VC-backed SinocellTech enjoys strong Star Market debut
Chinese drug developer SinocellTech nearly trebled in value on its first day of trading on China's Science and Technology Innovation Board (Star Market) following a RMB1.28 billion ($181 million) IPO.
The company sold 50 million shares at RMB25.6 apiece. It then opened RMB85 on June 22, becoming the largest biotech player listed on the Star Market with a market capitalization of RMB37 billion. SinocellTech...
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