Temasek-backed Chinese biotech firm Innovent Biologics eyes HK IPO

Photo: Innovent Biologics website

Innovent Biologics Inc, a Chinese biotech firm backed by Singapore’s Temasek Holdings, has filed for an initial public offering (IPO) in Hong Kong, which, for the first time, allows pre-revenue biotech firms to list.

Its IPO prospectus has not specified the size and pricing of the offering yet but an earlier report by Reuters said the Suzhou, Jiangsu province-based company is seeking to raise up to $500 million.

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