We are pleased to announce that on 10 December 2021, China Merchants Securities (HK) Co., Limited (“CMS (HK)”, a subsidiary of China Merchants Securities International Company Limited), acting as one of the Joint Bookrunners of CANbridge Pharmaceuticals Inc. (“CANbridge” or “the Company”, stock code: 1228.HK), successfully assisted the Company to commence trading of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”). A total of 56.251 million shares are issued and offered under the Global Offering, at a fixed offer price of HK$12.18 per share, raising a total of approximately HK$685 million (before the exercise of the over-allotment option) or HK$788 million (assuming the over-allotment option is fully exercised).
As one of the two Joint Bookrunners of CANbridge’s IPO, CMS (HK) actively participated in the marketing and bookbuilding process introducing a number of global, Asian and Chinese institutional investors to the Company and facilitating in-depth communication between the Company and investors in Shanghai directly, or via one-on-one telephone conference. During the bookbuilding process, CMS (HK) secured high quality orders from a number of renowned global multi-strategy funds and Chinese long-only funds, which contributed to an optimized investor composition and laid a solid foundation for the successful listing of the Company on the HKEx. Overall, CANbridge’s IPO has received positive responses from the capital markets with seven cornerstone investors subscribing in a total of US$60 million.
About CANbridge Pharmaceuticals Inc.
CANbridge is a China-based, rare disease-focused biopharmaceutical company founded in 2012 that is committed to the research, development and commercialization of biotech therapies. As of the Latest Practicable Date, it had developed a comprehensive pipeline of 13 drug assets with significant market potential, including three marketed products, four drug candidates at clinical stage, one at IND-enabling stage, two at preclinical stage and another three gene therapy programs at lead identification stage. Its products and product candidates target some of the most prevalent rare diseases as well as rare oncology indications, including but not limited to glioblastoma (GBM) and Mucopolysaccharidosis Type II (MPS II or Hunter syndrome). GBM represents 46.6% of the total incidence of brain cancer in China and has reached 54.7 thousand in 2020 with a CAGR of 2.0% from 2016 to 2020, and is expected to grow steadily to 59.8 thousand in 2025 and 64.4 thousand in 2030 at a CAGR of 1.8% and 1.5%, respectively.