Chinese biotech firm Everest Medicines shines in Hong Kong debut

Everest Medicines

09/10/2020 02:47

** Shares of Chinese biotech company Everest Medicines Ltd
 1952.HK  rise as much 30.7% to HK$71.90 in Hong Kong debut on
Friday compared to their IPO price of HK$55 apiece
    ** Most actively traded stock by turnover in early trade 
    ** Shanghai-based company offered 63.55 mln shares for sale
in its Hong Kong IPO, raising HK$3.49 bln ($450.3 mln) to fund
clinical trials, commercialisation of drug candidates and for
expansion of drug pipeline  urn:newsml:reuters.com:*:nFWN2GL0TN
    ** Sixteen cornerstone investors are putting in a total of
$225 mln in Everest Medicines, which has eight drug candidates
focusing on oncology, autoimmune disorders, and cardio-renal and
infectious diseases  urn:newsml:reuters.com:*:nL4N2GQ0IY
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.6%, and the benchmark index  .HSI  gains 0.3%
    

($1 = 7.7501 Hong Kong dollars)

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