03696 英矽智能
INSILICO
INSILICO
| Register Close | 2025/12/23 IPO Closing in 4 Days |
| Listing Date | 2025/12/30 |
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IPO Detail
COMPANY PROFILE
InSilico Medicine Cayman TopCo was founded in 2014, it is a reputable and global AI-driven drug discovery and development company. The Group operates under a project-based business model, deriving revenue primarily from out-licensing and collaboration arrangements.
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As of December 10, 2025, the Group has generated more than 20 clinical or IND-enabling stage assets using Pharma.AI, its proprietary generative AI platform, with three of these assets out-licensed to international pharmaceutical and healthcare companies with the maximum total contract value of US$2.1 billion, and one Phase II asset under self development.
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Leveraging Pharma.AI, on average, the Group’s drug candidates progress from target discovery to pre-clinical candidate (PCC) confirmation within 12-18 months, significantly shorter than the average of 4.5 years required by traditional methods. Pharma.AI consisting of Biology42, Chemistry42, Medicine42, and Science42, designed to operate across the entire drug discovery and development continuum.
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The Group’s business model consists of drug discovery and pipeline development, software solutions and other discovery related to non-pharma sectors. The Group conduct its business under the brand name “InSilico Medicine” and “英矽智能” and its major customers are pharmaceutical/biotech companies.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Software & Services |
| Major Business Area | Global |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 94.69M shares |
| No. of International Offer Shares | 85.22M shares |
| No. of HK Offer Shares | 9.47M shares |
| Offer Price | $24.05 |
| Stock Code | 3696 |
| Sponsor(s) | Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited, GF Capital (Hong Kong) Limited |
| Underwriter(s) | Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited, GF Securities (Hong Kong) Brokerage Limited, BNP Paribas Securities (Asia) Limited, Sinolink Securities (Hong Kong) Company Limited, BOCI Asia Limited |
TIME TABLE
| Application Period | Dec 18 (Thu) - noon, Dec 23 (Tue) |
| Price Determination Date | -- |
| Result Announcement Date | On or before Dec 29 (Mon) |
| Result Announcement Date | On or before Dec 29 (Mon) |
| Result Announcement Date | On or before Dec 30 (Tue) |
| Dealings in Shares commence on | Dec 30, 2025. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $24.05 |
| Capitalization | 13.41B |
| NAV / share ($) | $-18.41 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 24.05, the net proceeds raised would be HKD 2.03B, of which |
| 48% : Clinical research and development of key clinical stage pipeline drug candidates |
| 15% : Development of new generative AI models and the associated validation research work |
| 12% : Development and expansion of automated lab |
| 20% : For early-stage drug discovery and development |
| 5% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).