Hong Kong IPO de­liv­ers $421M to In­novent as an­oth­er one of Chi­na's biotech uni­corns hauls in big mon­ey

Say what you may about the biotech chap­ter of the Hong Kong Stock Ex­change, but it has not stopped In­novent Bi­o­log­ics from reap­ing $421 mil­lion in its pub­lic de­but — the largest of the three maid­en IPOs so far.

Sources have told Reuters and Bloomberg that the Suzhou-based uni­corn priced 236.35 mil­lion shares near the top of the range at HK$13.98 — rough­ly $2 USD — mar­ket­ing them in the HK$12.50 to HK$14 range.

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