02396 華芢生物－Ｂ
B&K CORP-B
B&K CORP-B
| Register Close | 2025/12/17 IPO Closing in 4 Days |
| Listing Date | 2025/12/22 |
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IPO Detail
COMPANY PROFILE
B&K Corporation Limited was founded in 2012, it is a China-based biopharmaceutical company committed to developing therapies with an emphasis on protein drugs for indications with medical needs and market opportunities.
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The Group primarily focuses on the discovery, development and commercialization of
therapies for wound healing, currently platelet-derived growth factor (“PDGF”) drugs. PDGF is one of the growth factors secreted by platelets after injury, it promotes the development of new blood vessels, regulation of inflammation, and stimulation of cell proliferation and migration, among other things, which eventually leads to wound closure and healing.
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As of December 5, 2025, the Group’s pipeline comprised two Core Products: Pro-101-1 for the treatment of deep second-degree thermal burns, which has completed the statistical data analysis for Phase IIb clinical trial, and for the treatment of superficial second-degree thermal burns, which has reached last-patient-out but no statistical data was yet available; and Pro-101-2 for the treatment of diabetic foot ulcers, which is currently in Phase II clinical trial. The Group also have eight other product candidates.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 17.65M H shares |
| No. of International Offer Shares | 15.88M H shares |
| No. of HK Offer Shares | 1.77M H shares |
| Offer Price | $38.20 - $51.00 |
| Stock Code | 2396 |
| Sponsor(s) | Huatai Financial Holdings (Hong Kong) Limited, CITIC Securities (Hong Kong) Limited |
| Underwriter(s) | Huatai Financial Holdings (Hong Kong) Limited, CLSA Limited, China Merchants Securities (HK) Co., Limited, CMBC Securities Company Limited, China Galaxy International Securities (Hong Kong) Co., Limited, Guolian Securities International Capital Co., Limited, CMB International Capital Limited, Central China International Securities Co., Limited, Futu Securities International (Hong Kong) Limited, Huafu International Securities Limited, Livermore Holdings Limited, SPDB International Capital Limited, Fortune (HK) Securities Limited, Zinvest Global Limited, Winbull Securities International (HK) Limited |
TIME TABLE
| Application Period | Dec 12 (Fri) - noon, Dec 17 (Wed) |
| Price Determination Date | Dec 18 (Thu) |
| Result Announcement Date | On or before Dec 19 (Fri) |
| Result Announcement Date | On or before Dec 19 (Fri) |
| Result Announcement Date | On or before Dec 22 (Mon) |
| Dealings in Shares commence on | Dec 22, 2025. (Mon) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $38.20 - $51.00 |
| Capitalization | 4.49B - 6.00B |
| NAV / share ($) | $5.93 - $7.78 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 44.6, the net proceeds raised would be HKD 708.80M, of which |
| 61.8% : Funding the continual clinical development and commercialization of Core Products, Pro-101-1 and Pro-101-2 |
| 18.8% : Enhancing research and development capabilities by purchasing specialized equipment and instruments |
| 6.3% : Payment the expenses of PDGF products other than the Core Products for other indications, such as fresh wounds, pressure ulcers and radiation ulcers |
| 3.1% : Payment the expenses of pre-clinical research and development activities of Mes-201, Oli-101 and Oli-201 |
| 10% : Ｗorking capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).