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HONG KONG, Nov 7, 2022 - (ACN Newswire) - On November 4, 2022, Legend Capital portfolio company Giant Biogene (2367.HK) was successfully listed on the main board of the Hong Kong Stock Exchange. The number of Giant Biogene's offer shares under the global offering is 22,608,800 shares at an issue price of HK$24.3 per share, which includes 2,261,200 Hong Kong offering shares, 20,347,600 international offering shares, as well as a 15% over-allotment option.
Giant Biogene is a leader in the bioactive ingredient-based professional skin treatment product industry in China and the first company in the world to successfully develop and industrialize recombinant collagen skin treatment products. Giant Biogene has been the largest collagen-based professional skin treatment product company by retail sales in China for the latest three consecutive years since 2019. According to Frost & Sullivan, Giant Biogene was the second-largest professional skin treatment product company in China in 2021, and its Collgene and Comfy, the flagship brands of recombinant collagen-based products, were the third and the fourth best-selling professional skin treatment brands, respectively. Giant Biogene is the first company to obtain a medical device registration for recombinant collagen-based products in China.
Legend Capital participated in Giant Biogene's only round of financing in 2021. Following the investment, Legend Capital provided Giant Biogene value-added services on core issues such as business strategy discussion, upstream and downstream business resource docking, executive talent introduction, and IPO listing process.
Richard LI, President of Legend Capital, said: "Congratulations to Giant Biogene on its successful listing on the main board of the Hong Kong Stock Exchange. Legend Capital is very honored to be an investor in Giant Biogene and to carry out in-depth investment cooperation with the company. With 22 years of development and unremitting efforts under the leadership of the company's management, Giant Biogene has achieved excellent results and has become a pioneer enterprise in the field of biosynthetic materials and products in China. We hope that Giant Biogene will make steady progress and achieve greater achievements in the future development and continue to brave the wind and the waves in the changing market."
Tony WANG, Managing Director of Legend Capital, said: "Giant Biogene is a pioneer in the synthetic biology industry. It not only builds a leading technology platform for genetic engineering, tissue engineering and material engineering but also applies scientific research results to the field of healthcare. Giant Biogene demonstrated the best practice out of the combination of production, education and research. We look forward to this diligent and pragmatic team continuing to go forward and leading Chinese brands to the international market in the future."
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).
Topic: Press release summary
Source: Legend Capital
Sectors: BioTech, Healthcare & Pharm, PE, VC & Alternatives
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From the Asia Corporate News Network
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