• Home
  • News
  • Analysis
  •  
    Regions
    • Australasia
    • Southeast Asia
    • Greater China
    • North Asia
    • South Asia
    • North America
    • Europe
    • Central Asia
    • MENA
  •  
    Funds
    • LPs
    • Buyout
    • Growth
    • Venture
    • Renminbi
    • Secondary
    • Credit/Special Situations
    • Infrastructure
    • Real Estate
  •  
    Investments
    • Buyout
    • Growth
    • Early stage
    • PIPE
    • Credit
  •  
    Exits
    • IPO
    • Open market
    • Trade sale
    • Buyback
  •  
    Sectors
    • Consumer
    • Financials
    • Healthcare
    • Industrials
    • Infrastructure
    • Media
    • Technology
    • Real Estate
  • Events
  • Chinese edition
  • Data & Research
  • Weekly Digest
  • Newsletters
  • Sign in
  • Events
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)870 240 8859

      Email: customerservices@incisivemedia.com

      • Sign in
     
      • Saved articles
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
  • Free Trial
  • Subscribe
  • Weekly Digest
  • Chinese edition
  • Data & Research
    • Latest Data & Research
      2023-china-216x305
      Regional Reports

      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

      Read more
      2016-pevc-cover
      Industry Review

      Asian Private Equity and Venture Capital Review provides an independent overview of the private equity, venture capital and M&A activities in the Asia region. It delivers insights on investments made, capital raised, sector specific figures and more.

      Read more
      AVCJ Database

      AVCJ Database is the ultimate link between Asian dealmakers and those who provide advisory, financial, legal and technological services to the private equity, venture capital and M&A industries. It is packed with facts and figures on more than 153,000 companies and almost 117,000 transactions.

      Read more
AVCJ
AVCJ
  • Home
  • News
  • Analysis
  • Regions
  • Funds
  • Investments
  • Exits
  • Sectors
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)870 240 8859

    Email: customerservices@incisivemedia.com

    • Sign in
 
    • Saved articles
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
AVCJ
  • Greater China

Ocumension climbs on debut after $184m Hong Kong IPO

Ocumension climbs on debut after $184m Hong Kong IPO
  • Suhas Bhat
  • 14 July 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  

Ocumension Therapeutics, a Chinese drug developer targeting eye diseases that counts Boyu Capital and Temasek Holdings among its backers, posted a 152% gain on debut following a HK$1.5 billion ($200 million) Hong Kong IPO.

The company sold 105.9 million shares for HK$14.66 apiece, with the portion of the offering allocated to Hong Kong-based investors more than 1,895 times oversubscribed, according to a release. A further 15.8 million shares were sold under the overallotment option for international investors.

Ocumension's stock opened at HK$36.30 on July 10 and peaked at HK$39.20 before falling back to close at HK$37.00. As of late morning trading on July 13, it was at HK$33, down 10.8%.

Established in 2017 by 6 Dimensions Capital, a private equity fund jointly managed by Frontline BioVentures and WuXi Healthcare Ventures, Ocumension primarily acquires licenses for ophthalmic drugs developed overseas. It claims to have 16 drug assets with three eye drop treatments that have received approval for sale in the US. In China, two eye drop treatments have been approved for sale while a further eight drugs are currently awaiting pre-clinical trial. Other drugs are in advanced phases in the two countries. 

The company began building an R&D and production base in Suzhou earlier in the year. It has also been expanding its sales force and developing marketing strategies. Ocumension listed under the rules permitting Hong Kong IPOs by pre-revenue biotech companies. Its net loss widened from RMB209.4 million ($29.9 million) in 2018 to RMB1.3 billion last year, largely due to the issuance of preferred shares and share purchase options.

In 2018, Ocumension received angel and Series A funding from Frontline BioVentures – a life sciences-focused Chinese venture capital firm – and 6 Dimensions Capital, which was founded the prior year. Boyu Capital, Temasek Holdings, General Atlantic, Lake Bleu Capital, 3W Partners, Eight Roads, and Cormorant Asset Management participated in a $180 million Series B in 2019.

Following the IPO – but prior to the overallotment option – 6 Dimensions owned 45.37% of Ocumension. Boyu's stake was 13.6%, while Temasek and General Atlantic held 9.47% and 4.54%, respectively.  

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  
  • Topics
  • Greater China
  • IPO
  • Healthcare
  • China
  • Boyu Capital
  • Temasek Holdings
  • General Atlantic
  • Eight Roads
  • 6 Dimensions Capital
  • Frontline BioVentures

More on Greater China

Lower valuations, less leverage could drive China PE returns - HKMA Forum
Lower valuations, less leverage could drive China PE returns - HKMA Forum
  • Greater China
  • 09 November 2023
Ascendent bids $1.6b for China's Hollysys Automation
Ascendent bids $1.6b for China's Hollysys Automation
  • Greater China
  • 07 November 2023
Sinovation-developed LLM platform hits $1b valuation
Sinovation-developed LLM platform hits $1b valuation
  • Greater China
  • 06 November 2023
PE-backed Guoquan Food raises $52.5m in Hong Kong IPO
PE-backed Guoquan Food raises $52.5m in Hong Kong IPO
  • Greater China
  • 06 November 2023

Latest News

Asian GPs slow implementation of ESG policies - survey
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs
  • 10 November 2023
Singapore fintech start-up LXA gets $10m seed round
Singapore fintech start-up LXA gets $10m seed round

New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.

  • Southeast Asia
  • 10 November 2023
India's InCred announces $60m round, claims unicorn status
India's InCred announces $60m round, claims unicorn status

Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”

  • South Asia
  • 10 November 2023
Insight leads $50m round for Australia's Roller
Insight leads $50m round for Australia's Roller

Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.

  • Australasia
  • 10 November 2023
Back to Top
  • About AVCJ
  • Advertise
  • Contacts
  • About ION Analytics
  • Terms of use
  • Privacy policy
  • Group disclaimer
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013