Chinese biotech firm Ascletis said to raise $400m in HK IPO

Chinese biotech firm Ascletis said to raise $400m in HK IPO

Ascletis Pharma

Chinese biotech Ascletis Pharma Inc raised $400 million after pricing its initial public offering (IPO) in the middle of an indicative range, three sources said, in the first such Hong Kong listing under new rules designed to attract early-stage biotech firms.

The initial public offering (IPO) is widely seen as a test of the new regime as Hong Kong seeks to establish itself as a financing centre for the growing number of Chinese drug developers.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter