Shanghai Fosun Pharmaceutical and Fosun International have jointly submitted an application for the approval of the proposed spin-off and separate listing of biosimilars firm Shanghai Henlius Biotech on the main board of the Hong Kong Stock Exchange, according to a company statement.
This is the second time Henlius Biotech is filing for an IPO as it had previously pursued a listing on the Third Board in 2016.
The latest company statement said the size of the proposed offering will be no more than 14 per cent of its total share capital.
Founded in 2010, Henlius Biotech was set up to develop and supply monoclonal antibody drugs. According to its prospectus, the company’s pipeline includes over 25 biologics as well as immuno-oncology combination therapies.
Fosun Pharma currently owns a 61 per cent stake in Henlius Biotech, which will remain Fosun’s subsidiary after the proposed spin-off and listing.
Underwriters for the offering include CICC, BofA Merrill Lynch, CMB International, Fosun Hani and Citi.
Last December, Henlius Biotech had raised $140 million from investors including Hong Kong-listed Jacobson Pharma Corp, pushing its valuation to over $1.5 billion.
Also Read: