Company Overview
| Stock Name | Antengene-B |
|---|---|
| Stock Code | 06996 |
| Company Full Name | To be extracted |
| Industry | Healthcare |
| Principal Activities | 我們是一家專注於創新抗腫瘤藥物的亞太地區臨床階段生物製藥公司，擁有12款腫瘤藥物資產的創新型研發管線，包括兩種晚期臨床產品、四種早期臨床產品和六種臨床前產品。 |
| Listing Date | 2020-11-20 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 18A生物科技 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 上海市長寧區中山西路1065號SOHO中山廣場B座1206-1209室 |
| Business Address (Hong Kong) | 香港干諾道中88號及德輔道中173號南豐大廈9樓901室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | antengene.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism A |
|---|---|
| Offer Price | HK$ 18.08 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 500 shares |
| Entry Threshold | HK$ 9,040 |
| Par Value | RMB 0.0001 / shares |
| Offer Period | 2020-11-09 to 2020-11-12 |
| Global Offering Shares | 154,153,500 shares |
| HK Public Offer Shares (Initial) | 15,416,000 shares (10.0%) |
| Public Offer Lots (Initial) | 30,832lots (Pool A15,416lots，Pool B15,416lots) |
| International Placing Shares (Initial) | 138,737,500 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 668,198,144 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 49.9% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 2,787,095,280 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 9,040 |
| 2 lots | 1,000 | HK$ 18,080 |
| 3 lots | 1,500 | HK$ 27,120 |
| 4 lots | 2,000 | HK$ 36,160 |
| 5 lots | 2,500 | HK$ 45,200 |
| 6 lots | 3,000 | HK$ 54,240 |
| 7 lots | 3,500 | HK$ 63,280 |
| 8 lots | 4,000 | HK$ 72,320 |
| 9 lots | 4,500 | HK$ 81,360 |
| 10 lots | 5,000 | HK$ 90,400 |
| 12 lots | 6,000 | HK$ 108,480 |
| 14 lots | 7,000 | HK$ 126,560 |
| 16 lots | 8,000 | HK$ 144,640 |
| 18 lots | 9,000 | HK$ 162,720 |
| 20 lots | 10,000 | HK$ 180,800 |
| 30 lots | 15,000 | HK$ 271,200 |
| 40 lots | 20,000 | HK$ 361,600 |
| 50 lots | 25,000 | HK$ 452,000 |
| 60 lots | 30,000 | HK$ 542,400 |
| 70 lots | 35,000 | HK$ 632,800 |
| 80 lots | 40,000 | HK$ 723,200 |
| 90 lots | 45,000 | HK$ 813,600 |
| 100 lots | 50,000 | HK$ 904,000 |
| 120 lots | 60,000 | HK$ 1,084,800 |
| 140 lots | 70,000 | HK$ 1,265,600 |
| 160 lots | 80,000 | HK$ 1,446,400 |
| 180 lots | 90,000 | HK$ 1,627,200 |
| 200 lots | 100,000 | HK$ 1,808,000 |
| 400 lots | 200,000 | HK$ 3,616,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 600 lots | 300,000 | HK$ 5,424,000 |
| 800 lots | 400,000 | HK$ 7,232,000 |
| 1,000 lots | 500,000 | HK$ 9,040,000 |
| 1,200 lots | 600,000 | HK$ 10,848,000 |
| 1,400 lots | 700,000 | HK$ 12,656,000 |
| 1,600 lots | 800,000 | HK$ 14,464,000 |
| 1,800 lots | 900,000 | HK$ 16,272,000 |
| 2,000 lots | 1,000,000 | HK$ 18,080,000 |
| 3,000 lots | 1,500,000 | HK$ 27,120,000 |
| 4,000 lots | 2,000,000 | HK$ 36,160,000 |
| 5,000 lots | 2,500,000 | HK$ 45,200,000 |
| 6,000 lots | 3,000,000 | HK$ 54,240,000 |
| 7,000 lots | 3,500,000 | HK$ 63,280,000 |
| 8,000 lots | 4,000,000 | HK$ 72,320,000 |
| 9,000 lots | 4,500,000 | HK$ 81,360,000 |
| 10,000 lots | 5,000,000 | HK$ 90,400,000 |
| 12,000 lots | 6,000,000 | HK$ 108,480,000 |
| 15,416 lots | 7,708,000 | HK$ 139,360,640 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 2.57B |
| Est. Threshold | HK$ 9.05B |
| Analysis Result | HK market cap below threshold, need +253% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 12,081,022,443 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | 不適用（公司處於虧損狀態） |
| Profit/Loss Status | 虧損人民幣323.8百萬元 |
| Period-End Cash Balance | 人民幣746.8百萬元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
