Alebund Pharmaceuticals (Jiangsu)

Alebund Pharmaceuticals (Jiangsu) (Ticker: 9637 HK) develops therapies for chronic kidney disease and related conditions. Founded in 2018, the company is developing AP301, which completed a registrational Phase III trial in China; a new drug application was expected. AP301 is also being tested in a global Phase III pivotal trial involving the United States and China. The base offering consists entirely of primary shares, with a 15% greenshoe option.

The scheduled listing date on Hong Kong Stock Exchange was June 29, 2026. The offering comprises 56,760,000 shares at a confirmed price of HKD 22.60 per share. At the confirmed offer price, the base offering represents HKD 1.28 billion, approximately $163.45 million in gross proceeds, excluding any unexercised over-allotment. The indicated IPO market capitalization is HKD 5.13 billion, approximately $653.68 million.

BOCI Asia, CLSA, Huatai Financial, Jefferies and Merrill Lynch Asia Pacific are joint managers.