GIC's stake in Harbour BioMed likely valued at around $81m at Hong Kong IPO price

Laboratory equipment. Photo: Pixabay

Singapore sovereign wealth fund GIC’s stake in the recently-listed Harbour BioMed was valued at around HK$626.83 million, or around $80.85 million, at the IPO price in Hong Kong last week.

China-based Harbour BioMed, also called HBM Holdings, priced the 138.22 million shares in its offering at HK$12.38 each, raising around HK$1.71 billion, or around $221 million, the company said in a press release on Wednesday. The shares began trading on December 10. The prospectus suggested a pricing range of HK$11.70 to HK$12.92.

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