Junshi gains after Hong Kong IPO

Shanghai Junshi Biosciences Co. Ltd. (HKSE:1877) gained HK$4.37 (23%) to HK$23.75 in its first day of trading Dec. 24 after raising HK$3.1 billion ($393.2 million) through the sale of 158.9 million shares at HK$19.38 in its IPO. The stock held its gains to finish the week at HK$23.80.

The offering price, which was announced Friday, Dec. 21, valued the company at HK$14.7 billion ($1.9 billion)...