02268 藥明合聯
WUXI XDC
WUXI XDC
| Listing Date | 2023/11/17 |
| Listing Price | 20.600 |
Subscription Result
- Subscription Rate49.96x
- Guarantee One Lot Size8 lot
- One Lot Success Rate13.00%
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IPO Detail
COMPANY PROFILE
WuXi XDC is a contract research, development and manufacturing organization (CRDMO) focused on the global antibody-drug conjugate (“ADC”) and broader bioconjugate market, offers interdisciplinary and comprehensive services, covering bioconjugate discovery, research, development and manufacturing. It is the second largest CRDMO for ADCs and other bioconjugates globally in terms of revenue in 2022, according to Frost & Sullivan. Its listing constitutes a spin-off of Company from WuXi Biologics (stock code: 2269)
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The Group generates over 7,000 bioconjugate molecules for customers incorporating over 500 protein carriers and over 600 payload-linkers and manufactures using over 10 conjugation technologies for both ADC and other bioconjugates.
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Its integrated capabilities are also reflected in the one-stop GMP manufacturing of bioconjugates. It strategically offers services from proximately located operation sites in Wuxi, Shanghai and Changzhou in China. As of June 30, 2023, the Group had 110 ongoing integrated projects and helped customers to submit IND applications for 47 ADC candidates globally. It have been assigned with three issued patents relating to the WuXiDAR4 technologies in the United States, Japan and Taiwan.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 178.45M shares |
| No. of International Offer Shares | 124.91M shares |
| No. of HK Offer Shares | 53.53M shares |
| Offer Price | $19.90 - $20.60 |
| Stock Code | 2268 |
| Sponsor(s) | Morgan Stanley Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities (Far East) Limited |
| Underwriter(s) | Morgan Stanley Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Asia Limited, Huatai Financial Holdings (Hong Kong) Limited |
TIME TABLE
| Application Period | Nov 07 (Tue) - noon, Nov 10 (Fri) |
| Price Determination Date | Nov 10 (Fri) |
| Result Announcement Date | On or before Nov 16 (Thu) |
| Result Announcement Date | On or before Nov 16 (Thu) |
| Result Announcement Date | On or before Nov 16 (Thu) |
| Dealings in Shares commence on | Nov 17, 2023. (Fri) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $19.90 - $20.60 |
| Capitalization | 23.45B - 24.28B |
| NAV / share ($) | $4.18 - $4.28 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 20.25, the net proceeds raised would be HKD 3.42B, of which |
| 67% : Expand manufacturing capacity by constructing manufacturing facilities in Singapore and expanding production capacity in China |
| 23% : Pursue strategic alliances, investment and acquisition opportunities to enrich technology platform and service offerings |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).