Date Bytes: Everest among five largest IPOs on Hong Kong’s biotech chapter

Last week’s $451 million IPO from Everest makes the top five list, in terms of amount raised, among the 19 biopharmas that have gone public on the Hong Kong stock exchange’s biotech chapter since it opened up to pre-revenue companies in April 2018. 

If shareholders exercise the overallotment in full, Everest Medicines Ltd. (HKEX:1952) will become the biggest IPO done on the chapter, raising about $520 million. The company, which was the seventh biotech to make its public debut on the exchange this year, listed at a postmoney valuation of $2.1 billion. ...