Zelgen Biopharmaceuticals seeks Hong Kong H-share listing to boost finances

Suzhou Zelgen Biopharmaceuticals has announced its intention to issue H-shares and seek a listing on the main board of the Hong Kong Stock Exchange. The company plans to offer H-shares, with a par value of RMB 1.00 per share, through a global offering comprising a Hong Kong Public Offering and an International Placement. The proposed H-share issuance will represent no more than 25% of the company's total share capital after the offering, before the exercise of any overallotment option.

Proceeds from the offering, after deducting expenses, are intended for new drug research and development, capacity expansion, and working capital. The company also disclosed adjustments to its 2021 A-share invested projects, reducing investments in two Jacatinib clinical trials by RMB 92m and RMB 123m, respectively. These funds will be reallocated to a new ZG006 clinical trial for small cell lung cancer (SCLC) with an investment of RMB 165m and an additional RMB 50m for working capital.

Shareholders will vote on these proposals at the First Extraordinary General Meeting of 2025, scheduled for December 12, 2025. The company also seeks authorization for its board of directors to handle all related matters for the H-share listing and to make necessary amendments to its Articles of Association and other governance documents.