// Company Overview //
| Stock Name | 维立志博－Ｂ |
|---|---|
| Stock Code | 09887 |
| Company Full Name | 维立志博－Ｂ |
| Industry | 醫療保健 |
| Principal Activities | 公司是一家臨床階段生物科技公司，專注于發現、開發和商業化治療腫瘤、自身免疫性疾病以及其他嚴重疾病的新療法。 |
| Listing Date | 2025-07-25 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 18A生物科技 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國江蘇省南京市嘉陵江東街18號3幢8層 |
| Business Address (Hong Kong) | No data |
| Place of Incorporation | No data |
| Listing Method | No data |
| Listing Board | Main Board |
| Website | https://www.leadsbiolabs.com/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No |
// Offering Information //
| Offering Mechanism | 机制A(旧) |
|---|---|
| Clawback Tiers | 因超购3,494.8倍，回拨至43.5% |
| Prospectus Date | 2025-07-17 |
| Offer Price | HK$ 35.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 3,500 |
| Par Value | No data |
| Global Offering Shares | 36,862,500 |
| HK Public Offering Shares | 16,027,200 (43.5%) |
| International Placing Shares | — (0.0%) |
| Offer Ratio | No data |
| Total Shares Post-IPO | No data |
| Total Global Offering Size | HK$ 1,290,187,500 |
| Public Offering Size | HK$ 560,952,000 (43.5%) |
| Oversubscription Multiple | 3,494.8x |
| Valid Applications | 323,706 |
| Accepted Applications | 73,406 |
| Reallocation | No |
| Total Funds Raised | HK$ 560,952,000 |
| Greenshoe (Over-allotment Option) | No |
| Final Public Offering Share | 43.5% |
// Valuation & Financials //
| Market Cap (at Offer Price) | HK$ 0 |
|---|---|
| Pre-IPO Valuation (Last Round) | No data |
| P/E Ratio | -20.54 |
| Profit/Loss Status | No data |
| Period-End Cash Balance | No data |
| Listing Expenses | ~HK$ 110,800,000 |
| Listing Expenses / Funds Raised | No data |
| Total Pre-IPO Investment | No data |
// First Day Performance
| First Day Close | Loading... |
|---|---|
| First Day Open | HK$ 72.4 |
| First Day Change | 91.71% |
| First Day Volume | 33118300.0 |
| First Day Turnover | 2349490000.0 |
// Price Chart //
Loading...
// Use of Proceeds
| Use of Proceeds | 1、約65.0%（或629.0百萬港元）將用于臨床階段候選藥物正在進行及計劃進行的臨床開發及監管事務； 2、約15.0%（或145.2百萬港元）將用于提升臨床前資產、擴展現有管線及優化技術平臺； 3、約10.0%（或96.8百萬港元）將主要用于提升產能，其次用于候選藥物獲批銷售后的商業化； 4、約10.0%（或96.8百萬港元）將用于營運資金及一般企業用途。 |
|---|
// Underwriting Syndicate //
联席保荐人 (2)
摩根士丹利亚洲有限公司
中信证券（香港）有限公司
保荐人兼整体协调人 (2)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
整体协调人 (3)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
招银国际融资有限公司
联席全球协调人 (3)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
招银国际融资有限公司
联席账簿管理人 (5)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
招银国际融资有限公司
建银国际金融有限公司
富途证券国际（香港）有限公司
联席牵头经办人 (5)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
招银国际融资有限公司
建银国际金融有限公司
富途证券国际（香港）有限公司
资本市场中介人 (5)
