Innovent Bio pockets HK$2.4bn from top-up

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By Jonathan Breen
04 Oct 2019

Chinese biotechnology firm Innovent Biologics has raised HK$2.39bn ($304.3m) after selling a chunk of stock through a top-up placement.

The Hong Kong Stock Exchange-listed company hit the market on Thursday evening. Placing agents Goldman Sachs and Morgan Stanley launched an accelerated bookbuild for the transaction with a goal to place the stock with at least six investors.

The deal comprised 97m secondary shares, on offer at HK$24.30 ...

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