On June 25, 2021, Ambio Pharmaceuticals (hereinafter referred to as “Ambo Pharmaceuticals”) from the US submitted a prospectus to the Hong Kong Stock Exchange to be listed on the Hong Kong Main Board.
The founder holds more than 40% of the shares
According to the prospectus, in the shareholder structure before listing, Dr. Bai Juncai was the executive director, founder, chairman of the board of directors and CEO, holding 40.35% of the shares, and Ms. Keqing Zheng held 5.17% of the shares; the shareholders mentioned above were co-actors and were regarded as controlling shareholders. The employee platform holds 6.36% of the shares; other natural persons and institutions hold a total of 48.11% of the shares.
Source: Prospectus
The global peptide CDMO market is showing a trend of complex large-scale production
In its prospectus, Angbo Pharmaceutical stated that in recent years, the global pharmaceutical market has developed steadily. Its market size has increased from US$1.153 trillion in 2016 to US$1.2988 trillion in 2020, with a compound annual growth rate of 3.0%, and is expected to reach US$1.7114 trillion in 2025, with a compound annual growth rate of 5.7%.
Source: Prospectus
As a global leader in peptide CDMOs, Ombo Pharmaceuticals is growing the fastest among the major CDMOs in the industry. According to Frost & Sullivan's data, in terms of revenue in 2020, the company is the fourth largest peptide CDMO service provider in the world, growing at a CAGR of 26.5% during the track record period.
Source: Prospectus
Losses were mainly from preferred stocks, with a net loss of 90 million US dollars
According to the prospectus, in the past three fiscal years of 2018, 2019, and 2020, Angbo Pharmaceutical's operating income was 46.130 million, 84.04 million, and 73.818 million US dollars, respectively. The corresponding net profit was 42,745 million, -82,714 million, and -905.27 million US dollars, respectively. Ambo Pharmaceuticals stated that the loss was mainly due to loss of fair value of derivatives related to Ombo Pharma's convertible shares and redeemable preferred shares.
Source: Prospectus
Ambo Pharmaceuticals stated that the loss was mainly due to loss of fair value of derivatives related to Ombo Pharma's convertible shares and redeemable preferred shares.