New Stock News | Jiangxi Bio (06915) IPO Subscription period ends with oversubscription of HKD 10.4 billion, 219 times oversubscribed

Biopharmaceutical company Jiangxi Bio (06915) held its initial public offering from June 22 to June 25, 2026, and the latest IPO has ended. According to market reports, Jiangxi Bio has received a margin loan of 10.4 billion Hong Kong dollars, with an IPO size of 47.32 million Hong Kong dollars, oversubscribed by 219 times. Jiangxi Bio plans to globally offer 36.2345 million H shares, with approximately 10% allocated for sale in Hong Kong (subject to reallocation) and approximately 90% for international sale (subject to reallocation and exercise of the over-allotment option). The offer price per share ranges from 9.33 to 13.06 Hong Kong dollars, raising up to 470 million Hong Kong dollars, with 500 shares per board lot and an entrance fee of 6,595.9 Hong Kong dollars. The company expects to be listed for trading on June 30 (next Tuesday), with CICC and CMSC International serving as its joint sponsors. For this IPO, the company has introduced WSH Fuze Holdings as a cornerstone investor, with an investment amount of 50 million Hong Kong dollars. WSH is wholly owned by Gong Hongjia, the chairman of Vcanbio Cell & Gene Engineering Corp., Ltd. According to the prospectus, Jiangxi Bio is the largest provider and exporter of human tetanus antitoxin (human TAT) in China, as well as a comprehensive platform for antiserum throughout the entire industry chain. According to Frost & Sullivan data, the company is the largest provider of human TAT in China and globally, with market shares of 65.8% and 36.6% based on sales in 2024. In 2025, the company's total sales of human TAT reached 29.9 million doses, with 13.5 million doses sold in China and 16.4 million doses exported to overseas markets. The company has established a synergistic product portfolio for human and veterinary medicines. In addition to human TAT, the company's existing products include veterinary tetanus antitoxin, pregnant mare serum gonadotropin (PMSG), and several hormone drugs used to supplement or support PMSG treatment, which will be launched on the market after obtaining re-registration approval. Furthermore, the company operates the largest horse breeding and immune plasma collection facility in China according to GMP standards, ensuring a stable supply of high-quality raw materials for antiserum and serum-derived products. The company has established internal production facilities for human and veterinary medicines to ensure scalability, quality, and cost-effectiveness. Financially, the company achieved revenues of approximately 198 million yuan, 221 million yuan, and 235 million yuan in 2023, 2024, and 2025 respectively; with net profits of 55.481 million yuan, 75.14 million yuan, and 94.794 million yuan in the same periods. Jiangxi Bio plans to use the net proceeds for the following purposes: 33.7% for research and development of the company's candidate products, 31.4% for construction and expansion of new facilities and production lines, 15.7% for upgrading and optimizing the company's technology and processes, 10.3% for strengthening the company's sales and marketing capabilities, and 8.8% for general operating funds and purposes.