New stock news | England Pharmaceuticals-B (07630) end of public offering with a total subscription amount of nearly HK$12.67 billion, oversubscribed by more than 1387 times.

English Pharmaceutical Group-B (07630) conducted its IPO from May 5th to May 8th. As of noon on May 8th, the IPO of English Pharmaceutical Group has ended, with a total of 1266.95 billion Hong Kong dollars subscription, based on a public offering amount of 0.913 billion Hong Kong dollars, oversubscribed 1387.64 times. According to the IPO plan, the company plans to globally issue 41.977 million H shares, with approximately 10% being publicly offered in Hong Kong. The offering price ranges from 19.75 to 21.75 Hong Kong dollars per share, with 200 H shares per lot. It is expected that the H shares will start trading on the Hong Kong Stock Exchange on May 13th, with Goldman Sachs and CICC as joint sponsors. The prospectus shows that English Pharmaceutical Group was founded in 2009 and is a commercial-stage biotech company dedicated to advancing precision cancer therapy globally based on synthetic lethality mechanisms, creating innovative therapies to meet the unmet medical needs of cancer patients. The company's pipeline includes a core product, Senapali, which is already commercialized in China, as well as key products IMP1734 and IMP9064, both of which are being evaluated in global Phase I/II trials for their efficacy in monotherapy and combination therapy for advanced solid tumors. In terms of finances, the company achieved revenues of approximately 33.547 million and 38.251 million RMB in the fiscal years 2024 and 2025, respectively, with net losses of approximately 255 million and 296 million RMB in the same periods. Assuming an offering price of 20.75 Hong Kong dollars per H share (the median of the indicative price range of 19.75 to 21.75 Hong Kong dollars) and assuming that the additional share allotment rights are not exercised, the group estimates that it will receive net proceeds of approximately 781 million Hong Kong dollars from the global offering after deducting estimated underwriting commission, expenses, and fees payable by the group. As for the use of the raised funds, the group intends to allocate the net proceeds from the global offering as follows: (1) approximately 51% will be used for funding the clinical development, regulatory approval, and commercialization of the group's core product Senapali; (2) approximately 31% will be used for funding the clinical development of the group's key products IMP1734 and IMP9064; (3) approximately 8% will be used for funding the research and development activities of other pipeline assets of the group, including IMP1707, IMP7068, IMP22, IMP25, IMP08, IMP13, and IMP10; (4) approximately 8% will be used for the development of the group's research platform and expanding the group's drug pipeline; (5) approximately 2% will be used for working capital and other general corporate purposes.