Ascletis Pharma Inc., the first biotech company to take advantage of new Hong Kong listing rules, is seeking to raise as much as $457 million in an initial public offering in the city.
The company is offering 224.1 million shares at HK$12 to HK$16 apiece, according to terms for the deal obtained by Bloomberg. Singapore sovereign wealth fund GIC Pte agreed to buy $75 million of stock as a cornerstone investor, the terms show.
