Chinese biopharmaceutical group JHBP shines in Hong Kong debut

Edding Genor group

07/10/2020 02:54

** Shares of Chinese biopharmaceutical group JHBP (CY)
Holdings Ltd  6998.HK  trade as high as HK$30.80 each in Hong
Kong trading debut, up 28.3% from the IPO price of HK$24 apiece
    ** Stock is the most actively traded share by turnover in
early trade 
    ** Stock later trims gain to HK$30.45, still up 26.9% from
the IPO price
    ** Shanghai-based JHBP, which develops and commercializes
oncology and autoimmune drugs, offered 119.88 mln shares at
HK$24 apiece in Hong Kong IPO, raising HK$2.88 bln ($371.6 mln)
to fund R&D, clinical trials, and for expansion of drug pipeline
 urn:newsml:reuters.com:*:nFWN2GJ0LE
    ** Twelve cornerstone investors, comprising Hillhouse
Capital, Orbimed, Tigermed, Temasek Holdings, Pacific Asset
Management, Matrix, Logos, Ping An Insurance, Tudor, 3W, Athos
and YF Life, subscribed for a total $187 mln worth of shares
    ** The Hang Seng China enterprises index  .HSCE  eases 0.2%,
while the benchmark index  .HSI  slides 0.1%
($1 = 7.7500 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)