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港股IPO|兆科眼科登陆港交所低开破发,收盘报跌14.76%

Hong Kong stock IPO | Mega Ophthalmology landed on the Hong Kong Stock Exchange and closed down 14.76%.

資本邦 ·  Apr 29, 2021 17:34

On April 29, the capital state learned that Hong Kong stock companiesMega Ophthalmology-B (06622.HK)Officially landed on the main board of the Hong Kong Stock Exchange today.

In early trading, the company broke at a low opening of HK $15.52, down about 7.62% from its offering price, and continued to decline in intraday trading. By the close, it was at HK $14.32, down 14.76%, with a turnover of 41.42 million, with a total market capitalization of HK $7.663 billion.

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According to the previous offering announcement, the listing price of Zhaoke Ophthalmology was set at HK $16.80 per share, and the net proceeds from the global offering are estimated to be about HK $1.9416 billion. In addition, in respect of cornerstone investment, cornerstone investors have subscribed for 25.461 million offer shares at the issue price of HK $16.80. this is equivalent to about 4.76 per cent of the total number of shares issued immediately following the completion of the global offering and about 20.60 per cent of the number of shares offered under the global offering (assuming that the over-allotment option has not been exercised).

However, even with the support of cornerstone investors, the overall early trading performance of Zhaoke Ophthalmology on the first day of trading is not optimistic.

According to the prospectus, Zhaoke Ophthalmology is an ophthalmic pharmaceutical company dedicated to the discovery, development and commercialization of treatments. A comprehensive ophthalmic drug pipeline containing 25 drug candidates has been established, covering most major eye diseases and symptoms affecting the anterior and posterior segments, including 13 innovative drugs and 12 generics. According to Zuoshi's information, the company has one of the most comprehensive ophthalmic drug pipelines in China.

On the financial front, at present, Mega Ophthalmology does not have any products approved for commercial sale and does not generate any revenue from product sales. During the track record period, the company has not yet made a profit and incurred an operating loss. For the years ended 31 December 2019 and 2020, the company recorded net losses of 122 million yuan (RMB, the same below) and 727 million yuan respectively.

It is understood that the company's R & D expenditure mainly includes contract costs resulting from agreements with contract research institutions, staff costs, as well as raw materials and consumables costs arising from the research and development of drug candidates. For the years ended December 31, 2019 and 2020, the company's R & D expenditure was 93.4 million yuan and 81.8 million yuan respectively.

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Risk hintAll the information presented by Capital State is for reference only and does not constitute investment advice, and all investment operation information can not be used as a basis for investment. There are risks in investment, so you need to be careful when entering the market. Key words: Mega ophthalmology Hong Kong stock IPO first day 06622.HK

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