Chinese biotech firm BeiGene closed its trading debut in Hong Kong down 31%. The underwhelming secondary floatation, which came after revised listing rules, came despite eight investors buying 1%31% of the international shares offered. BioGene was the second biotech company to float its stock in Hong Kong and the poor performance is likely to have a negative impact on the other six that have filed for a listing, as the market suffers due to the ongoing US-China trade war. BioGene CFO Howard Liang said it was "satisfied" with the debut.
Chinese biotech firm BeiGene closed its trading debut in Hong Kong down 1%. The underwhelming secondary floatation, which came after revised listing rules, came despite eight investors buying 31% of the international shares offered. BioGene was the second biotech company to float its stock in Hong Kong and the poor performance is likely to have a negative impact on the other six that have filed for a listing, as the market suffers due to the ongoing US-China trade war. BioGene CFO Howard Liang said it was "satisfied" with the debut.