Chinese drug developer Ascletis files for landmark HK IPO
Ascletis, a Chinese drug developer that has received funding from C-Bridge Capital, has filed for an IPO in Hong Kong. It is set to be the first listing in the territory under new rules that allow companies with zero revenue or profit to go public.
The size and pricing of the offering have yet to be decided. C-Bridge holds an 11.6% stake in the company, while Goldman Sachs has 4%. The two investors led Ascletis’ Series A round in 2014, contributing...
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