Chi­na's CRO pow­er­house Tigermed to seek $1B IPO in Hong Kong — re­port

Hong Kong’s ef­fer­ves­cent bio­phar­ma IPO mar­ket could see its biggest de­but of the year yet.

Hangzhou Tigermed, a clin­i­cal re­search ser­vice provider that al­so in­vests in biotech com­pa­nies, has been ap­proved for a list­ing on the HKEX and is look­ing to raise about $1 bil­lion, Bloomberg re­port­ed. It would be a dual list­ing for the Shen­zhen-list­ed com­pa­ny.

Through its US-based sub­sidiary Frontage Hold­ings, Tigermed has seen first-hand just how much ap­petite in­vestors have for HKEX health­care stocks. The com­pa­ny, which be­gan trad­ing last Ju­ly, is now trad­ing 39% above its de­but price.

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