Deal Analysis: XtalPi’s (QuantumPharm) $126.7m IPO on HKEX

FA recently asked experts on their experience working on the first listing under HKEX’s newly introduced Chapter 18C for tech firms in the new economy.

Ryan Li

June 25, 2024

On June 13, stocks of Chinese company QuantumPharm, also known as XtalPi (HKEX: 2228), started trading on the main board of the Hong Kong Stock Exchange (HKEX). Shares were priced at HK$5.28 apiece and opened at HK$5.39, with an intraday high of HK$6.58 according to a HKEX disclosure. The firm managed to raise total proceeds of HK$989.3 million ($126.7 million) through the debut.

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