On its way to mak­ing Hong Kong his­to­ry, As­cle­tis eyes $457M haul in GIC-backed IPO

Hong Kong’s stock ex­change will in­duct its first pre-rev­enue biotech as ear­ly as Au­gust 1, as As­cle­tis fi­nal­izes its plans to raise as much as $457 mil­lion in an IPO.

The Hangzhou-based biotech plans to sell 224.1 mil­lion shares in the $12 to $16 range. That’s ac­cord­ing to deal terms shared among in­vestors and re­viewed by me­dia out­lets in­clud­ing Reuters Hong Kong and Bloomberg. At the low end, As­cle­tis would still bag $343 mil­lion.

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