Mabpharm kicks off $195m Hong Kong IPO

By Jonathan Breen
20 May 2019

Biopharmaceutical company Mabpharm has launched the deal roadshow for its IPO and is targeting proceeds of up to HK$1.53bn ($194.7m).

The Chinese firm has yet to generate any revenue, recording losses of Rmb47.7m ($6.9m) and Rmb149.8m in 2017 and 2018, respectively. But it is taking advantage of the HKEX rule added in April last year that allows pre-revenue biotechnology companies to list.

The IPO comprises 783.6m shares, ...

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