Zhengye Biotechnology Holding, a Chinese provider of veterinary vaccines with a focus on livestock, announced terms for its IPO on Friday.
The Jilin, China-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Zhengye Biotechnology Holding would command a market value of $211 million. The IPO float is just 2.7% of basic shares outstanding.
Through its operating entity, the company focuses on the research, development, manufacturing, and sale of veterinary vaccines, with an emphasis on vaccines for livestock. Its product portfolio currently contains 43 veterinary vaccines, covering all major vaccines for livestock like swine and cattle, and it is also developing vaccines for household animals like dogs. Zhengye Biotechnology's products are available in 29 provincial regions across China and are exported overseas to Vietnam, Pakistan, and Egypt.
Zhengye Biotechnology Holding was founded in 2004 and booked $29 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol ZYBT. Kingswood Capital Markets is the sole bookrunner on the deal.
