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IPO News: First Biotech IPO for HKEX Priced; Trading Started Aug 1
Ascletis reaps record $400M from Hong Kong investors in the exchange’s first-ever pre-revenue biotech listing
The first pre-revenue biotech to list on Hong Kong’s stock exchange has landed. And its success will likely spur plenty of more such offerings in search of a big payoff.
Ascletis has raised $400 million by selling 224 million new shares at around $1.78 (HK$14) — right in the middle of its anticipated HK$12 to HK$16 range, Reuters reported. It’s scheduled to begin trading on August 1, less than three months after it first filed for the IPO.
full article here