03880 泰德醫藥
MEDTIDE
MEDTIDE
| Register Close | 2025/06/25 IPO Closing in 5 Days |
| Listing Date | 2025/06/30 |
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IPO Detail
COMPANY PROFILE
Medtide Inc. mainly provides CRO services, namely peptide NCE discovery synthesis; and CDMO services, namely peptide CMC development and commercial manufacturing. The Group services primarily focus on providing customers with APIs rather than drug products.
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The Group is the third largest peptide-focused CRDMO worldwide in terms of sales revenue with a market share of 1.5% in 2023, according to the report. The Group is also one of the most comprehensive peptide-focused CRDMO globally, offering full-cycle services ranging from early-stage discovery, preclinical research and clinical development to commercial-stage production.
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The Group have established stable customer relationships and service footprint in over 50 countries, including major markets such as China, the United States, Japan, Europe, South Korea, and Australia. The Group provides its customers with peptide drug development, production, and CMC filing support services that meet regulatory requirements in major markets worldwide.
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As of December 31, 2024, the Group’s project pipeline included 1,217 ongoing CRO projects and 332 ongoing CDMO projects. The Group had nine NCE GLP-1 molecule development projects with seven customers in developing oral and/or injectable GLP-1 molecule products as of June 16, 2025.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 16.80M H shares |
| No. of International Offer Shares | 15.12M H shares |
| No. of HK Offer Shares | 1.68M H shares |
| Offer Price | $28.40 - $30.60 |
| Stock Code | 3880 |
| Sponsor(s) | Morgan Stanley Asia Limited, CITIC Securities (Hong Kong) Limited |
| Underwriter(s) | Morgan Stanley Asia Limited, CLSA Limited, China Everbright Securities (HK) Limited, Prime Securities Limited, Soochow Securities International Brokerage Limited, Aristo Securities Limited |
TIME TABLE
| Application Period | Jun 20 (Fri) - noon, Jun 25 (Wed) |
| Price Determination Date | Jun 26 (Thu) |
| Result Announcement Date | On or before Jun 27 (Fri) |
| Result Announcement Date | On or before Jun 27 (Fri) |
| Result Announcement Date | On or before Jun 30 (Mon) |
| Dealings in Shares commence on | Jun 30, 2025. (Mon) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $28.40 - $30.60 |
| Capitalization | 4.03B - 4.34B |
| NAV / share ($) | $9.35 - $9.59 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 29.50, the net proceeds raised would be HKD 411.20M, of which |
| 76.4% : Further expand service capability and capacity in the United States and China |
| 4.1% : Construct or acquire a new production facility in China primarily intended for GLP-1 production |
| 9.5% : Establish sales and after-sales service presence in more regions in Europe to enrich operations overseas and enlarge customer pool |
| 10% : Ｗorking capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).