As the maid­en biotech IPO on the HKEX fiz­zles, some in­vest­ment ex­perts see an up­side in tem­per­ing the hype

The Hong Kong Ex­change grabbed the biotech world’s at­ten­tion when it changed the rules on a new list­ing, let­ting com­pa­nies with­out rev­enue jump in­to the mar­ket. That hap­pened while the Chi­nese biotech in­dus­try sud­den­ly be­came one of the hottest in­vest­ment games in the world. And to­geth­er those two trends were sup­posed to light a fire you could clear­ly see from every con­ti­nent.

But the flames have died down much faster than an­tic­i­pat­ed.

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