Hong Kong queue swells with IPO, dual listing candidates: Finance Report

Most new listings on the Hong Kong stock exchange this year have been received warmly, with five recent offerings at least doubling in value during their first trading day. This week, four more biopharmas entered the Hong Kong queue for either an IPO or a dual listing.

The metabolic portfolio of BrightGene Bio-Medical Technology Co. Ltd. (Shanghai:688166) could attract attention as the Suzhou-based company seeks a dual listing. The biotech’s BGM0504, a GLP-1/GIP dual agonist, has reached Phase III testing in China to treat obesity and Type II diabetes; its long-acting amylin analog BGM1812 has reached the clinic, too. BrightGene also has a respiratory portfolio that includes a therapy for asthma approved recently in China, and multiple clinical products for chronic obstructive pulmonary disease (COPD)...