CanSi­no reaps $748M wind­fall from Shang­hai IPO — as it warns Covid-19 vac­cine won't be a huge mon­ey mak­er

CanSi­no be­gan the year with a clear goal to se­cure a sec­ondary list­ing on Shang­hai’s STAR mar­ket. Then some­thing more ur­gent came along: As a ris­ing vac­cine de­vel­op­er on a mis­sion to bring glob­al stan­dard im­mu­niza­tions to Chi­na, it heed­ed the call to make a vac­cine to pro­tect against a virus that would par­a­lyze the whole world.

Xue­feng Yu and his team man­aged to keep do­ing both.

More than a month af­ter CanSi­no’s Covid-19 vac­cine can­di­date is au­tho­rized for mil­i­tary use in Chi­na, the Hong Kong-list­ed com­pa­ny has made a roar­ing de­but in Shang­hai. It fetched $748 mil­lion (RMB$5.2 bil­lion) by float­ing 24.8 mil­lion shares, and soared 88% on its first trad­ing day.

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