BeiGene bags a staggering $903M IPO on the HKEX — and still manages to spark some nervous fretting
BeiGene’s secondary IPO on the Hong Kong exchange says a lot about the sky-high expectations of the biotechs lining up to cash in there under more liberal listing rules.
The biotech raised $903 million, and that was on the low end of the range.
HKEX is commanding attention from biopharma for a second day with the news that BeiGene’s IPO fell shy of the $1 billion ceiling it was reaching for.
BeiGene’s secondary IPO, as reported by Reuters, comes as biotechs join the queue for a bonanza of windfall raises in Hong Kong. The first of them, Ascletis Pharma, began trading Wednesday after pocketing $400 million and closed flat.
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