trending Market Intelligence /marketintelligence/en/news-insights/trending/BLHGOjSvd7Wy-74I5sIBbw2 content esgSubNav
In This List

China's I-Mab prices $103.7M US IPO at higher end of expected range

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

University Essentials: From Crisis to Resilience – Navigating Sustainable Recovery

Blog

EV impact; vaccines to boost job market; coal supply constraints

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


China's I-Mab prices $103.7M US IPO at higher end of expected range

I-Mab priced its planned IPO of 7,407,400 American depositary shares at $14 apiece.

The price is at the higher end of a previously disclosed range of between $12 and $15 per ADS. I-Mab said every 10 ADSs represent 23 of its common shares.

Shanghai-based I-Mab will list its shares on the Nasdaq Global Market under the symbol IMAB starting Jan. 17, it added.

Underwriters for the offering will receive a 30-day option to buy up to an additional 1,111,110 ADSs.

The clinical-stage biopharmaceutical company expects about $103.7 million in gross proceeds from the offer if the underwriters do not exercise their option. If the option is fully exercised, proceeds will reach about $119.3 million.

I-Mab previously said it plans to use proceeds from the IPO for research and development, establishment of facilities in the U.S. as well as for general corporate purposes.

For the offering, Jefferies LLC and China International Capital Corp. Hong Kong Securities Ltd. are the book-running managers, while China Renaissance Securities (Hong Kong) Ltd. and Huatai Securities (USA) Inc. are the lead managers.