Two Chinese biotech firms drop US listing plans, tap HK for $800m floats

Photo: Pixabay

By Julie Zhu, Fiona Lau

April 26, 2018

Two Chinese biotechs have axed plans to list in New York and instead aim to raise up to $800 million in Hong Kong IPOs, seeking to cash in on new rules to woo early-stage drug developers, sources said.

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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