Chinese Aidea Pharma marks debut on STAR Market, raises $120m

Jiangsu Aidea Pharmaceutical Co., Ltd has marked its debut on the Nasdaq-style STAR Market of the Shanghai Stock Exchange (SSE) after raising 839 million yuan ($120 million) in its IPO, according to a company filing with the bourse on Monday. 

The company, which kicked off its IPO subscription exercise on July 7, sold 60 million common shares at a price of 13.99 yuan ($2) apiece. Its share opened at 35 yuan ($5), up 150.17 per cent compared to its IPO price. Its market capital value runs to 12.85 billion yuan ($1.8 billion).

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