June 13 Financial Quick Takes: Hansoh prices $1B HKEX IPO; plus Provention, Genome Medical, InGeneron and more
Hansoh gets $10B-plus valuation via Hong Kong IPO
Hansoh Pharmaceutical Group Co. Ltd. (HKSE:03692) priced its Hong Kong IPO Thursday, raising HK$7.9 billion ($1 billion) through the sale of 551.3 million shares at HK$14.26. The price values the Chinese pharma at HK$81.4 billion ($10.4 billion). Hansoh, which will begin trading on Friday, is developing therapies for cancer, diabetes, anti-infectives and CNS, gastrointestinal and cardiovascular diseases.
Provention steps back from offering
Provention Bio Inc. (NASDAQ:PRVB) withdrew its proposed follow-on, citing market conditions. The disease interception play had proposed the deal Monday after gaining $9.44 (217%) to $13.79 on the back of positive Phase II data for anti-CD3 mAb teplizumab in Type I diabetes. Provention ended down $0.64 to $11.21 Thursday (see “Provention Could Use Data from Diabetes Consortia to Bring Teplizumab to Market Faster”)...