The drug developer will be the second biotech firm to list in Hong Kong without any profits or revenues. It believes that China’s underpenetrated biologics market provides a massive opportunity in the long run.
The regional Chinese lender launches an initial public offering to raise $1.1 billion and looks set to become the third bank classed as a rural financial institution to list in Hong Kong.
Chinese biopharmaceutical firm to list biologics arm in Hong Kong after delisting in New York in 2015. All the signs are it will deliver healthy returns for backers of its privatisation.