Deals
Frontier, Kintor Are Said to Join Hong Kong Biotech Listing Wave
- Firms preparing IPOs that could raise about $300 million each
- First mover Ascletis Pharma is trading below offer price
Photographer: David Paul Morris/Bloomberg
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Two more Chinese drug developers are seeking initial public offerings in Hong Kong, adding to the growing wave of biotech firms taking advantage of the city’s new listing rules.
Suzhou Kintor Pharmaceuticals Inc. and Frontier Biotechnologies are planning Hong Kong stock offerings that could each raise about $300 million, according to people with knowledge of the matter. The companies could list as soon as this year, the people said, asking not to be identified because the information is private.