Taizhou's Ab&B Bio-Tech lists on Hong Kong Main Board

Ab&B Bio-Tech is based in Taizhou, Jiangsu. [Photo/Ab&B Bio-Tech]

Ab&B Bio-Tech, a Taizhou-based enterprise, was successfully listed on the Main Board of the Hong Kong Stock Exchange on Aug 11, raising 392 million yuan ($54.61 million) in its initial public offering. The funds will be used mainly for product development.

The IPO drew overwhelming investor interest — the Hong Kong public offering was oversubscribed by a factor of more than 4,000, involving over HK$210 billion ($26.75 billion) in subscription capital, ranking third among all Hong Kong IPOs this year in terms of oversubscription rate.

The quadrivalent influenza virus subunit vaccine (for ages 3 and older) developed by Ab&B Bio-Tech is already on the market. [Photo/Ab&B Bio-Tech]

Ab&B Bio-Tech specializes in the R&D, manufacturing, and commercialization of vaccines. Its quadrivalent influenza virus subunit vaccine (for ages 3 and older) is already on the market, while the new drug application for its pediatric version (for ages 6–35 months) has been accepted. The company's 23-valent pneumococcal polysaccharide vaccine and lyophilized rabies vaccine (human diploid cell) have both completed Phase I clinical trials.

"Listing is not the end, but a new beginning," said An Youcai, chairman and general manager of Ab&B Bio-Tech. "We will leverage this milestone to continue advancing our work in innovative vaccines, accelerate clinical and regulatory progress for core products, expand our production and commercialization capacity, explore global markets, and contribute to global public health."

Ab&B Bio-Tech is the third H-share listed company from Taizhou, bringing the city's total number of Hong Kong-listed companies to six.