Article
Deloitte China assists listing of YZY BIO on Stock Exchange of Hong Kong
Deloitte has been reporting accountant for more pre-revenue biotech IPOs in Hong Kong than any other professional services firm so far in 2023
Publish date: 25 September 2023
We are delighted to share that Deloitte China supported the listing of Wuhan YZY Biopharma Co., Ltd. (YZY BIO, stock ticker: 02496.HK) on the Stock Exchange of Hong Kong (SEHK) on 25 September 2023.
YZY BIO offered 11 million shares at HKD16 per share, raising HKD176 million. This is the sixth pre-revenue biotech company to list in Hong Kong so far in 2023 and Deloitte has been reporting accountant to more of these IPOs than any other professionals services firm.
(From left) King Ge, Deloitte China A&A partner; Ernest Lee, Technical partner and member of the Listing Committee of the SEHK ; Rong Yuan, CFO of YZY BIO; Dr. Peng Fei Zhou, Chairman of Board & CEO of YZY BIO; Dick Kay, CMSG Offering Services Leader; Florence Wu and Sophie Duan, A&A manager; Louis Wong, CMSG Eastern Region Offering Services partner attend the listing ceremony.
About the client
Founded in 2010, YZY BIO is a biotechnology company dedicated to developing bispecific antibody (BsAb)-based therapies to treat cancer-associated complications, cancer, and age-related ophthalmologic diseases. YZY BIO has designed and developed seven clinical-stage drug candidates.
Source: YZY BIO's IPO prospectus published on 13 September 2023
About this IPO engagement
Deloitte China served YZY BIO throughout its IPO journey with a high-quality philosophy of "diligence and excellence". After the IPO engagement kicked off, we promptly established a multi-disciplinary engagement team with members from Audit & Assurance (A&A), Quality Control (EQCR), Technical, Internal Control, Tax Review, and Valuation Review. With its vast service experience in the capital market and outstanding service capability, our engagement team was dedicated to delivering the highest quality of professional services to help YZY BIO expedite its listing filing work smoothly at every stage of the IPO. Through cooperation and collaboration with all the involved intermediaries, YZY BIO achieved a successful listing on the Hong Kong capital market.
Deloitte China congratulates YZY BIO on its successful listing on the SEHK. We will continue to provide high quality professional services to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.
Stay tuned for more exciting listing news of our clients.
