A Chi­na biotech uni­corn scores big with $150M-plus IPO on Nas­daq, stock rock­ets up

Zai Lab CEO Saman­tha Du is sched­uled to step up and ring the open­ing bell on Nas­daq this morn­ing — and she’ll have plen­ty to cheer about.

The Shang­hai-based biotech raised $150 mil­lion from its up­sized IPO on Wednes­day, sell­ing 8.3 mil­lion shares at $18 each. Then once trad­ing be­gan, the stock rock­et­ed up more than 50%, build­ing on a mar­ket cap that start­ed out at a cool $1 bil­lion. And un­der­writ­ers are like­ly to add to its big haul, with a shot at ac­quir­ing 1.25 mil­lion more shares at the IPO price.

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