New stock news | Wah Kin Future-B (06132) ends its public offering Oversubscription amount recorded at 129.8 billion Hong Kong dollars, oversubscribed by 1,166 times.

Biotechnology company Hua Jian Future-B (06132) conducted its IPO from June 12 to June 17, 2026, and the latest IPO has now ended. According to market reports, Hua Jian Future has obtained margin loans from securities firms amounting to approximately 129.8 billion Hong Kong dollars, with a public offering fund of 110 million Hong Kong dollars, oversubscribed by 1166 times. Hua Jian Future plans to globally issue 13.6 million H shares, with 10% allocated for sale in Hong Kong, 90% for international sale, and an additional 15% for over-allotment option. The offering price is 81.80 Hong Kong dollars per share, with each lot consisting of 100 shares and an entry fee of 8262.5 Hong Kong dollars per lot, raising a total of 1.1 billion Hong Kong dollars. The company expects to be listed for trading on June 23 (Tuesday), with CITIC SEC as its exclusive sponsor. In this offering, Hua Jian Future has introduced cornerstone investors including Ruiyuan Fund, Kebao, LBC HK, Sage Partners, Panjing Fund, and Taikang Life, with a total investment of 65 million US dollars. Based on the offering price of 81.80 Hong Kong dollars per share, the cornerstone investors will subscribe to a total of 6.2278 million shares, accounting for approximately 45.7% of the total offering shares to be issued globally (assuming the over-allotment option is not exercised) and approximately 39.8% (assuming full exercise of the over-allotment option). The prospectus shows that Hua Jian Future is a clinical-stage biotechnology company founded in 2017 by a team of industry experts dedicated to developing therapies for autoimmune, metabolic, and oncological diseases. The company has developed a strategically designed differentiated product pipeline, including three core products, HJ787, HJ178, and HJ891, all of which are self-developed, small-molecule, Class 1 innovative drugs approved by the National Medical Products Administration. Hua Jian Future has established a development platform for small-molecule drugs, covering drug design, efficient synthesis, screening and evaluation, pharmacology research, comprehensive CMC research, clinical strategy and operation, and translational medicine. Using this integrated approach, the company has advanced multiple candidate drugs with significant differences in various therapeutic areas. Financially, the company currently does not have approved products for commercial sales and has incurred losses in previous periods. In 2024 and 2025, the company achieved revenues of 1.8 million and 12.982 million yuan, respectively; during the same periods, it recorded net losses and total expenses of approximately 202 million and 135 million yuan, respectively. Hua Jian Future plans to use approximately 80.6% of the net proceeds for funding the company's ongoing and planned clinical research and development activities for pipeline products; approximately 9.4% will be used to enhance the company's research and development platform to strengthen its innovative pipeline in immunology, metabolism, and oncology fields; approximately 5.0% will be used to gradually establish the company's commercialization team; and approximately 5.0% will be used for general business operations and working capital.