Leads Biolabs nearly doubles in first trading day after HK$1.3B Hong Kong listing

IPOs remain difficult to execute in the current environment, but another encouraging sign emerged late in the week in East Asia as an additional China-based company listed successfully in Hong Kong.

Nanjing Leads Biolabs Ltd. (HKEX:9887) priced a HK$1.3 billion (US$164.4 million) offering, selling shares at HK$35. Its aftermarket performance was auspicious, with shares doubling early Friday; they finished the session up 92% to HK$67.10...