Chinese biopharmaceutical company JIUYUAN GENE (02566.HK) announced the details of its offering. It proposed to offer 45.3988 million shares globally, of which about 10% will be offered in Hong Kong and about 90% will be offered internationally. The offer price ranges from $11.48 to $12.56 per share.

The entry fee is $2,537.33 for a 200-share board lot. The offer will be launched today (20th) and will close at noon next Monday (25th), with listing expected to take place next Thursday (28th). The sole sponsor is Huatai International.

The company introduced seven cornerstone investors, including Heda HK, Fosun Industrial under FOSUN PHARMA (02196.HK) , HK King-Friend under KING-FRIEND (603707.SH) , Alibaba Health HK under ALI HEALTH (00241.HK) , and Jointown International under JOINTOWN PHARMACEUTICAL (600998.SH) , which subscribed a total of $350 million in shares of the company.

Based on the median offer price of $12.02, the company's listing is expected to raise net proceeds of about $468 million.
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