China's AI drug research group QuantumPharm shines in Hong Kong debut

XtalPi Holdings

13/06/2024 06:47

** Shares of Chinese AI drug research group QuantumPharm
 2228.HK  traded as high as HK$6.58 each in Hong Kong trading
debut, up 24.6% from their IPO price
    ** Stock last up 14.2% vs IPO price of HK$5.28, riding on
broader market's  .HIS  firmer tone
    ** Tencent-backed QuantumPharm is the first to list under HK
bourse's new listing rules for specialist technology companies
    ** HK Financial Secretary Paul Chan said in the listing
ceremony that introduction of new listing mechanism is to
support and provide financing channels for innovative firms
    ** QuantumPharm offered 187.4 mln shares, raising HK$989 mln
($127 mln)
    ** Hang Seng Commerce & Industry Index  .HSNC  gains 0.7%,
healthcare index  .HSCIH  rises 1.4% and Hang Seng Index  .HSI 
climbs 0.4%
 
 ($1 = 7.8086 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))