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ARTICLE | Financial News

Ascletis trades flat in Hong Kong debut

Paul Bonanos
August 1, 2018 3:12 PM UTC

Ascletis Pharma Inc. (HKSE:1672) shares ended the day unchanged at HK$14 in the company's first day of trading Wednesday. The antiviral company raised HK$3.1 billion ($400 million) in its IPO through the sale of 224.1 million shares, giving it a valuation of HK$15.7 billion ($2 billion).

Ascletis is the first biotech to make its debut on the Hong Kong exchange since Hong Kong Exchanges and Clearing Ltd. (HKEX) created a new pre-revenue chapter, opening the door for biotechs to list (see "First Out the Gate")...

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