Hotline: 1800 102 2007
X
Search Business Opportunities
Aug, 02 2018

BeiGene raises $903 mn in HK's first secondary listing under new rules

Hong Kong's stock exchange aims to establish itself as a financing centre for the growing number of pre-revenue drug developers.

China based Nasdaq-listed biotech firm BeiGene Ltd has raised $903 million after pricing its secondary listing in Hong Kong the first under new exchange rules near the top of an indicative range, three people close to the deal said on Thursday.

The listing was revealed Hong Kong has been into the gaining the international firms to conduct secondary share offerings in the financial hub. It is the firms second listing under new rules for early-state drug developers.

Hong Kong's stock exchange aims to establish itself as a financing centre for the growing number of pre-revenue drug developers. Its efforts will make the stock exchange to go against Nasdaq, which currently has the biggest centers in biotech listings, with $2.4 billion worth of such shares sold last year, Thomson data showed.

Having established its base in molecularly targeted and immuno-oncology drugs to treat cancer, BeiGene, is selling 65.6 million new shares, or 8.55 percent of its enlarged share capital, at HK$108 ($13.76) each, close to the top of a price range of HK$94.4 to HK$111.6, the people said.

The price of its secondary listing represents a discount of 1.6 percent against its closing price of $181.74 in the U.S. on Wednesday.

Comment
image
Related opportunities
  • About Us: “Little Laureates”, is the largest self-operated digitally enabled Pre-school..
    Locations looking for expansion West bengal
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Sakltlake West bengal
  • Juices / Smoothies / Dairy parlors
    About: Chaai Resto” has a team of highly motivated individuals with..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Laundry & Dry Cleaning
    About U Clean: At UClean, we are building India's first organized..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi New Delhi
  • Fitness Equipment Stores
    About Us: The 9ROUND business is a complete kickboxing workout that guarantees results..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities