China-based medical aesthetics company Giant Biogene Holding Co., Ltd (HKG: 2367) has announced plans to conduct an initial public offering (IPO) of 22.61 million shares on the Hong Kong Stock Exchange. The offering price is set to range from HKD 24.3 (USD 3.10) to HKD 27.7 (USD 3.53) per share. Goldman Sachs and CICC will act as the co-sponsors of the transaction, which is expected to go live on November 4. The proceeds will be used to expand the company’s research and development (R&D) team, enhance R&D facilities, boost manufacturing capabilities, and strengthen omni-channel marketing and the marketing network.
Company Background and Market Position
Founded in 2000, Giant Biogene is one of China’s leading professional skin care companies, specializing in biological active ingredients, particularly recombinant collagen. The company’s recombinant collagen product, COLLGENE, ranked third in the industry in terms of sales in 2021. Giant Biogene was the first in the country to obtain a recombinant collagen medical device license. In 2021, the company generated RMB 1.55 billion (USD 212 million) in revenues and RMB 828 million (USD 113.3 million) in net profits.
Future Development Plans
The funds raised from the IPO will support Giant Biogene’s strategic initiatives to enhance its R&D capabilities and expand its manufacturing facilities. The company aims to further strengthen its market position by investing in omni-channel marketing and expanding its marketing network. This move underscores Giant Biogene’s commitment to innovation and growth in the medical aesthetics sector.-Fineline Info & Tech
