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IPO Detail
02396 華芢生物－Ｂ
B&K CORP-B
Listing Date2025/12/22    Listing Tomorrow
Listing Price38.200
Grey Market Performance
Last updated: 19/12/2025 19:59  Refresh
  • Bright Smart
    up 38.400 +0.200 (+0.524%)
    High
    56.000
     
    Low
    35.600
    Volume
    69,600
    One Lot Profit
    +40.00
  • Phillip
    up 38.420 +0.220 (+0.576%)
    High
    60.200
     
    Low
    34.400
    Volume
    1,450,000
    One Lot Profit
    +44.00
  • Futu
    up 40.400 +2.200 (+5.759%)
    High
    72.150
     
    Low
    38.300
    Volume
    782,400
    One Lot Profit
    +440.00
  • Bid
  • Ask
  • 38.320
  • (1) 200
  • 400 (2)
  • 38.400
  • 38.300
  • (1) 1K
  • 600 (1)
  • 38.420
  • 38.280
  • (0) 0
  • 0 (0)
  • 38.440
  • 38.260
  • (0) 0
  • 0 (0)
  • 38.460
  • 38.240
  • (0) 0
  • 0 (0)
  • 38.480
  • 38.220
  • (0) 0
  • 0 (0)
  • 38.500
  • 38.200
  • (0) 0
  • 0 (0)
  • 38.520
  • 38.180
  • (0) 0
  • 0 (0)
  • 38.540
  • 38.160
  • (0) 0
  • 0 (0)
  • 38.560
  • 38.140
  • (0) 0
  • 0 (0)
  • 38.580
  • Bid
  • Ask
  • 38.420
  • (1) 4K
  • 400 (2)
  • 38.480
  •  
  • (1) 200
  • 200 (1)
  •  
  •  
  • (1) 10K
  • 200 (1)
  •  
  •  
  • (0) 0
  • 0 (0)
  •  
  •  
  • (0) 0
  • 0 (0)
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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
MarketHong Kong (Main Board)
Business NatureHealth Care
Major Business AreaChina
Board Lot200
GLOBAL OFFERING
No. of Offer Shares17.65M H shares
No. of International Offer Shares15.88M H shares
No. of HK Offer Shares1.77M H shares
Offer Price$38.20 - $51.00
Stock Code2396
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 PeriodDec 12 (Fri) - noon, Dec 17 (Wed)
Price Determination DateDec 18 (Thu)
Result Announcement DateOn or before Dec 19 (Fri)
Result Announcement DateOn or before Dec 19 (Fri)
Result Announcement DateOn or before Dec 22 (Mon)
Dealings in Shares commence onDec 22, 2025. (Mon)
Reallocation of Shares Offered
Sales Statistics (HKD)
Offer Price$38.20 - $51.00
Capitalization4.49B - 6.00B
NAV / share ($)$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
IPO NEWS
19/12/2025 18:35
{New Stock}B&K CORP-B(02396) ends up 0.58% on grey market
19/12/2025 16:20
{New Stock}B&K CORP-B up 28.27% at HK$49 on grey market
Related Document
Prospectus Prospectus  Chinese VersionProspectus  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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