Junshi IPO on deck in Hong Kong

Shanghai Junshi Biosciences Co. Ltd. (Shanghai, China) disclosed on Dec. 11 plans to sell 158.9 million shares at HK$19.38-HK$20.38 in an IPO on the Hong Kong stock exchange. At the HK$19.88 midpoint, Junshi would raise HK$3.2 billion ($404.5 million) for a valuation of about HK$15.1 billion ($1.9 billion).

Of the 158.9 million proposed shares, 15.9 million are slated for Hong Kong investors with the remainder set aside for the international community...