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.

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