(November 4, 2021－Hong Kong) Clover Biopharmaceuticals, Ltd. (the “Company”; Stock code: 2197.HK) today announced the allotment results of the global offering of the Company (the “Global Offering”). The Offer Price has been determined at HK$13.38 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%).
The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been over- subscribed. A total of 17,687 valid applications have been received pursuant to the Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO service for a total of 66,001,500 Hong Kong Offer Shares, representing approximately 4.40 times of the total number of 15,000,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering.
As the number of Offer Shares validly applied for under the Hong Kong Public Offering represents less than 15 times of the number of Offer Shares initially available for subscription under the Hong Kong Public Offering, the reallocation procedures as described in the section headed “Structure of the Global Offering” in the Prospectus has not been effected.
The Offer Shares initially offered under the International Offering have been over-subscribed, representing approximately 3.21 times of the total number of Offer Shares initially available under the International Offering. The final number of Offer Shares under the International Offering is 135,000,000 Offer Shares, representing approximately 90% of the total number of Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option). There has been an over-allocation of 22,500,000 Offer Shares in the International Offering and there are a total of 126 placees under the International Offering.
Based on the Offer Price of HK$13.38 per Offer Share, the net proceeds from the Global Offering to be received by the Company, after deduction of the underwriting fees and expenses payable by the Company in connection with the Global Offering, are estimated to be approximately HK$1870.2 million (assuming the Over-allotment Option is not exercised).
Assuming that the Global Offering becomes unconditional in all respects at or before 8:00 a.m. on Friday, November 5, 2021 (Hong Kong time), dealings in the Shares on the Stock Exchange are expected to commence at 9:00 a.m. on Friday, November 5, 2021 (Hong Kong time). The Shares will be traded in board lots of 500 Shares each. The stock code of the Shares is 2197.
Goldman Sachs (Asia) L.L.C. and China International Capital Corporation Hong Kong Securities Limited are the Joint Sponsors. Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited and Credit Suisse (Hong Kong) Limited are the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.
Source: Oceanpine Capital
