In HKEX's first test in 2019, CStone seeks up to $304M in IPO for­tune

As the Nas­daq ush­ered in its first biotech uni­corns of 2019 with the list­ings of Alec­tor and Gos­samer, CStone is kick­ing things off at the Hong Kong Stock Ex­change with a po­ten­tial $304 mil­lion (HK$2.39 bil­lion) price tag on its IPO.

At the top of the range, each of the 186 mil­lion CStone shares would sell at $1.63 (HK$12.8). That’s down 23% from its orig­i­nal tar­get of $400 mil­lion ($HK$3.1 bil­lion), Caix­in re­port­ed. While the val­u­a­tion is un­clear, the com­pa­ny dis­closed in its prospec­tus that it was val­ued at $1.05 bil­lion in its most re­cent ven­ture round.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER