IPO Timeline
Broker Deadline
2025-05-22
Morning deadline
HKEX Deadline
2025-05-22
Noon deadline
Broker Results (T-2)
2025-05-23
Some brokers release in afternoon
Grey Market (T-1)
2025-05-26
Afternoon
HKEX Allotment (T-1)
2025-05-26
Evening
Registrar Allotment (T-1)
2025-05-26
Evening
Listing Day (T)
2025-05-27
First day of trading
Company Overview
| Stock Name | 派格生物医药－Ｂ |
|---|---|
| Stock Code | 02565 |
| Company Full Name | 派格生物医药－Ｂ |
| Industry | 醫療保健 |
| Principal Activities | 公司成立于2008年，是一家專注于自主研究及開發慢性病創新療法的生物技術公司，重點關注內分泌代謝領域。 |
| Listing Date | 2025-05-27 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 18A生物科技 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國浙江省杭州市拱墅區皓章大廈1幢606室 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.pegbio.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 | 18A生物科技 |
|---|---|
| Offer Price | HK$ 15.60 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | 2025-05-19 to 2025-05-22 |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 49.7% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 150,415,200 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 7,800 |
| 2 lots | 1,000 | HK$ 15,600 |
| 3 lots | 1,500 | HK$ 23,400 |
| 4 lots | 2,000 | HK$ 31,200 |
| 5 lots | 2,500 | HK$ 39,000 |
| 6 lots | 3,000 | HK$ 46,800 |
| 7 lots | 3,500 | HK$ 54,600 |
| 8 lots | 4,000 | HK$ 62,400 |
| 9 lots | 4,500 | HK$ 70,200 |
| 10 lots | 5,000 | HK$ 78,000 |
| 12 lots | 6,000 | HK$ 93,600 |
| 14 lots | 7,000 | HK$ 109,200 |
| 16 lots | 8,000 | HK$ 124,800 |
| 18 lots | 9,000 | HK$ 140,400 |
| 20 lots | 10,000 | HK$ 156,000 |
| 30 lots | 15,000 | HK$ 234,000 |
| 40 lots | 20,000 | HK$ 312,000 |
| 50 lots | 25,000 | HK$ 390,000 |
| 60 lots | 30,000 | HK$ 468,000 |
| 70 lots | 35,000 | HK$ 546,000 |
| 80 lots | 40,000 | HK$ 624,000 |
| 90 lots | 45,000 | HK$ 702,000 |
| 100 lots | 50,000 | HK$ 780,000 |
| 120 lots | 60,000 | HK$ 936,000 |
| 140 lots | 70,000 | HK$ 1,092,000 |
| 160 lots | 80,000 | HK$ 1,248,000 |
| 180 lots | 90,000 | HK$ 1,404,000 |
| 200 lots | 100,000 | HK$ 1,560,000 |
| 300 lots | 150,000 | HK$ 2,340,000 |
| 400 lots | 200,000 | HK$ 3,120,000 |
| 500 lots | 250,000 | HK$ 3,900,000 |
| 600 lots | 300,000 | HK$ 4,680,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 700 lots | 350,000 | HK$ 5,460,000 |
| 800 lots | 400,000 | HK$ 6,240,000 |
| 900 lots | 450,000 | HK$ 7,020,000 |
| 1,000 lots | 500,000 | HK$ 7,800,000 |
| 1,100 lots | 550,000 | HK$ 8,580,000 |
| 1,200 lots | 600,000 | HK$ 9,360,000 |
| 1,300 lots | 650,000 | HK$ 10,140,000 |
| 1,400 lots | 700,000 | HK$ 10,920,000 |
| 1,500 lots | 750,000 | HK$ 11,700,000 |
| 1,600 lots | 800,000 | HK$ 12,480,000 |
| 1,700 lots | 850,000 | HK$ 13,260,000 |
| 1,928 lots | 964,000 | HK$ 15,038,400 |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | To be extracted |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 11.56 |
|---|---|
| First Day Open | HK$ 13.0 |
| First Day Change | -25.90% |
| First Day Volume | 11264800.0 |
| First Day Turnover | 150891000.0 |
Use of Proceeds
| Use of Proceeds | 1、約116.5百萬港元（或約50.2%）用于撥付核心產品PB-119的商業化及適應癥擴展； 2、約79.9百萬港元（或約34.5%）用于撥付主要產品PB-718的進一步開發； 3、約12.2百萬港元（或約5.3%）用于撥付其他管線候選產品正在進行及計劃進行的研發； 4、約2.3百萬港元（或約1.0%）將用于業務開發活動及加強海外業務； 5、約20.9百萬港元（或約9.0%）將用作營運資金及其他一般公司用途。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
中国国际金融香港证券有限公司 CE AEN894
Overall Coordinators (5)
中国国际金融香港证券有限公司 CE AEN894
民银证券有限公司 CE APU820
农银国际证券有限公司 CE ACX411
中银国际亚洲有限公司 CE AET863
建银国际金融有限公司 CE AJO225
Joint Bookrunners (14)
中国国际金融香港证券有限公司 CE AEN894
民银证券有限公司 CE APU820
农银国际证券有限公司 CE ACX411
中银国际亚洲有限公司 CE AET863
建银国际金融有限公司 CE AJO225
利弗莫尔证券有限公司 CE BJN764
中泰国际证券有限公司 CE BAA855
浦银国际融资有限公司 CE BFZ375
艾德证券期货有限公司 CE BHT550
国金证券（香港）有限公司 CE AAI195
中国光大证券（香港）有限公司 CE AAW536
GF Securities (Hong Kong) Brokerage Limited CE AOB364
中国银河国际证券（香港）有限公司 CE AXM459
光银国际资本有限公司 CE BGH296
Joint Lead Managers (14)
中国国际金融香港证券有限公司 CE AEN894
民银证券有限公司 CE APU820
农银国际证券有限公司 CE ACX411
中银国际亚洲有限公司 CE AET863
建银国际金融有限公司 CE AJO225
利弗莫尔证券有限公司 CE BJN764
中泰国际证券有限公司 CE BAA855
浦银国际融资有限公司 CE BFZ375
艾德证券期货有限公司 CE BHT550
国金证券（香港）有限公司 CE AAI195
中国光大证券（香港）有限公司 CE AAW536
GF Securities (Hong Kong) Brokerage Limited CE AOB364
中国银河国际证券（香港）有限公司 CE AXM459
光银国际资本有限公司 CE BGH296
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 益泽康瑞医药(香港)有限公司 | 149,518,200 HKD | — | 49.70% | — | 6 months | 2025-11-27 |
Directors & Management
| Chairman | Michael Min XU |
|---|---|
| Company Secretary | 黃一峰,郭恩廷 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | Michael Min XU(15.05%),Mingly China Growth Fund, L.P.(9.03%),上海蘇頡企業管理咨詢合伙企業(有限合伙)(7.56%),元生創投(5.26%) |
|---|
AI
AI Analysis
Market Sentiment
The IPO was met with overwhelming demand, achieving an oversubscription ratio of 743.78x. The hit rate of just 20.95% underscores intense competition for allocations. Clawback C triggered significant reallocation to the public tranche, reflecting strong retail interest. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
Tier distribution data is not provided, precluding analysis of allocation anomalies or broker fee efficiency. Without detailed subscription figures by tier, no pattern can be observed. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Demographic breakdowns are entirely missing from the dataset, with holder counts and regional percentages set to zero. It is unclear whether mainland or local participation drove the demand. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Subscription Tiers
IPO Timeline
