STOCKS | Tencent-Backed Libang Pharma Starts Hong Kong IPO Bookbuilding

Tencent-backed biopharmaceutical company Libang Pharma (9637) began its Hong Kong IPO subscription period on Thursday through next Wednesday (24), according to Ming Pao, offering 56.7554 million H shares globally with 10% allocated to Hong Kong and the remainder to international investors. The offer price is set at HK$22.6 per share, with maximum proceeds of about HK$1.283 billion.