Orum Therapeutics Inc. (Ticker: 475830 KS) is a South Korean biotechnology company that develops novel therapeutics, focusing on ADC (Antibody-Drug Conjugate) and TPD (Targeted Protein Degradation) technologies. The lead product candidate, ORM-6151 was licensed to Bristol-Myers Squibb in 2023. In July 2024, Orum Therapeutics entered into a technology transfer agreement with Vertex Pharmaceuticals, potentially worth up to $310 million per target for up to three targets.

Orum Therapeutics Inc. is expected to start trading on the KOSDAQ on February 14, 2025. The firm is selling 2.5 million shares, all primary, at a finalized price of KRW 20,000, which was below the initially proposed range of KRW 24,000-30,000. The expected Market Capitalization at offer is KRW 418.58 billion (USD $288.28 million). The total offer size is KRW 50 billion (USD $34.44 million), reduced from an initial filing amount of KRW 75 billion. The offering is managed by Korea Investment & Securities Co.

Northpointe Bancshares Inc. (Ticker: NPB) is a bank holding company incorporated in Michigan, backed by private equity firm Castle Creek. It operates primarily through its wholly-owned banking subsidiary, Northpointe Bank, offering a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers, and custodial deposit services to loan servicing clients.

Northpointe Bancshares Inc. will list on February 14, 2025, on NYSE. The firm is selling 8.8 million shares at the price range of $16.00-$18.00, with the company offering 7.35 million shares and selling stockholders offering 1.47 million shares. The expected Market Capitalization at offer is $561.72 million. The total offer size is $149.9 million. The offering is managed by Keefe, Bruyette & Woods (A Stifel Company).

Ferrari Group PLC (Ticker: FERGR NA) is a UK-based company operating in the transportation/services industry, specializing in luxury logistics, particularly the transportation and handling of jewelry and other luxury items. The company, established in Italy in 1959, is not related to the automaker Ferrari NV.

Ferrari Group PLC is expected to start trading on Euronext Amsterdam on February 13, 2025. The firm is selling 22.8 million shares, representing a 25% stake from the controlling Deiana family, at a price range of EUR 8.00-9.00 (USD $8.39-$9.44). The expected Market Capitalization at offer is up to EUR 822 million (approximately $888 million). The total offer size is EUR 205.20 million (USD $215.23 million). The offering is managed by ABN Amro Bank NV, Goldman Sachs Bank Europe SE, and Jefferies GmbH.

Aardvark Therapeutics (Ticker: AARD) is a clinical-stage biopharmaceutical company focusing on developing small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, including obesity. Their lead product candidate, ARD-101, is an oral gut-restricted small-molecule agonist of certain TAS2Rs for which they have initiated a Phase 3 clinical trial for hyperphagia associated with the genetic disorder Prader-Willi Syndrome (PWS). They also intend to evaluate ARD-101 in a Phase 2 clinical trial for hyperphagia associated with hypothalamic obesity, a rare condition that can be congenital or acquired through brain injury.

Aardvark Therapeutics will list on February 14, 2025, on NASDAQ. The firm is selling 5.9 million shares at the price range of $16.00-$18.00. The expected Market Capitalization at offer is around $363 million. The total offer size is $100 million. The offering is managed by Morgan Stanley/BofA Securities/Cantor/RBC Capital Markets.

Karman Holdings (Ticker: KRMN), also known as TCFIII SpaceCo Holdings LLC, is an aerospace and defense company specializing in the design, testing, manufacturing, and sale of mission-critical systems for missile and defense, and space programs. Their solutions include payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. Karman Holdings serves a diverse customer base within the Hypersonics & Strategic Missile Defense, Missile & Integrated Defense Systems, and Space & Launch end-markets.

Karman Holdings will list on February 14, 2025, on NYSE. The firm is selling 21.1 million shares at the price range of $18.00-$20.00. The expected Market Capitalization at offer is $2.5 billion. The total offer size is $400 million. The offering is managed by Citigroup/Evercore ISI/RBC Capital Markets/William Blair.

SailPoint Parent, LP (Ticker: SAIL) provides enterprises with customized identity security software offering a range of solutions to meet the varied needs of customers across multiple deployment options. Their solutions include Identity Security Cloud, a SaaS-based cloud solution built on their unified platform, Atlas, and IdentityIQ, a customer-hosted identity security solution.

SailPoint Parent, LP will list on February 13, 2025, on NASDAQ. The firm is selling 50.0 million shares at the price range of $19.00-$21.00, with SailPoint offering 47.5 million shares and the selling stockholders offering 2.5 million shares. The expected Market Capitalization at offer is $10.9 billion. The total offer size is $1 billion. The offering is managed by Morgan Stanley/Goldman Sachs/J.P. Morgan/Evercore ISI/BofA Securities/Barclays/Jeffries/RBC Capital Markets/BMO Capital Markets/BTIG/Mizuho/Piper Sandler/TD Cowen/Truist Securities.

HBX Group International PLC (Ticker: TBA) is a UK-based company operating in the e-commerce/services industry, specifically in internet-based travel technology. The company owns Hotelbeds, a major player in the travel technology sector.

HBX Group International PLC is expected to start trading on the Spanish stock market on February 13, 2025.The firm is selling shares at the price range of EUR 10.50-12.50 (USD $10.81-12.87). The expected Market Capitalization at offer is up to EUR 3.03 billion (USD $3.12 billion). The total offer size is EUR 725.00 million (USD $746.53 million). The offering is managed by BNP Paribas, Barclays, Citi, Deutsche Bank, and UBS. Investor demand has reportedly covered all shares offered, including the greenshoe option. The IPO is set to be the largest in Europe so far this year.

Guming (Ticker: 1364 HK) is a beverage company in China, specializing in bubble tea. The company operates under the brand "Good me", which is China's largest mid-priced freshly-made tea store brand and the second largest across all price ranges in terms of both Gross Merchandise Value and store count as of December 31, 2023. The company primarily operates under a franchise model and focuses on the mid-priced segment of China's freshly-made tea store market, offering fruit tea, milk tea, and coffee beverages.

Guming will list on February 12, 2025, on the HKEX. The firm is selling 158.6 million shares at the price range of HK$8.68-HK$9.94. The expected Market Capitalization at offer is $2.8 billion. The total offer size is $189.63 million. The offering is managed by Goldman Sachs (Asia) L.L.C. and UBS Securities Hong Kong Limited. The IPO has attracted five cornerstone investors that have invested a total of US$71 million, including a wholly-owned subsidiary of Tencent Holdings. Guming plans to use the IPO proceeds to strengthen its information technology team, digitalize its business management and store operations, enhance supply chain capabilities, branding and consumer engagement efforts, and for other general corporate purposes.

Sionna Therapeutics (Ticker: SION) is a clinical-stage biopharmaceutical company developing medicines for cystic fibrosis (CF) patients, that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein to deliver clinically meaningful benefits to CF patients. The company is conducting ongoing Phase 1 trials of two candidates, SION-719 and SION-451.

Sionna Therapeutics will list on February 7, 2025, on NASDAQ. The firm is selling 8.8 million shares at the price range of $16.00-$18.00. The expected Market Capitalization at offer is $692.88 million. The total offer size is $150.0 million. The offering is managed by Goldman Sachs/TD Cowen/Stifel/Guggenheim Securities.

Diagnostyka S.A. (Ticker: DIA PW) is a Poland-based provider of diagnostic services, operating in the medical labs and testing services industry. Established in 1998 and headquartered in Krakow, the company manages over 1,100 blood collection points and 156 laboratories across Poland, serving approximately 20 million patients annually.

Diagnostyka will list on the Warsaw Stock Exchange on February 7, 2025. The IPO involves the sale of 16.15 million secondary shares held by LX Beta S.à r.l., a company controlled by MidEuropa III Management Limited, which currently owns 47.83% of Diagnostyka. No new shares will be issued. The shares are priced at PLN 105.00 each, valuing the total offering at PLN 1.70 billion (USD 415.89 million).

The offering is managed by Citigroup Global Markets Limited, Bank Handlowy w Warszawie S.A. (Bank Handlowy Brokerage Office), Jefferies GmbH, Santander Bank Polska S.A. (Santander Brokerage Office), and Banco Santander, S.A., acting as joint global coordinators and joint bookrunners.

RedCloud Holdings PLC (Ticker: RCT) is a UK-based software company operating a B2B platform for trading fast-moving consumer goods (FMCG) across supply chains. Founded in 2014 and headquartered in London, the company’s platform leverages artificial intelligence to provide data-driven insights that help retailers make informed purchasing and inventory decisions. RedCloud currently operates in high-growth consumer markets, including Argentina, Brazil, Nigeria, and South Africa.

RedCloud Holdings PLC will list on February 7, 2025, on the NASDAQ. The firm is selling 11.0 million shares at the price range of $4.00-$6.00. The expected Market Capitalization at offer is $352 million. The total offer size is $66.0 million. The offering is managed by Roth Capital Partners, Clear Street LLC, and Rosenblatt Securities. For the 12 months ending June 30, 2024, RedCloud reported revenues of $30 million.

BioVersys AG (Ticker: BIOV SW) is a Swiss pharmaceutical company focusing on the research and development of small molecules acting on novel bacterial targets with applications in Anti-Microbial Resistance (AMR) and targeted microbiome modulation.

BioVersys AG will list on February 7, 2025, on the SIX Swiss Exchange. The firm is selling 2.08 million shares at the price of CHF 36.00 (USD 39.6792). The expected Market Capitalization at offer is CHF 212.9 million (USD equivalent not provided). The total offer size is CHF 75.00 million (USD 82.66 million). The offering is managed by Citi, UBS, and Stifel as joint global coordinators, with Octavian and Mirabaud as selling agents. The proceeds will be used for the development of its lead asset, BV100, and its second lead asset, Alpibectir, and the remaining proceeds are expected to be allocated to the Company’s preclinical pipeline.

Titan America (Ticker: TTAM) is a vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States. Incorporated in Belgium, the company provides materials that contribute to lower carbon emissions than traditional building materials and/or the beneficial reuse of waste materials. Titan America operates in Florida, the New York and New Jersey Metropolitan area, Virginia, North Carolina, and South Carolina. Their product portfolio includes cement and supplementary cementitious materials, aggregates, ready-mix concrete, concrete blocks, and other ancillary products.

Titan America will list on February 7, 2025, on NYSE. The firm is selling 24.0 million shares at the price range of $15.00-$18.00, with Titan America offering 9.0 million shares and the selling shareholder offering 15.0 million shares. The expected Market Capitalization at offer is $3041.94 million. The total offer size is $396.0 million. The offering is managed by Citigroup/Goldman Sachs/BofA Securities/BNP Paribas/Jefferies/HSBC/Societe Generale/Stifel.

Doosan Skoda Power AS (Ticker: Pending) is a Czech steam-turbine manufacturer and a unit of South Korea's Doosan Enerbility Co. The company produces steam turbines for nuclear power plants and is focused on growth in the nuclear energy sector.

Doosan Skoda Power AS will list on February 6, 2025, on the Prague Stock Exchange. The offering is managed by Doosan Enerbility, the parent company, which will retain at least 67% ownership. The firm is selling up to 33% of its existing and new shares at the price range of 220-260 koruna ($9.02-$10.66). The expected Market Capitalization at offer is up to 8.3 billion koruna ($340.3 million). The total offer size is 2.53 billion koruna ($103.73 million).

The proceeds from the IPO will be used to finance the expansion of its facilities, invest in research and development related to nuclear energy, and repay debt. The IPO proceeds will also finance Doosan Enerbility’s new investments in large-scale nuclear power plants, small modular reactors (SMRs), and the expansion of gas turbine facilities.

LG CNS (Ticker: 064400 KS) is a South Korean IT service company that provides consulting, system integration, and IT infrastructure services, focusing on digital transformation solutions such as cloud, AI, smart cities, and logistics optimization. The company is headquartered in Seoul, and operates globally.

LG CNS is scheduled to list on the KOSPI on February 5, 2025. The company plans to offer 19,377,190 shares, evenly split between new shares and existing shares. The offering price range is set at KRW 53,700 to KRW 61,900 per share. The total offer size is approximately KRW 1,040.6 billion (USD 711.98 million).

The lead underwriters for the IPO are KB Securities, Mirae Asset Securities, Shinhan Investment Corp., Daishin Securities, NH Investment & Securities, and Hana Financial Investment.

Metsera Inc. (Ticker: MTSR) is a clinical biopharmaceutical company developing injectable and oral nutrient-stimulated hormone analog peptides to treat obesity, overweight, and related conditions. Their most advanced product candidate, MET-097i, is a monthly, subcutaneously injectable GLP-1 receptor analog that is being developed for the treatment of obesity.

Metsera Inc. will list on January 31, 2025, on NASDAQ. The firm is selling 17.2 million shares at the price range of $15.00-$17.00. The expected Market Capitalization at offer is $1679.04 million. The total offer size is $275.0 million. The offering is managed by BofA Securities/Goldman Sachs/Evercore ISI/Guggenheim Securities/Cantor.

Infinity Natural Resources (Ticker: INR) is a U.S.-based independent oil and natural gas producer focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. The company operates in the Utica Shale in Ohio and Pennsylvania and the Marcellus Shale in Pennsylvania, leveraging its company-owned midstream infrastructure. As of June 30, 2024, the company has amassed approximately 90,000 net surface acres and increased its operated horizontal well count to 125, with nine additional wells in progress.

Infinity Natural Resources reported revenues of $221.01 million and net income of $54.5 million for the 12 months ending June 30, 2024. The company plans to list on the NYSE on January 31, 2025. The IPO consists of 13.3 million shares priced in a range of $18.00 to $21.00, targeting proceeds of approximately $258.4 million at the midpoint of the range. The estimated market capitalization at the midpoint is $1.15 billion.

The offering is led by Citigroup, Raymond James, and RBC Capital Markets, with additional participation from BofA Securities, Capital One Securities, Truist Securities, KeyBanc Capital Markets, Stephens Inc., and others. Proceeds from the IPO are intended to support the company’s continued growth and development of its oil and gas assets.

Maze Therapeutics (Ticker: MAZE) is a clinical-stage biopharmaceutical company. The company develops small molecule precision medicines for patients living with renal, cardiovascular, and related metabolic diseases, including obesity. Their Compass platform allows them to identify and characterize genetic variants in disease and link those variants to the biological pathways that drive disease in specific patient groups. Maze Therapeutics is advancing two wholly-owned lead programs, MZE829 and MZE782, for chronic kidney disease (CKD).

Maze Therapeutics will list on January 31, 2025, on NASDAQ. The firm is selling 7.8 million shares at the price range of $15.00-$17.00. The expected Market Capitalization at offer is $685.23 million. The total offer size is $124.8 million. The offering is managed by J.P. Morgan/TD Cowen/Leerink/Guggenheim Securities.

Beta Bionics, Inc. (Ticker: BBNX) is a medical equipment and devices company incorporated in Delaware. The company designs, develops, and commercializes solutions to improve the health and quality of life of insulin-requiring people with diabetes. Their product, the iLet Bionic Pancreas, is an insulin delivery device cleared by the FDA to utilize adaptive closed-loop algorithms to autonomously determine every insulin dose without requiring a user to count carbohydrate intake.

Beta Bionics, Inc. will list on January 30, 2025, on NASDAQ. The firm is selling 10.0 million shares at the price range of $16-17. The expected Market Capitalization at offer is $577.35 million. The total offer size is $165.0 million. The offering is managed by BofA Securities/Piper Sandler/Leerink/Stifel.

Smithfield Foods, Inc. (Ticker: SFD) is a U.S.-based food company specializing in meat products, particularly pork. The company, owned by Hong Kong-based WH Group since 2013, is the largest pork producer in the United States. Smithfield Foods will return to the U.S. stock market, listing on the Nasdaq Global Select Market on January 28, 2025.

The IPO includes 34.8 million shares, split equally between primary and secondary shares, at a price range of $23.00 to $27.00 per share, aiming to raise $939.6 million. A 15% greenshoe option of 5.22 million shares is also available. The offering could value the company at up to $10.73 billion at the top of the range.

The offering is managed by Morgan Stanley (lead underwriter), BNP Paribas, BTIG, Barclays, BofA Securities, Citigroup, Goldman Sachs, HSBC, and Rabo Securities. WH Group plans to reduce its ownership stake in Smithfield to 91.2% following the IPO. The proceeds are intended for investments in infrastructure, automation, and capacity expansion.

IPOX® CEO Josef Schuster noted with Reuters that as the first major consumer IPO of the year, Smithfield’s offering will be closely watched. He stated that the success of this IPO could influence other deals across industries, particularly if it performs well initially.

Ascentage Pharma Group International (Ticker: AAPG) is a China-based biopharmaceutical company focused on discovering, developing, and commercializing therapies for hematological malignancies and other diseases with unmet medical needs.

The company will uplist to the Nasdaq on January 24, 2025, offering 7.325 million American Depositary Shares (ADSs) at $20.34 per ADS, representing a total offering size of approximately $149.0 million. Each ADS represents four ordinary shares. Ascentage Pharma’s ordinary shares have been listed on the Hong Kong Stock Exchange (HKEx) since 2019 under the ticker “6855.” The company’s estimated market capitalization is $1.75 billion.

The offering is managed by J.P. Morgan and Citigroup. Proceeds from the offering will be used to advance clinical trials, pursue regulatory approvals, and support the company’s continued growth and development of therapies for hematological malignancies.

Venture Global, Inc. (Ticker: VG) is a U.S.-based liquefied natural gas (LNG) producer developing five LNG liquefaction and export projects near the Gulf of Mexico in Louisiana. The company’s projects are designed to deliver a total expected peak production capacity of 143.8 million tons per annum (mtpa).

Venture Global will list on the NYSE on January 24, 2025. The company is offering 70.0 million shares at a price range of $23.00 to $27.00 per share, with an estimated offer size of $1.89 billion. The offering includes a 15% greenshoe option of 10.5 million shares. The offering is managed by Goldman Sachs, J.P. Morgan, BofA Securities, ING, RBC Capital Markets, Scotia Capital, Mizuho Securities, Santander, SMBC Nikko, MUFG, and BBVA, with co-managers including Loop Capital Markets, Natixis, and Deutsche Bank.

Flowco Holdings Inc. (Ticker: FLOC) is an oil and gas field machinery equipment company providing production optimization, artificial lift, and methane abatement solutions. The company was formed in 2024 through the merger of Flowco Production Solutions, Estis Compression, and Flogistix, offering technologies such as high-pressure gas lift (HPGL), conventional gas lift, plunger lift, and vapor recovery units (VRU) with integrated digital solutions for real-time remote monitoring.

Flowco Holdings will list on January 16, 2025, on the New York Stock Exchange (NYSE). The company is offering 17.8 million shares at a price range of $21.00 to $23.00. The estimated offering size is $409.4 million, with an expected market capitalization of $1.93 billion. The offering is led by J.P. Morgan, Jefferies, and Piper Sandler, alongside Evercore ISI, BMO Capital Markets, and others.

Beijing Saimo Technology Co., Ltd. (Ticker: 2571 HK) is a Chinese technology company specializing in intelligent connected vehicle (ICV) simulation testing solutions. The company develops ICV simulation testing products and provides testing, validation, and evaluation services. In 2023, Saimo Tech was the largest market participant in China's ICV testing, validation, and evaluation solutions industry, with a 5.3% market share. It also led the ICV simulation testing software and platform market in China with a 5.9% share, according to Frost & Sullivan.

The company will list on the Main Board of the Hong Kong Stock Exchange on January 15, 2025. The IPO involves a global offering of 33,333,400 shares at an indicative price range of HKD 12.00 to 18.00 per share, with the subscription period running from December 31, 2024, to January 10, 2025. Based on a median offer price of HKD 15.00, Saimo Tech expects to raise approximately HKD 428 million (USD 64.27 million) in net proceeds. The company has secured China Mobile International as a cornerstone investor, with a subscription of HKD 148.5 million.

New Gonow Recreational Vehicles Inc. (Ticker: 805 HK) is a China-based manufacturer specializing in towable recreational vehicles (RVs). Headquartered in Tongxiang, Zhejiang Province, the company operates a 47,567-square-meter facility equipped with advanced manufacturing technology. New Gonow's product portfolio includes three brands: Snowy River (mid-range), Regent (luxury), and NEWGEN (semi-off-road). By 2023, the company had launched 39 RV models, including electric RVs with intelligent and autonomous driving systems.

The company will list on the Main Board of the Hong Kong Stock Exchange on January 13, 2025. The IPO involves a global offering of 240 million shares, with an expected price range of HKD 1.24 to 1.44 per share, aiming to raise up to HKD 345.6 million (USD 44.49 million). The offering is managed by BOCI Asia Ltd, CLSA Ltd, CMB International Capital Corp Ltd, First Shanghai Securities Ltd, Fosun International Securities Ltd, and Huatai International.

Yibin City Commercial Bank Co., Ltd. (Ticker: 2596 HK) is a city commercial bank headquartered in Yibin, Sichuan Province, China. Established in 2006, the bank provides a broad range of financial services, including deposits, loans, domestic settlements, bill discounting, government bond underwriting, insurance agency, and wealth management for both individuals and enterprises. As of December 31, 2023, it was the largest bank in Yibin by total assets and the second-largest city commercial bank in Sichuan by registered capital.

