Chinese drug developer Kintor surges on Hong Kong debut

Kintor Pharmaceutical

22/05/2020 03:46

** Shares of Chinese clinical-stage novel drug developer
Kintor Pharmaceutical Ltd  9939.HK  rise as much as HK$22.15 on
its trading debut on Friday, 9.9% above their IPO price of
HK$20.15 each 
    ** Stock ranks the fifth most actively traded shares in
morning trade 
    ** Stock trims early gains to HK$22.05, still up 9.4% from
the IPO price, as of 0241 GMT
    ** The Jiangsu-based cancer drug developer also offered
92.35 mln shares in Hong Kong IPO, raising HK$1.86 bln ($239.9
mln) to fund development and commercialisation of core products,
for clinical trials and R&D of pre-clinical stage drug
candidates  urn:newsml:reuters.com:*:nFWN2D20U1
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 3.2%
    ** The Hang Seng China enterprises index  .HSCE  declines
2.7%, while the benchmark index  .HSI  drops up to 3.3%
    ($1 = 7.7527 Hong Kong dollars)

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