Move over, Hong Kong: Shang­hai’s new tech board sees fer­vent de­mand for maid­en biotech IPO

Days af­ter tak­ing off to a buoy­ant start, Shang­hai’s STAR mar­ket — Chi­na’s push to open up a new fundrais­ing av­enue for do­mes­tic fledg­ling tech com­pa­nies — has some good news to re­port about its biotech debu­tant.

Shen­zhen Chip­screen Bio­sciences has priced its shares at RMB 20.43 ($2.96) per share in an over­sub­scribed IPO, the com­pa­ny said in a fil­ing. That could trans­late to  RMB 1 bil­lion, or al­most $145 mil­lion, in IPO pro­ceeds, with a val­u­a­tion of $1.21 bil­lion, ac­cord­ing to a fil­ing cit­ed by Reuters.

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