IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Company Overview
| Stock Name | Jiangxi Bio |
|---|---|
| Stock Code | 06915 |
| Company Full Name | Jiangxi Institute of Biological Products Inc. |
| Industry | Healthcare |
| Principal Activities | We are the largest provider and exporter of human tetanus antitoxin (human TAT) in China, a vertically integrated antiserum platform company spanning the entire industry chain, primarily engaged in the research and development, production and sales of human and veterinary antiserum products and veterinary anti-infective drugs. |
| Listing Date | 2026-06-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國 江西省吉安市 井岡山經濟技術開發區 火炬大道198號 |
| Business Address (Hong Kong) | 香港 銅鑼灣 勿地臣街1號 時代廣場二座31樓 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | www.jxswzp.cn |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | 卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 11.20 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 500 shares |
| Entry Threshold | HK$ 5,600 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-22 to 2026-06-25 |
| Global Offering Shares | 36,234,500 shares |
| HK Public Offer Shares (Initial) | 3,623,500 shares (10.0%) |
| Public Offer Lots (Initial) | 7,247lots (Pool A3,623lots，Pool B3,624lots) |
| International Placing Shares (Initial) | 32,611,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 308,377,000 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | China International Capital Corporation Hong Kong Securities Limited CE AEN894 |
| Cornerstone Share | 12.3% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 405,826,400 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 5,600 |
| 2 lots | 1,000 | HK$ 11,200 |
| 3 lots | 1,500 | HK$ 16,800 |
| 4 lots | 2,000 | HK$ 22,400 |
| 5 lots | 2,500 | HK$ 28,000 |
| 6 lots | 3,000 | HK$ 33,600 |
| 7 lots | 3,500 | HK$ 39,200 |
| 8 lots | 4,000 | HK$ 44,800 |
| 9 lots | 4,500 | HK$ 50,400 |
| 10 lots | 5,000 | HK$ 56,000 |
| 12 lots | 6,000 | HK$ 67,200 |
| 14 lots | 7,000 | HK$ 78,400 |
| 16 lots | 8,000 | HK$ 89,600 |
| 18 lots | 9,000 | HK$ 100,800 |
| 20 lots | 10,000 | HK$ 112,000 |
| 30 lots | 15,000 | HK$ 168,000 |
| 40 lots | 20,000 | HK$ 224,000 |
| 50 lots | 25,000 | HK$ 280,000 |
| 60 lots | 30,000 | HK$ 336,000 |
| 70 lots | 35,000 | HK$ 392,000 |
| 80 lots | 40,000 | HK$ 448,000 |
| 90 lots | 45,000 | HK$ 504,000 |
| 100 lots | 50,000 | HK$ 560,000 |
| 120 lots | 60,000 | HK$ 672,000 |
| 140 lots | 70,000 | HK$ 784,000 |
| 160 lots | 80,000 | HK$ 896,000 |
| 180 lots | 90,000 | HK$ 1,008,000 |
| 200 lots | 100,000 | HK$ 1,120,000 |
| 400 lots | 200,000 | HK$ 2,240,000 |
| 600 lots | 300,000 | HK$ 3,360,000 |
| 800 lots | 400,000 | HK$ 4,480,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,000 lots | 500,000 | HK$ 5,600,000 |
| 1,200 lots | 600,000 | HK$ 6,720,000 |
| 1,400 lots | 700,000 | HK$ 7,840,000 |
| 1,600 lots | 800,000 | HK$ 8,960,000 |
| 1,800 lots | 900,000 | HK$ 10,080,000 |
| 2,000 lots | 1,000,000 | HK$ 11,200,000 |
| 2,400 lots | 1,200,000 | HK$ 13,440,000 |
| 2,800 lots | 1,400,000 | HK$ 15,680,000 |
| 3,200 lots | 1,600,000 | HK$ 17,920,000 |
| 3,623 lots | 1,811,500 | HK$ 20,288,800 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 2.41B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +292% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 3,453,822,400 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 94.8 million |
| Period-End Cash Balance | RMB 73.83 million |
| Listing Expenses | ~HK$ 67,000,000 |
| Listing Expenses / Funds Raised | ~16.5% |
| Total Pre-IPO Investment | approximately RMB 90.7 million |
| First Day Close | Loading... |
|---|
Underwriting Syndicate
Joint Sponsors (2)
Sponsor cum Overall Coordinator (2)
Overall Coordinators (3)
Joint Global Coordinators (3)
Joint Bookrunners (6)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CHINA MERCHANTS SECURITIES (HK) CO., LIMITED CE AAI650
Futu Securities International (HONG KONG) Limited CE AZT137
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
Arta Asset Management Limited CE AQW828
Joint Lead Managers (6)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CHINA MERCHANTS SECURITIES (HK) CO., LIMITED CE AAI650
Futu Securities International (HONG KONG) Limited CE AZT137
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
Arta Asset Management Limited CE AQW828
Capital Market Intermediaries (6)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CHINA MERCHANTS SECURITIES (HK) CO., LIMITED CE AAI650
Futu Securities International (HONG KONG) Limited CE AZT137
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
Arta Asset Management Limited CE AQW828
Stabilizing Manager (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
美迈斯律师事务所 北京市康达律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
海问律师事务所有限法律责任合伙 竞天公诚律师事务所 |
| Auditor and Reporting Accountant | 德勤‧关黄陈方会计师行 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Compliance Advisor | Patrons Capital Limited CE BSM550 |
| Receiving Banks |
招商永隆银行有限公司 中国农业银行股份有限公司香港分行 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | WSH | 50,000,000 HKD | 4,464,000 | 12.32% | 1.45% | 6 months | 2026-12-30 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 敬玥 | JING Yue |
| Company Secretary | 敬瑞華、馮羨婷 | — |
| Non-Executive Director | 于愛蓮 | YU Ailian |
| Independent Non-Executive Director | 鄒平學 | ZOU Pingxue |
| Executive Director | 姚曉東 | YAO Xiaodong |
| Non-Executive Director | 肖長清 | XIAO Changqing |
| Independent Non-Executive Director | 曾曉亮 | TSANG Hiu Leong |
| Executive Director | 李長青 | LI Changqing |
| Independent Non-Executive Director | 吳迪 | WU Di |
| Executive Director | 敬瑞華 | JING Ruihua |
Major Shareholders
| Major Shareholders & Holdings | 前海天正 (wholly owned by 海南至正) holds 66.05% equity interest |
|---|
