with a US launch targeted for late 2021 or early 2022.
Elunate is performing well in China, with NRDL inclusion boosting volumes. Notably, in-house discovered drugs, Elunate (fruquintinib) and Sulanda (surufatinib), together with a likely approval for savolitinib, are transforming China prospects. Success of its oncology/immunology platform, which has several near-term clinical and regulatory catalysts from the novel highly selective small molecule (tyrosine kinase inhibitor) pipeline. HutchMed is a China-based, globally focused, biopharma company, active in discovery, development, manufacturing, and commercialisation. The cornerstone investors are Carlyle Group Inc (CG US), CPP Investments, General Atlantic, HBM Healthcare Investments AG (HBMN SW) and CICC Capital. The HKEx secondary listing will be supported by five cornerstone investors which will subscribe for HK$2,535 million ($325 million) of the offer shares (54.17% of the offer shares at the maximum offer price). HutchMed has primary listings on Nasdaq and on UK AIM. The net proceeds will be used to fund the late-stage clinical programs ( savolitinib, surufatinib, fruquintinib, HMPL-689 and HMPL-523), to support further proof-of-concept studies and strengthen commercialisation capabilities. Bookbuilding is scheduled to run until the pricing on 23 June. Hutchmed China Ltd (13 HK) has launched a $603 million secondary listing on HKEx by offering 104.0 million ordinary shares at a maximum offer price of HK$45.00 per share.
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