(Yicai Global) April 23 -- Unprofitable biopharmaceutical company Akeso, which will list on the Hong Kong Stock Exchange tomorrow under the symbol HKG:9926, has been over-subscribed approximately 640 times, according to its IPO information that it updated today.

Based on its offer price of HKD16.18 (USD2.10) per share, the net proceeds from the global offering to be received by the company are estimated at around HKD2.44 billion (USD310 million).

Based in Zhongshan in China’s southern Guangdong province, Akeso is a clinical-stage biopharmaceutical company focused on oncology and immunology and other therapy areas.

Akeso has earned no revenue from product sales and suffered losses of CNY154.4 million (USD22 million) and CNY346.5 million in 2018 and 2019, respectively, its prospectus shows.

Editor: Ben Armour