BioCentury
ARTICLE | Financial News

Innovent raises $421M in Hong Kong IPO

October 24, 2018 9:05 PM UTC

Cancer and autoimmune company Innovent Biologics Inc. (HKSE:1801) priced its IPO on the Hong Kong stock exchange, raising HK$3.3 billion ($421 million), according to a source close to the deal who asked not to be named.

Innovent sold 236.4 million shares at HK$13.98, near the top of its proposed range of HK$12.50-HK$14. The offering values Innovent at $2 billion. Underwriters were Morgan Stanley, Goldman Sachs, J.P. Morgan, CMS, Huatai Financial and HSBC. ...