MIRXES-B (02629.HK), a microRNA technology company headquartered in Singapore, announced details for its public offering in Hong Kong. It plans to globally issue 46.62 million shares, with 10% or 4.662 million shares offered publicly in Hong Kong, and the remaining 90% or 41.958 million shares for international placement. The offering price is HK$23.3 per share, aiming to raise up to HK$1.086 billion. Each trading unit consists of 100 shares with an entry fee of approximately HK$2,353.49.
The offering begins today (15th) and will close next Tuesday (20th) at noon, with listings on the Main Board of the Exchange expected next Friday (23rd). The joint sponsors are China International Capital Corporation and China Everbright International.
This offering introduces Peking Xunrui Enterprise Management Partnership and FOSUN INTL (00656.HK) subsidiary Evergreen Gate as cornerstone investors, who are expected to subscribe to shares worth US$50 million and US$7.92 million respectively, amounting to a total expected subscription of 19.287 million shares at the offering price of HK$23.3, which accounts for approximately 41.37% of the global offering.
Based on the offering price of HK$23.3, the proceeds from the listing are expected to be around HK$0.88 billion, anticipated to be used for the research and development, regulatory filing, production, and commercialization of the core product GASTROClearTM; funding for ongoing and planned R&D; strengthening and integrating end-to-end capabilities; and general working capital and other corporate purposes.
MIRXES stated that it plans to apply for a dual listing on the Main Board of the Singapore Exchange at an appropriate time after the Hong Kong listing, but currently has no specific plans related to the approval for this dual listing.
