IPOs Review of Chinese Biomedical Companies in 2021

In 2021, there are 89 Chinese biomedical companies (according to the classification of "Pharmaceutical and Biological" based on the industry division method of Shenyin & Wanguo Securities) completed IPOs in the Chinese mainland, Hong Kong,, S.A.R, China, and the United States in total.

Among them, 57 companies were listed on the Chinese mainland (23 on A-shares and 34 on STAR), raising RMB 84.25 billion (RMB 26.6 billion on A-shares and RMB 57.7 billion on STAR); 24 companies were listed on Hong Kong, raising HKD 56.09 billion; 8 companies were listed on the United States, raising US$ 1.07 billion. 

Of the 57 companies that were listed on the Chinese mainland, 35 were on the Shanghai Stock Exchange, of which 34 were on the STAR and only 1 was on the main board market; while 18 were on the Shenzhen Stock Exchange and 4 were on the Beijing Stock Exchange. 

SSE (STAR)

In 2021, a total of 34 Chinese biomedical companies were listed through the STAR, raising a total of approximately RMB 57.7 billion in IPO capital.

June was the month with the largest number of IPOs in a single month, with a total of 8 biomedical companies such as BCHT and Chemexpress listing on the STAR; December marked the highest single-month fundraising for the listing, totaling RMB 24.3 billion.

As the world's first Chinese biomedical company with triple listing of "US+H+A shares", BeiGene became the largest biomedical company to raise funds on the STAR in 2021, raising RMB 22.16 billion. 

SEHK

In 2021, there were 24 Chinese biomedical companies listed on Hong Kong, raising HKD 56.09 billion in the capital.

February was the month with the largest amount of funds raised in a single month, with a total of HKD 13.32 billion. A-share listed Asymchem is the largest biopharmaceutical company to raise funds on the SEHK in 2021, raising HKD 7.15 billion. 

NASDAQ Stock Exchange

In 2021, 8 Chinese biomedical companies were listed on the NASDAQ Stock Exchange in the US, raising US$ 1.07 billion in capital.

Lianbio was the largest biomedical company to raise the most money in a U.S. IPO in 2021. 

It can be seen that, the current STAR is the first choice for domestic biomedical companies to list, and their enthusiasm for listing on the US has waned.

References: 

2021 China Biomedical Investment and Financing Blue Book