Lifepharma-B Shares Surge 76.99% on First Day of Gray Market Trading, Up to HK$40

According to ZhiTong Finance, Lifepharma-B (09637), positioning itself as the first Hong Kong-listed kidney disease innovation drug company, saw its shares surge 76.99% in gray market trading today, with prices reaching HK$40 compared to the IPO price of HK$22.60. Each board lot of 100 shares generated a paper gain of HK$1,740. The company will officially list on the Hong Kong Stock Exchange on June 29. The IPO offered 56.7554 million H shares at HK$22.60 per share, with gross proceeds of approximately HK$1.181 billion. The offering attracted 11 cornerstone investors including GIC, Loomis Sayles, RTW Fund, Symbiosis, Tencent, Cormorant, and several Chinese fund managers, collectively subscribing to US$81.5 million worth of shares.
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