CRO enterprises providing non-clinical research services for biomedicine, Innospec intends to issue 35.24 million shares at a price of RMB 44.49 per share
AInvestWednesday, Aug 14, 2024 7:30 am ET
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Yinnovate (688710.SH) released the initial public offering (IPO) stock and the prospectus for listing on the STAR Market, the company's IPO stock is 3524.49 million shares, accounting for 25% of the total shares after the issue. The initial public offering price date is August 20, 2024, and the subscription date is August 23, 2024.

It is reported that the issuer is a CRO enterprise that mainly provides nonclinical research services for biopharmaceuticals. As one of the earliest enterprises in China to have both NMPA's GLP certification and OECD's GLP certification, and have passed the GLP inspection of the US FDA, it has kept pace with international standards and has internationally competitive capabilities in the industry, providing all-round preclinical research services that meet domestic and international filing standards for global pharmaceutical enterprises and research institutions.

The company's services mainly cover three major blocks: early drug evaluation, nonclinical research and clinical detection and conversion research. Among them, the nonclinical research block includes nonclinical safety evaluation, nonclinical pharmacokinetic research and nonclinical pharmacology research. After years of development and accumulation, the issuer ranks among the top three in the domestic nonclinical safety evaluation market, and is at the forefront of the industry.

The company realized net profit attributable to shareholders of RMB 8672.74 million, RMB 135 million and RMB 194 million in 2021, 2022 and 2023 respectively.

The total amount of funds raised will be used to invest in the following projects: 1. Yinnovate headquarters and innovation and conversion center project, RMB 104.5 million will be invested; 2. High-quality nonclinical innovation drug comprehensive evaluation platform expansion project, RMB 35.7 million will be invested; 3. Supplemental working capital, RMB 20 million will be invested.

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