Viva Biotech Completes $194 Million Hong Kong IPO; Trades Higher

Published on: May 10, 2019
Author: Amy Liu

Viva Biotech, a Shanghai CRO, raised $194 million in its Hong Kong IPO, and then traded higher in public trading, ending the week with a 14% gain. Viva is a structure-based, integrated drug discovery CRO that offers an Equity for Service model to selected clients. The IPO attracted the heaviest investor interest of any of the first eight Hong Kong pre-revenue biotech IPOs, which caused the underwriters to send more shares to local investors and fewer to international buyers. The IPO priced at the top of the expected range.

Source: China Biotoday

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