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Hua Medicine Stages $110 Million Hong Kong IPO at $1.1 Billion Valuation

publication date: Sep 14, 2018

Hua Medicine of Beijing raised $110 million in a Hong Kong IPO at a valuation of $1.1 billion, the second pre-revenue China biopharma to list on the exchange. The offering was expected to bring in $200 million, but market sentiment has become  cautious. The IPO priced at the low end of the range, initially moved lower in its first trading session, and then climbed back to the offering price by the close. Hua will complete clinical trials of its lead drug candidate, dorzagliatin, a GKA activator for type 2 diabetes, in 2019. More details....

Stock Symbol: (HK: 2552)

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