IPO

SinoMab's $223m IPO extends HK biotech craze

SinoMab pushes forward with what could be the fourth-largest biotech listing in Hong Kong this year as investors' appetite for the sector picks up.
October 31, 2019

SinoMab BioScience is set to become the tenth biotech listing in Hong Kong so far this year as it looks to raise HK$1.75 billion $223 million from an initial public offering.

The Hong Kong-headquartered firm seeks to sell 182 million shares priced between HK$7.6 and HK$9.6 according to the deal prospectus, with a roadshow underway.

Around $60 million worth of shares have been set aside for cornerstone investors, Yunnan Baiyao Group and Reach Software.

The pharmaceutical firm is the latest in a series of IPOs to launch this month, bringing the total value of Hong Kong IPO shares...

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