CMBI acted as Joint Bookrunner for the Hong Kong IPO of JOINN Laboratories (China) Co., Ltd. (6127.HK)

Transaction Overview

JOINN Laboratories (China) Co., Ltd. (Stock code: 6127.HK) is successfully listed on the Hong Kong Stock Exchange on February 26, 2021. CMBI acted as Joint Bookrunner for this IPO.

JOINN is a leading non-clinical CRO focused on drug safety assessment. JOINN is also in the process of expanding our offerings to an integrated range of services covering discovery, pre-clinical and clinical trial stages in the drug R&D service chain. The non-clinical studies refer to pharmaceutical R&D studies other than clinical trials conducted on human subjects. Such non-clinical studies encompass all major stages of the pharmaceutical R&D process, including discovery, pre-clinical and clinical trial stages. Setting out as a CRO specialized in pharmacology and toxicology studies for innovative drugs in China, JOINN has now become the largest CRO in non-clinical drug safety assessment in China with a market share of 15.7% in terms of revenues in 2019, according to Frost & Sullivan. In 2019, the market size of China and global non-clinical drug safety CRO market was US$415.7 million and US$4.8 billion, respectively, accounting for approximately 6.1% and 7.7% of the US$6.8 billion and US$62.6 billion market size of China and global pharmaceutical CRO in 2019, respectively, according to Frost & Sullivan. The A Shares of the Company have been listed on the Shanghai Stock Exchange (stock code: 603127) since August 2017.

JOINN issued 43,324,800 shares (assuming the Over-allotment Option is not exercised) with offering price fixed at HK$151.00, and the offering size was approximately HK$6,542 million (assuming the Over-allotment Option is not exercised). The offering has received wide recognition from the market with the international tranche approximately 26 times oversubscribed. And HKPO tranche of Tigermed was 310 times oversubscribed.

As the joint bookrunner of this transaction, CMBI fully leveraged distribution network and introduced many high-quality orders. from International Long Only funds, Healthcare Specialist funds and top tier Chinese Long Only funds and insurance funds, perfectly demonstrating CMBI's broad investor coverage and strong underwriting capability.

The listing of Tigermed is the 21th IPO from CMBI since 2019 in healthcare sector, and this transaction has once again demonstrated the leading position of CMBI in this sector.

Source: Prospectus and Company Announcement

 

About JOINN

JOINN is a leading non-clinical CRO focused on drug safety assessment. JOINN is also in the process of expanding our offerings to an integrated range of services covering discovery, pre-clinical and clinical trial stages in the drug R&D service chain. The non-clinical studies refer to pharmaceutical R&D studies other than clinical trials conducted on human subjects. Such non-clinical studies encompass all major stages of the pharmaceutical R&D process, including discovery, pre-clinical and clinical trial stages. Setting out as a CRO specialized in pharmacology and toxicology studies for innovative drugs in China, JOINN has now become the largest CRO in non-clinical drug safety assessment in China with a market share of 15.7% in terms of revenues in 2019, according to Frost & Sullivan. In 2019, the market size of China and global non-clinical drug safety CRO market was US$415.7 million and US$4.8 billion, respectively, accounting for approximately 6.1% and 7.7% of the US$6.8 billion and US$62.6 billion market size of China and global pharmaceutical CRO in 2019, respectively, according to Frost & Sullivan. The A Shares of our Company have been listed on the Shanghai Stock Exchange (stock code: 603127) since August 2017.

Source: Prospectus

Disclaimer

This material is for reference only. Investor should rely only on the information contained in the Prospectus of this Global Offering to make investment decision.

Publish Date:2021-02-26
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