Xuanzhu Bio raises $100 million in oversubscribed Hong Kong IPO
Chinese biotech Xuanzhu Biopharmaceutical (2575.HK) has raised over HK$780 million ($100 million) through its debut on the Hong Kong Stock Exchange. The public tranche was oversubscribed more than 4,900 times, making it one of the most popular new listings of the year.
The listing, carried out under Chapter 18A for pre-revenue biotech firms, marks a spin-off from Sihuan Pharmaceutical Holdings Group (0460.HK). The separation is designed to provide Xuanzhu with greater funding flexibility, while Sihuan sharpens its strategy around medical aesthetics.
DLA Piper advised the sole sponsor and underwriters, with George Wu, co-head of equity capital markets for EMEA and Asia Pacific, leading the transaction. Mr Wu said the deal reflects confidence both in Xuanzhu’s potential and in the resilience of Hong Kong’s capital markets.
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