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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