On Tuesday, Chinese veterinary vaccine supplier Zhengye Biotech (ZYBT, Financial) made a strong debut on the US stock market, surging over 22% to $4.88 per share. The company successfully completed its initial public offering (IPO) of 1.5 million shares, priced at $4 each.
Founded in 2004, Zhengye Biotech specializes in the research, development, manufacturing, and sales of veterinary vaccines, with a primary focus on livestock such as pigs and cattle. Its current product lineup includes 43 different vaccines, covering all major livestock vaccines. Additionally, the company is expanding its portfolio to include vaccines for domestic animals like dogs.
Zhengye Biotech's products are distributed across 29 provincial regions in China and exported to international markets, including Vietnam, Pakistan, and Egypt. For the 12 months ending December 31, 2023, the company reported sales revenue of $29 million.
