Ascletis sets terms for Hong Kong IPO

In a regulatory filing, antiviral company Ascletis Pharma Inc. (Hangzhou, China) revealed terms of its planned IPO on the Hong Kong exchange. The company hopes to raise HK$2.7-HK$3.6 billion ($342.7-$456.9 million) through the sale of 224.1 million shares at HK$12-HK$16, and expects to start trading Aug. 1.

Ascletis has earmarked 22.4 million shares for local Hong Kong investors and 201.7 million for global investors. GIC, the sovereign wealth fund of Singapore, is to invest $75 million. Underwriters are Morgan Stanley, Goldman Sachs and China Merchants Securities...