New Horizon Health Triples in Hong Kong IPO Debut

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Date: 24.02.2021

Chinese cancer screening biotech firm New Horizon Health Ltd. more than tripled on its Hong Kong debut on Thursday, notching the biggest first-day rise in the city’s history for initial public offerings raising at least HK$2 billion ($258 million).

New Horizon Health closed at HK$84, up 215% from the offer price of HK$26.66, which was already at the upper end of a marketed range. The biotech company raised $263 million in the IPO.

Over 1 million Hong Kong investors put in orders worth some HK$844 billion for Qiming Venture Partners-backed New Horizon Health’s IPO. That represents a subscription rate of 4,133 times, the second-highest on record after Most Kwai Chung’s 2018 IPO, according to data compiled by Bloomberg.

The article was prepared based on the information: Bloomberg

 

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