BioCentury
ARTICLE | Financial News

Innovent shares rise in first day of Hong Kong trading

October 31, 2018 2:19 PM UTC

Innovent Biologics Inc. (HKSE:1801) gained HK$2.60 (19%) to HK$16.58 in its first day of trading Wednesday, delivering the strongest first-day performance yet for a biotech listing on the Hong Kong stock exchange's new biotech chapter.

Last week, the cancer and autoimmune company raised HK$3.3 billion ($421 million) in a listing priced near the top of its proposed range, valuing the company at $2 billion. Underwriters are Morgan Stanley, Goldman Sachs, J.P. Morgan, CMS, Huatai Financial and HSBC (see "Innovent Raises $421M In Hong Kong IPO")...

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