Stock rally spurs $854m overnight bookbuilds in HK

Hong Kong fireworks
By John Loh
07 Jun 2018

Hong Kong was a hotbed of accelerated bookbuild activity this week as two biotechnology firms and a property developer raised a combined HK$6.7bn ($854m) in primary and secondary equity.

On Monday evening, Genscript Biotech Corp, a drug developer, bagged HK$2.4bn from a follow-on offering of primary stock.

Placing agents Goldman Sachs and JP Morgan launched the deal, comprising 60m primary shares and 15m in secondary stock that were being sold down by the company’s president, Wang Ye. ...

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