HKEx revealed on September 12th that AIM Vaccine Co., Ltd., submitted an IPO application to the main board of the HKEx, with Goldman, CICC, China Securities International and Macquarie Group as its co-sponsors.
This is the second time that AIM Vaccine has applied for an IPO in Hong Kong. Its first try was on June 30th. In May last year, AIM Vaccine completed the Pre-IPO round of financing, invested by Puhua Capital, Everest VC and Lancheng Investment. In December last year, AIM Vaccine signed a listing counseling agreement with China Securities, with the aim of going public on the SSE STAR Market. The company later terminated the counseling agreement in June and submitted to the HKEx instead. By mid-July this year, the HKEx’s website displayed the company’s application as “Failed” for its initial examination and was “Returned”.
AIM Vaccine’s September prospectus shows that it is the largest private vaccine group in the whole industry chain. It achieved a batch issuance of about 60 million doses in 2020, and is China’s second-largest vaccine maker after Sinopharm subsidiary China National Biotec Group (CNBG).
Information from China Insights Consultancy indicates AIM Vaccine is the only Chinese vaccine enterprise to have all five verified human vaccine platform technologies, including the bacterial, viral, genetic, combined, and mRNA vaccine platform technologies.
The prospectus also shows that China is the second largest vaccine market in the world. The sales revenue in China accounts for 15.5% of the global market. The scale of China’s vaccine market has increased from 25.1 billion yuan in 2015 to 64 billion yuan in 2020, and is expected to reach 207.1 billion yuan in 2030 (except COVID-19 vaccine), growing faster than the global market.