RMB
Income Statement
| Item | 2018 | 2019 |
|---|---|---|
| Other income and gains, net | 9,464 | 52,946 |
| Selling and distribution expenses | -370 | -24 |
| Administrative expenses | -24,275 | -39,349 |
| Net finance costs | -11,160 | -836 |
| Profit before tax | -145,952 | -323,787 |
| Income tax expense | 0 | 0 |
| Profit for the year | -145,952 | -323,787 |
| Profit attributable to owners | -145,952 | -323,787 |
Balance Sheet
| Item | 2018 | 2019 | 2020-06 |
|---|---|---|---|
| Cash and cash equivalents | 65,257 | 746,795 | |
| Total current assets | 77,130 | 755,603 | |
| Total current liabilities | 68,744 | 44,941 | |
| Total equity | -158,602 | -557,611 | |
| Equity attributable to owners | -158,602 | -557,611 | |
| Interest-bearing borrowings | 13,726 | 0 | 0 |
Cash Flow Statement
| Item | 2018 | 2019 | 2020-06 |
|---|---|---|---|
| Net cash from operating activities | -113,144 | -121,450 | |
| Net cash from investing activities | 96,816 | -430,367 | |
| Net cash from financing activities | 31,648 | 771,820 | |
| Net increase in cash | 15,320 | 220,003 | |
| Depreciation of PP&E | 172 | 215 | 118 |
| Depreciation of right-of-use assets | 591 | 1,288 | 1,450 |
| Amortisation of intangible assets | 0 | 3 | 15 |
| Purchase of PP&E | -450 | -11 | -2,064 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 18.28 |
|---|---|
| First Day Open | HK$ 19.6 |
| First Day Change | 1.11% |
| First Day Volume | 62460700.0 |
| First Day Turnover | 1182990000.0 |
| Use of Proceeds | 1、約1,071.1百萬港元（占所得款項凈額的41%）將分配予核心產品；
2、約654.4百萬港元（占所得款項凈額的25%）將用于為我們的其他四種臨床階段候選藥物提供資金；
3、約248.9百萬港元（占所得款項凈額的9%）預計將用于本公司管線中的其他臨床前候選藥物正在進行的臨床前研究及計劃進行的臨床試驗；
4、約359.7百萬港元（占所得款項凈額的14%）預計將用于擴大本公司的研發管線，包括發現新的候選藥物及業務開發活動；
5、約38.2百萬港元（占所得款項凈額的1%）預計將用于資本開支；
6、約263.6百萬港元（占所得款項凈額的10%）預計將用于一般公司用途。 |
Underwriting Syndicate
Joint Sponsors (2)
Overall Coordinators (4)
Joint Bookrunners (5)
Joint Lead Managers (6)
GOLDMAN SACHS (ASIA) L.L.C. CE ACC536
J.P. Morgan Securities (Asia Pacific) Limited CE AAJ321
Citigroup Global Markets Asia Limited CE AAA137
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CMB International Capital Limited CE AVM940
Futu Securities International (HONG KONG) Limited CE AZT137
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | BlackRock Funds | 116,254,400 HKD | — | 4.17% | — | 6 months | 2021-05-20 |
| 2 | Boyu Capital Opportunities Master Fund | 116,254,400 HKD | — | 4.17% | — | 6 months | 2021-05-20 |
| 3 | Cormorant Asset Management, LP | 116,254,400 HKD | — | 4.17% | — | 6 months | 2021-05-20 |
| 4 | CRF Investment Holdings Company Limited | 37,199,600 HKD | — | 1.33% | — | 6 months | 2021-05-20 |
| 5 | Fidelity International | 542,544,640 HKD | — | 19.47% | — | 6 months | 2021-05-20 |
| 6 | GIC Private Limited | 155,008,880 HKD | — | 5.56% | — | 6 months | 2021-05-20 |
| 7 | Hillhouse Funds | 116,254,400 HKD | — | 4.17% | — | 6 months | 2021-05-20 |
| 8 | Laurion Capital Master Fund, Ltd. | 37,199,600 HKD | — | 1.33% | — | 6 months | 2021-05-20 |
| 9 | Octagon Investments Master Fund LP | 37,199,600 HKD | — | 1.33% | — | 6 months | 2021-05-20 |
| 10 | SCC Growth VI Holdco F, Ltd. | 116,254,400 HKD | — | 4.17% | — | 6 months | 2021-05-20 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 梅建明 | — |
| Company Secretary | 曹洋、王承鏱 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 梅博士26.93%、JAY MEI 2020 GRAT 26.33%、Boyu Capital Group Holdings Ltd. 9.91%、FountainVest China Capital Partners GP3 Ltd. 8.53%、Qiming Corporate GP V, Ltd 6.01%等。 |
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