Retail, institutional investors storm Akesobio IPO

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By Jonathan Breen
16 Apr 2020

Bankers working on Akesobio’s IPO are preparing for a tough allocation process as a flood of retail demand for the Hong Kong listing is set to leave little for institutional accounts, said a source close to the deal.

The Chinese biopharmaceutical firm launched a virtual roadshow for its up to HK$2.58bn ($332.9m) IPO on Tuesday, amid numerous country-wide lockdowns globally to combat the Covid-19 coronavirus pandemic. The deal is set to be priced on Friday.

A seven-strong syndicate, led by JP Morgan and Morgan Stanley, had ...

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