Gelonhui, April 29 丨 Zhaoke Ophthalmology, which is on the golden track, had cornerstone shareholders such as Gao Wei, Zhengxingu, and Aer Ophthalmology “stand up” for it, but the stock's aura died out on the first day of listing.
Zhaoke Ophthalmology (6622.HK) opened at a low of about 7.6% today, then declined rapidly. The current decline widened to 14.4% to HK$14.38, with a total market capitalization of HK$7.7 billion. Excluding handling fees, there was a loss of HK$1,210 per lot.
The company was spun off and listed by Lee's Pharmaceutical Company and sold approximately 123.6 million shares globally, including 494.27 million shares sold in Hong Kong, 74.27,000 shares sold internationally, 500 shares in each lot, with a first-hand win rate of 25%. The Hong Kong public sale received 56 times more subscriptions, with a net increase of HK$1,491.6 million.
According to the prospectus, 32% of all net proceeds from the IPO will be used for clinical development and commercialization of Mega Ophthalmology's core products (cyclosporine A and ZKY001), 46% will be used for the continued development and commercialization of other drug candidates under development, 7% will be used for production line expansion, and 15% will be used for business operations and other general enterprise purposes.