Deloitte China assists listing of Sunho Biologics on SEHK

Deloitte China supported the listing of Sunho Biologics, Inc. (Sunho Bio - B, stock ticker: 02898.HK; Sunho Biologics) on the Stock Exchange of Hong Kong (SEHK) on 24 May 2024. The Sunho Biologics IPO is Hong Kong's largest pre-revenue biotech listing year to-date and Deloitte's 1st pre-revenue biotech listing in Hong Kong this year.

Sunho Biologics offered about 34.15 million shares at HKD13.50 each, raising around HKD461 million.

(From left) Jane Wang, Deloitte China's A&A manager; Tim Wu, A&A senior manager; Xu Chun Qin, CFO of Sunho Biologics; Ernest Lee, Technical partner, and a member of the Listing Committee of the Stock Exchange of Hong Kong; Zhang Feng, Board Chairman of Sunho Biologics; Yin Liu Song, CEO of Sunho Biologics; and Amy Yu and Louis Wong, A&A partners of Deloitte China attend the listing ceremony of Sunho Biologics

(From left) Jane Wang, Deloitte China's A&A manager; Louis Wong, A&A partner; Yin Liu Song, CEO of Sunho Biologics; Ernest Lee, Technical partner, and a member of the Listing Committee of the Stock Exchange of Hong Kong; Zhang Feng, Board Chairman of Sunho Biologics; Xu Chun Qin, CFO of Sunho Biologics; Amy Yu, A&A partner of Deloitte China; and Tim Wu, A&A senior manager attend the listing ceremony of Sunho Biologics

Client overview

Sunho Biologics is a clinical stage biopharmaceutical company that focuses on the discovery, development, and commercialisation of biologics for the treatment of cancers and autoimmune diseases. It has three developed in-house core products and has initiated Phase II clinical trials for biliary tract carcinoma and completed a colorectal cancer to date Phase I clinical trial for advanced solid tumours. The company has nine pipeline products. In addition to its core products, three of these pipeline products are in the clinical stage, also focusing on the treatment of cancer.

Source: Sunho Biologics' IPO prospectus published on 16 May 2024

Deloitte's role

Deloitte China served Sunho Biologics throughout its IPO journey with a high-quality philosophy of "diligence and excellence". After the IPO engagement began, we promptly established a multi-disciplinary engagement team with members from Audit & Assurance (A&A), Engagement Quality Control Review (EQCR), Technical, Internal Control, 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 Sunho Biologics expedite its listing filing work smoothly at every stage of the IPO. Through cooperation and collaboration with all the involved intermediaries, Sunho Biologics became listed on the Hong Kong capital market.

Deloitte China congratulates Sunho Biologics on its successful listing on SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.