Deals
Biotech Firm InnoCare Delays Hong Kong IPO Step on Virus Fears
- InnoCare postponed meetings this week for Hong Kong IPO
- Hong Kong stocks have slumped since the Lunar New Year holiday
Pedestrians wearing protective masks are reflected in an advertisement in the Central district of Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
The world’s top initial public offering market has seen the impact of the novel coronavirus outbreak as a Chinese biotech firm decided to postpone investor meetings for its Hong Kong listing.
InnoCare Pharma Ltd., which develops treatments for cancer and autoimmune diseases, held off its plans to start gauging demand this week because of the widening virus epidemic, according to people familiar with the matter, who asked not to be identified as the information is private. The company had been planning to raise around $200 million from the IPO, the people said. A representative for Innocare declined to comment.