Fosun-backed Henlius Biotech set to open down 4% in HK debut

Shares in Shanghai Henlius Biotech, backed by Chinese conglomerate Fosun International, were set to open down 4% at HK$47.45 ($6.05) on their market debut in Hong Kong on Wednesday.

Henlius last week priced its initial public offering (IPO) in Hong Kong at the low end of an indicative price range of HK$49.6 to HK$57.8 per share, raising $410 million.

The IPO launched on Sept. 11 was seen as a test for investor appetite amid political unrest that has engulfed the Chinese-ruled territory for nearly four months and has weighed on its stock market.