Connect Biopharma Holdings Ltd. (CNTB) Prices 11.25M ADS IPO at $17/ADS

Connect Biopharma Holdings Limited (NASDAQ: CNTB) today announced the pricing of its initial public offering of 11,250,000 American Depositary Shares (“ADSs”), representing 11,250,000 ordinary shares of the Company, at a public offering price of US$17.00 per ADS.

All of the ADSs are being offered by the Company. The Company has granted the underwriters an option to purchase up to an additional 1,687,500 ADSs within 30 days from the date of the final prospectus at the initial public offering price, less underwriting discounts and commissions. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately US$191.3 million, assuming the underwriters do not exercise their option to purchase additional ADSs, or approximately US$219.9 million, if the underwriters choose to exercise their option to purchase additional ADSs in full.

The ADSs are expected to begin trading on the Nasdaq Global Market on March 19, 2021 under the ticker symbol “CNTB.” The offering is expected to close on March 23, 2021, subject to customary closing conditions.

Jefferies LLC, SVB Leerink LLC, Piper Sandler & Co. and China International Capital Corporation Hong Kong Securities Limited are acting as joint book-running managers for this offering.

The Company’s registration statement related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering will be made only by means of a prospectus.

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