Is HKEX ready to re­turn to biotech busi­ness? In­no­Care tests wa­ters with hopes to fetch $257M in IPO

The Covid-19 out­break may have forced In­no­Care Phar­ma to post­pone in­vestor meet­ings ahead of its pub­lic de­but on the Hong Kong Stock Ex­change, but it hasn’t stopped the biotech from car­ry­ing on with an IPO that could bring in $257 mil­lion (HKD1.993 bil­lion) at the mid­point.

The re­al test be­gins to­day. In­vestors now have five days to file their share ap­pli­ca­tions be­fore the fi­nal ex­pect­ed price is de­ter­mined next Mon­day and an­nounced next Fri­day. Trad­ing is ex­pect­ed to com­mence the week af­ter.

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