BeiGene dips slightly in Hong Kong debut

BeiGene Ltd. (NASDAQ:BGNE; HKSE:6160) slipped HK$1 to HK$107 in its first day of trading on the Hong Kong exchange Wednesday. Last week, the company raised HK$7.1 billion ($902.7 million) by pricing its Hong Kong listing at HK$108.

The cancer company is the second biotech to go public on the exchange since Hong Kong Exchanges and Clearing Ltd. (HKEX) created a new prerevenue biotech chapter this year. The other, antiviral play Ascletis Pharma Inc. (HKSE:1672), closed at HK$11.14 Wednesday, about 20% below its IPO price of HK$14...