BioCentury
ARTICLE | Finance

First-day pop gives SinocellTech massive market cap on Shanghai’s STAR

June 22, 2020 7:44 PM UTC

With a first-day stock move that nearly tripled its share price, SinocellTech became the highest-valued biotech traded on Shanghai’s STAR market since the launch of its biotech chapter last year.

SinocellTech Ltd. (Shanghai:688520) climbed 185% to RMB73.07 in its first day of trading Monday. Earlier this month, the company had sold 50 million shares at RMB25.64, raising RMB1.3 billion ($181.3 million) and attaining a valuation of RMB11.2 billion. With Monday’s move, SinocellTech’s market cap rose to about RMB32 billion ($4.5 billion)...

BCIQ Company Profiles

Sinocelltech Group Ltd.