In­novent to seek $400M-plus on Hong Kong IPO, re­ports say; will it re­vive biotech's for­tunes on HKEX?

With a clear goal to lead the first biosim­i­lar wave in Chi­na while giv­ing a go at new drug in­no­va­tion, In­novent Bi­o­log­ics has been rais­ing im­pres­sive sums of cash in the past cou­ple of years, set­ting some do­mes­tic records along the way. And now, it’s look­ing poised to ride that mo­men­tum all the way to the top of Hong Kong’s stock ex­change.

Re­ports are emerg­ing that the Shang­hai-based drug­mak­er, which is sched­uled to price its IPO on Oc­to­ber 23, aims to raise be­tween $400 mil­lion to $500 mil­lion. Reuters’ sources put the fig­ure at $422 mil­lion — pos­si­bly mak­ing it the biggest pub­lic de­but of any biotech since they have been al­lowed on­to Hong Kong’s mar­ket this April.

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