B&K Corp (Ticker: 2396 HK) is a China-based biopharmaceutical company specializing in the development of protein drugs for wound healing, with a specific focus on platelet-derived growth factor (PDGF) therapies. Founded in 2012, the company’s pipeline is anchored by two core products: Pro-101-1, which has completed Phase IIb analysis for deep second-degree thermal burns, and Pro-101-2, currently in Phase II trials for diabetic foot ulcers.

B&K Corp is scheduled to list on the HKEX Main Board on 22 December 2025. The company plans to offer 17,648,800 shares marketed at a price range of HK$38.20 to HK$51.00 per share. This offering targets raising approximately HK$900.1 million (US$115.6 million), implying a market valuation of roughly US$674 million.

Reportedly, the majority of the IPO proceeds (80.6%) will be allocated to research and development and capacity expansion. Remaining funds are designated for working capital and strategic acquisitions (10%), brand promotion and business development (6.3%), and other general purposes. The IPO is sponsored by Huatai Financial Holdings (Hong Kong) and CITIC Securities (Hong Kong).