Summary
- QuantumPharm, an AI drug researcher, became Hong Kong’s third-largest IPO of 2024 after pricing shares at HK$5.28.
- The IPO raised HK$989.3 million (US$126.8 million), making it the third-largest listing of the year.
- The pricing at the low end of the range surprised the market after strong investor response.
- QuantumPharm is the first company to list under Chapter 18C, a regime for pre-revenue specialist technology firms.