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China's Suzhou Kintor Pharmaceuticals to launch Hong Kong IPO

Suzhou Kintor Pharmaceuticals Inc. is proposing to list on the main board of the Hong Kong Stock Exchange.

The Chinese drug developer intends to offer 92,347,500 shares in its IPO. The shares would comprise initially 83,112,500 international offer shares and 9,235,000 Hong Kong offer shares.

Suzhou Kintor expects to price the shares at between HK$17.80 and HK$20.15 apiece.

The IPO will begin at 9 a.m. Hong Kong time on May 12 and is expected to close at noon on May 15. Dealings in the shares are anticipated to commence May 22.

Huatai Financial Holdings (Hong Kong) Ltd. is the sole sponsor of the IPO.

Suzhou Kintor's lead product candidate is proxalutamide, which is being evaluated in late-stage clinical trials in China and mid-stage studies in the U.S. to treat certain patients with prostate cancer. The drug is also undergoing trials for breast cancer.