ARTICLE | Financial News

Local demand high for Alphamab Oncology’s Hong Kong IPO

December 11, 2019 4:27 AM UTC
Updated on Dec 12, 2019 at 1:18 AM UTC

Local investors secured additional shares as Alphamab Oncology Ltd. (HKEX:9966) priced its IPO on the Hong Kong stock exchange Wednesday in a deal that raised HK$1.8 billion ($233.8 million) and valued the company at HK$9.1 billion as the exchange's biotech chapter approaches the end of its second year.

The company sold 179.4 million shares at HK$10.20, the top of its proposed range of HK$9.10-HK$10.20 (see “Alphamab Oncology Sets Sights on $220M IPO”)...