Sequoia Capital-backed Chinese biopharma firm BrightGene has collected 521 million yuan ($75 million) in its initial public offering on the Shanghai Stock Exchange (SSE), according to a statement on Friday.
BrightGene issued 41 million shares at 12.71 yuan apiece ($1.82). The stock opened 130 per cent higher with its market value exceeding 12 billion yuan ($1.7 billion), the statement noted.