摩根士丹利亚洲有限公司
中信里昂证券有限公司
招银国际融资有限公司
建银国际金融有限公司
富途证券国际（香港）有限公司
// Service Providers //
| Role | Institution |
|---|---|
| 本公司法律顾问 |
科律香港律师事务所 君合律师事务所 |
| 保荐人/包销商法律顾问 |
史密夫斐尔律师事务所 竞天公诚律师事务所 |
| 核数师兼申报会计师 | 安永会计师事务所 |
| 行业顾问 | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| 收款银行 | 招商永隆银行有限公司 |
// Cornerstone Investors //
Allotment Results Announcement
| # | Investor Name | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|
| 1 | 蘇州建信漢康創業投資合 | 6,853,584 | 4.64% | 3.54% | 2026-07-24 | 2026-07-24 |
| 2 | 南京恩然瑞光健康產業投 | 5,901,290 | 2.00% | 3.05% | 2026-07-24 | 2026-07-24 |
| 3 | 新希望醫療健康南京投資 | 5,662,889 | 3.83% | 2.93% | 2026-07-24 | 2026-07-24 |
| 4 | 寧波懷格共信創業投資合 | 4,611,383 | 3.12% | 2.38% | 2026-07-24 | 2026-07-24 |
| 5 | 昆明高新諾泰大健康 | 3,469,379 | 2.35% | 1.79% | 2026-07-24 | 2026-07-24 |
| 6 | 北京重山遠為投資中心（有 | 3,261,914 | 2.21% | 1.69% | 2026-07-24 | 2026-07-24 |
| 7 | 北京漢康建信創業投資有 | 3,036,869 | 2.06% | 1.57% | 2026-07-24 | 2026-07-24 |
| 8 | 南京捷源成長創業投資合 | 2,974,369 | 2.01% | 1.54% | 2026-07-24 | 2026-07-24 |
| 9 | 漢康中小企業發展基金（濰 | 2,682,372 | 0.68% | 1.39% | 2026-07-24 | 2026-07-24 |
| 10 | TruMedHealth | 2,119,400 | 1.43% | 1.10% | 2026-01-24 | 2026-01-24 |
| 11 | 上海樂永投資合夥企業（有 | 1,998,356 | 1.03% | — | 2026-07-24 | 2026-07-24 |
| 12 | 上海高毅資產管理合 | 1,794,200 | 4.87% | 0.93% | — | — |
| 13 | Huang River Investment | 1,794,200 | 4.87% | 0.93% | — | — |
| 14 | 上海高毅及華泰資本 | 1,794,200 | 1.21% | 0.93% | 2026-01-24 | 2026-01-24 |
| 15 | HuangRiverInvestment | 1,794,200 | 1.21% | 0.93% | 2026-01-24 | 2026-01-24 |
| 16 | 景寧懷格瑞信創業投資合 | 1,665,296 | 0.56% | 0.86% | 2026-07-24 | 2026-07-24 |
| 17 | 上海濟世樂美私募投資基 | 1,579,970 | 0.61% | 0.82% | 2026-07-24 | 2026-07-24 |
| 18 | OrbiMedGenesisMaster | 1,401,700 | 0.95% | 0.72% | 2026-01-24 | 2026-01-24 |
| 19 | 易方達基金管理有限 | 1,379,300 | 3.74% | 0.71% | 2026-01-24 | 2026-01-24 |
| 20 | 南京恩捷創業投資合夥企 | 1,332,237 | 0.45% | 0.69% | 2026-07-24 | 2026-07-24 |
| 21 | Loyal Valley Capital | 1,121,300 | 3.04% | 0.58% | — | — |
| 22 | Loyal Valley Fund III | 1,121,300 | 3.04% | 0.58% | — | — |
| 23 | LoyalValleyFundIII | 1,121,300 | 0.76% | 0.58% | 2026-01-24 | 2026-01-24 |
| 24 | 中信證券國際資本 | 1,116,600 | 3.03% | 0.58% | — | — |
| 25 | 南京恩然呈豐創業投資合 | 937,500 | 0.48% | — | 2026-07-24 | 2026-07-24 |
| 26 | GoldenValleyGlobal | 897,100 | 0.61% | 0.46% | 2026-01-24 | 2026-01-24 |
| 27 | GoldenValleyValue | 897,100 | 0.61% | 0.46% | 2026-01-24 | 2026-01-24 |
| 28 | SagePartnersMaster | 897,100 | 0.61% | 0.46% | 2026-01-24 | 2026-01-24 |
| 29 | TheBiotechGrowth | 841,000 | 0.57% | 0.43% | 2026-01-24 | 2026-01-24 |
| 30 | 南京佳康瑞臻創業投資合 | 684,016 | 0.35% | — | 2026-07-24 | 2026-07-24 |
| 31 | 成都懷格國生創業投資合 | 684,016 | 0.35% | — | 2026-07-24 | 2026-07-24 |
| 32 | VisionFund1 | 684,000 | 0.46% | 0.35% | 2026-01-24 | 2026-01-24 |
| 33 | UBS Asset Management | 494,000 | 1.34% | 0.26% | — | — |
| 34 | Perseverance Asset | 448,500 | 1.22% | 0.23% | — | — |
| 35 | Perseverance | 448,500 | 0.30% | 0.23% | 2026-01-24 | 2026-01-24 |
| 36 | ForesightFundsGSC | 437,300 | 0.30% | 0.23% | 2026-01-24 | 2026-01-24 |
| 37 | Hankang Biotech Fund | 224,200 | 0.61% | 0.12% | — | — |
| 38 | Splendid Biotech Fund | 224,200 | 0.61% | 0.12% | — | — |
| 39 | HankangBiotechFund | 224,200 | 0.15% | 0.12% | 2026-01-24 | 2026-01-24 |
| 40 | SplendidBiotechFund | 224,200 | 0.15% | 0.12% | 2026-01-24 | 2026-01-24 |
| 41 | 易方達資產管理（香港） | 190,600 | 0.52% | 0.10% | — | — |
| 42 | 易方達資產管理（香 | 190,600 | 0.13% | 0.10% | 2026-01-24 | 2026-01-24 |
| 43 | TruMedHealthcare | 123,300 | 0.08% | 0.06% | 2026-01-24 | 2026-01-24 |
| 44 | 華夏基金（香港）有限 | 60,000 | 0.16% | 0.03% | — | — |
| 45 | 博時基金（國際）有限 | 40,000 | 0.11% | 0.02% | — | — |
// Directors & Management //
| Chairman | 康小強 |
|---|---|
| Company Secretary | 左鴻剛,簡雪艮 |
No director data available.
// Major Shareholders //
| Major Shareholders & Holdings | 正心谷資本(7.20%),禮至合伙(6.81%),漢康資本(6.67%),恩然創投(6.27%) |
|---|
// Allotment Benchmarks //
Pool A (Small Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 100 | 53,525 | 145 | 0.00 |
| 200 | 19,712 | 107 | 0.01 |
| 300 | 11,698 | 95 | 0.01 |
| 400 | 6,756 | 73 | 0.01 |
| 500 | 18,137 | 246 | 0.01 |
| 600 | 5,993 | 97 | 0.02 |
| 700 | 4,455 | 84 | 0.02 |
| 800 | 5,314 | 115 | 0.02 |
| 900 | 3,486 | 85 | 0.02 |
| 1,000 | 31,166 | 844 | 0.03 |
| 1,500 | 14,390 | 584 | 0.04 |
| 2,000 | 12,793 | 693 | 0.05 |
| 2,500 | 10,507 | 711 | 0.07 |
| 3,000 | 7,052 | 573 | 0.08 |
| 3,500 | 5,694 | 540 | 0.09 |
| 4,000 | 3,445 | 373 | 0.11 |
| 4,500 | 2,473 | 301 | 0.12 |
| 5,000 | 6,618 | 896 | 0.14 |
| 6,000 | 5,206 | 846 | 0.16 |
| 7,000 | 3,752 | 711 | 0.19 |
| 8,000 | 4,042 | 875 | 0.22 |
| 9,000 | 2,911 | 709 | 0.24 |
| 10,000 | 19,734 | 5,343 | 0.27 |
| 20,000 | 11,299 | 6,118 | 0.54 |
| 30,000 | 6,956 | 5,650 | 0.81 |
| 40,000 | 4,144 | 344 | 1.08 |
| 50,000 | 3,592 | 1,270 | 1.35 |
| 60,000 | 2,632 | 1,643 | 1.62 |
| 70,000 | 2,055 | 1,840 | 1.89 |
| 80,000 | 1,933 | 321 | 2.16 |
| 90,000 | 1,505 | 657 | 2.43 |
| 100,000 | 10,323 | 7,302 | 2.70 |
Pool B (Large Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 200,000 | 10,608 | 10,019 | 2.00 |
| 300,000 | 3,411 | 3,127 | 3.00 |
| 400,000 | 1,577 | 1,402 | 4.00 |
| 500,000 | 1,103 | 950 | 5.00 |
| 600,000 | 649 | 541 | 6.00 |
| 700,000 | 478 | 385 | 7.00 |
| 800,000 | 360 | 280 | 8.00 |
| 900,000 | 275 | 206 | 9.00 |
| 1,000,000 | 741 | 535 | 10.00 |
| 1,500,000 | 175 | 102 | 15.00 |
| 1,602,700 | 1,031 | 599 | 16.03 |
Allotment Benchmarks
