PE-backed Mabpharm trades down after $157m HK IPO
Mabpharm, a China-based biopharmaceutical company backed by CDH Investments, saw its stock drop almost 20% on debut following a HK$1.23 billion ($157 million) IPO in Hong Kong.
According to a filing, a total of 823 million shares - including an overallocation - were sold at HK$1.50 each, the low end of the indicative range. After its debut on May 31 the stock closed at HK$1.21;...
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