Shanghai Junshi Biosciences soars on HK debut after $394m IPO

Shanghai Junshi Biosciences soars on HK debut after $394m IPO

Chinese biotech startup Shanghai Junshi Biosciences Co Ltd soared more than 22 per cent in its Hong Kong debut on Monday after raising $394 million in its IPO, a rare strong showing by a biotech company in the Asian financial hub.

Shares of Junshi Biosciences opened at HK$23.50 ($3.00) and closed at HK$23.7, about 22 per cent above the initial public offering (IPO) price of HK$19.38.

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