Amid weeks of market turmoil and devastating stock market losses, choosing to list your company in the eye of the storm takes some courage.
The top brass at InnoCare Pharma, the Chinese clinical stage biopharmaceutical firm focused on cancer drug discovery, apparently unphased at the global economic unraveling caused by the COVID-19 outbreak, last week raised nearly $300 million. Oversubscribed by 300 times, the share price jumped 10% higher on the first day of trading last week when the Hong Kong bourse fell 5%.
While the company remains unprofitable, reporting a loss of Rmb650 million during the first nine months in 2019, according to the...
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