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Innovent Completes $421 Hong Kong IPO; Trading Begins in One Week

publication date: Oct 24, 2018

Innovent Biologics has priced its Hong Kong IPO to raise $421 million, very close to the top of the expected range. The company set its offering price at HK$13.98, just below the top of the range. The successful IPO shows investors are still interested in young China biopharmas, even though the three earlier pre-revenue biotech IPOs in Hong Kong saw their prices slide lower once they began trading. The IPO values Innovent at $2 billion; its shares will begin trading in one week, on October 31. More details....

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