Temasek-backed Innovent Biologics makes 5% gain in Hong Kong debut

Photo: Innovent Biologics website

Innovent Biologics climbed 5 per cent in a Hong Kong debut closely watched as a test of investor appetite for Chinese biotechs after three rivals saw their shares slide post-listing.

The Chinese biotech – backed by mutual fund giant Fidelity and Singapore state investor Temasek Holdings – was trading at HK$14.7 on Wednesday morning, above its IPO price of HK$13.98.

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