HKEX sees much needed listings boost

After a slow start to the year, confidence is slowly returning to the city's equity market, with QuantumPharm about to become the third largest listing of the year.
June 10, 2024

In a boost to the local economy, the Hong Kong Stock Exchange HKEX has seen several larger applications to list in recent weeks, with the overall number of applications so far this year above 100. 

This includes QuantumPharm, a pre-revenue Tencent-backed artificial intelligence drug researcher, which this week raised HK$989.3 million $126.8 million at HK$5.28 a share, before its listing on June 13. Citic Securities is the sole sponsor on the deal. 

QuantumPharm will be the HKEX's third largest listing this year after Sichuan Baidao Industrial's HK$2.58 billion IPO in April and RoboSense Technology's HK$1.06 billion...

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