SinoMab prices Hong Kong IPO low

Hong Kong island adobe stock 230x150
By Rashmi Kumar
06 Nov 2019

Biopharmaceutical firm SinoMab BioScience has priced its Hong Kong listing at the bottom of guidance to raise HK$1.4bn ($178.6m), finding support from global long-only funds on the last day of bookbuilding.

IPO sponsors CICC and Orient Securities opened the deal on October 30. On offer were 182.1m shares at a range of HK$7.60 to HK$9.60 a share.

Initially, the plan was to close the deal with support mainly from Chinese corporations as strategic investors, said a banker close ...

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