Hong Kong keeps those IPOs coming …
What global pandemic? Well off from the peak of local Covid-19 transmission, Chinese biotechs are continuing their listing plans after initial fears of lackluster public interest wore off.
Three of the most popular IPOs in Hong Kong this year have been biotech companies, data from the Hong Kong Stock Exchange show: cancer drug developers Akeso Biopharma and InnoCare Pharma, and medical device maker Peijia Medical, which debuted last Friday.
Peijia’s stock offering was oversubscribed 1,184 times, representing the highest retail subscription volume for a biotech IPO in Hong Kong since the exchange relaxed its listing rules in 2018, according to Bloomberg.
Several more biotechs have already filed for IPOs and are expected to list this year. Suzhou’s Kintor Pharma, which specializes in prostate cancer and androgen receptor-related diseases, raised as much as $240 million last week and is expected to start trading May 22. Last month also saw the IPO filings of Hangzhou’s CRO Tigermed and ophthalmology-focused Ocumension Therapeutics.
Three of the most popular IPOs in Hong Kong this year have been biotech companies, data from the Hong Kong Stock Exchange show: cancer drug developers Akeso Biopharma and InnoCare Pharma, and medical device maker Peijia Medical, which debuted last Friday.
Peijia’s stock offering was oversubscribed 1,184 times, representing the highest retail subscription volume for a biotech IPO in Hong Kong since the exchange relaxed its listing rules in 2018, according to Bloomberg.
Several more biotechs have already filed for IPOs and are expected to list this year. Suzhou’s Kintor Pharma, which specializes in prostate cancer and androgen receptor-related diseases, raised as much as $240 million last week and is expected to start trading May 22. Last month also saw the IPO filings of Hangzhou’s CRO Tigermed and ophthalmology-focused Ocumension Therapeutics.
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