Hong Kong comeback continues as GenFleet doubles in first-day trading: Finance Report

After an extended slowdown, the pace of fundraising events on the Hong Kong stock exchange has picked up in recent months, with the market showing increased demand for new biotech listings. The latest to receive a warm welcome is GenFleet, which doubled in its first trading day on Friday.

After pricing its offering at HK$20.39 to raise HK$1.8 billion ($234 million), GenFleet Therapeutics (Shanghai) Inc. (HKEX:2595) finished its first trading session at HK$42.10, up 106%. The last biotech to list in Hong Kong, Guangzhou Innogen Pharmaceutical Group Co. Ltd. (HKEX:2591), also received a warm reception, nearly tripling in the early aftermarket...