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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