Akeso Biopharma trades up after $333m Hong Kong IPO
Akeso Biopharma, a private equity-backed Chinese drug developer specializing in treatments that use the immune system to fight cancer, saw its stock jump 50% in early trading on the Hong Kong Stock Exchange following a HK$2.58 billion ($333 million) IPO.
The company’s shares opened at HK$23.80 and soon rose as high at HK$24.25 before settling back to HK$23.80 towards the end of morning trading on April 24. Akeso sold approximately 149.5 million shares...
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