The bank will list on the Main Board of the Hong Kong Stock Exchange on January 13, 2025. The IPO involves a global offering of 688.4 million shares, with an expected price range of HKD 2.59 to 2.72 per share, aiming to raise up to HKD 1.87 billion (USD 241.17 million). A 15% greenshoe option of 103.26 million shares is included. The offering is managed by BOCI Asia Ltd, CCB International Capital Ltd, CLSA Ltd, CMBC Securities Co. Ltd, ICBC International Securities Ltd, Maxa Capital Ltd, and Shenwan Hongyuan.

Numans Health Food Holdings Co., Ltd. (Ticker: 2530 HK) is a China-based company specializing in the marketing, sales, and distribution of nutritional products. Established in 2019 and headquartered in Shanghai, the company's product portfolio includes algal oil DHA, probiotics, vitamins, multivitamins, and algal calcium, sold under proprietary brands. In 2022, Numans was the leading domestic brand in China’s algal oil DHA market, with a 22.5% market share by retail value, according to Frost & Sullivan.

The company will list on the Main Board of the Hong Kong Stock Exchange on January 10, 2025. Numans plans to offer 250 million shares globally, with an expected price range of HKD 0.80 to 1.09 per share, aiming to raise up to HKD 272.5 million (USD 35.1 million). A 15% greenshoe option equivalent to 37.5 million shares is included. The offering is managed by Caitong International Securities Co. Ltd., China Everbright Securities (HK), First Fidelity Capital International Ltd., and Futu Securities.

The proceeds from the IPO will be used to support product development, strengthen distribution networks, and enhance brand awareness within China's nutritional products market.

Bloks Group Ltd (Ticker: 325 HK) is a China-based toy manufacturer specializing in assembly character toys. Founded in 2014 and headquartered in Shanghai, the company offers a diverse portfolio of character and assembly toys, including licensed products from popular franchises such as Marvel, Ultraman and Transformers. As of June 30, 2024, the company had 431 SKUs and maintained partnerships with around 50 intellectual property franchises.

Bloks Group Ltd will list on the Main Board of the Hong Kong Stock Exchange on January 10, 2025. The company plans to offer 24.12 million shares globally, with an expected price range of HKD 55.65 to 60.35 per share, aiming to raise HKD 1.4557 billion (USD 187.4 million). The offering is managed by Goldman Sachs (Asia) and Huatai Financial Holdings Hong Kong Ltd.

The proceeds are earmarked for expanding product development, increasing production capacity, and strengthening the company's market presence in the toy industry.

ContiOcean Environment Tech Group Co., Ltd. (Ticker: 2613 HK) is a China-based provider of maritime environmental protection equipment and systems, offering solutions to help shipowners reduce sulfur and greenhouse gas emissions. The company also supplies interior design services and equipment aimed at improving onboard living conditions and enhancing maritime operations. Its product suite includes marine exhaust gas cleaning systems, energy-saving devices, clean-energy supply systems, and related services. In 2023, ContiOcean ranked third among Chinese ship exhaust gas cleaning system providers and fourth globally in terms of completed and cumulative orders, according to Frost & Sullivan.

The company will list on the Main Board of the Hong Kong Stock Exchange on January 9, 2025. The IPO comprises 10 million shares, priced between HKD 31.80 and 39.80 per share, with the subscription period running from December 31, 2024, to January 6, 2025. The expected net proceeds, based on an offer price of HKD 35.80 per share, are approximately HKD 312 million (USD 46.02 million). The offering is managed by CITIC Securities and China Galaxy International, with Harvest as a cornerstone investor subscribing to shares worth USD 10 million.

Anhui Conch Material Technology Co., Ltd. (Ticker: 2560 HK) is a China-based chemicals company specializing in cement and concrete admixtures and their upstream raw materials. The company operates 11 production facilities across multiple provinces in China. Anhui Conch Material Technology Co., Ltd. is a subsidiary of Anhui Conch Group Co., Ltd., a state-owned enterprise with diversified operations in construction materials and related sectors.

The company will list on the Hong Kong Stock Exchange's Main Board on January 9, 2025. The offering aims to raise HKD 478.41 million (USD 61.59 million), selling 144.97 million primary shares at an expected price range of HKD 3.00 to 3.30. The offering is managed by ABCI Capital Ltd, BOCI Asia Ltd, BOCOM International Securities Ltd, CCB International Capital Ltd, and China Galaxy International Securities. A 15% greenshoe option equivalent to 21.75 million shares is included in the offering.

The proceeds are earmarked for expanding production capacity, market growth initiatives, research and development, debt repayment, potential acquisitions or joint ventures, and working capital.