BeiGene announces Hong Kong IPO worth up to a billion dollars
One year after raising $800 million in a follow-on public offering, BeiGene (Nasdaq: BGNE) has announced it will list on the Hong Kong stock exchange with an initial public offering (IPO) expected to bring in an even greater sum for the Beijing-based firm.
BeiGene’s American Depositary Shares (ADS) are currently listed on the Nasdaq Global Select Market under the symbol “BGNE.” Each ADS represents the right to receive 13 ordinary shares.
The news comes shortly after Chinese biotech Ascletis Pharma (HK: 1672) successfully raised a record-breaking $400 million with its IPO in Hong Kong, under new rules which allow startups with no income or profits a place on the main-board listing.
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