AstraZeneca, Eli Lilly and Sinopharm all achieved exits as the cancer therapy developer listed on the Hong Kong Stock Exchange at a reported valuation of nearly $1.1bn.

Abbisko Therapeutics, a China-based oncology therapeutics developer backed by pharmaceutical groups AstraZeneca, Eli Lilly and Sinopharm, has floated in a HK$1.75bn ($226m) initial public offering on the Hong Kong Stock Exchange.

The IPO involved Abbisko issuing about 141 million shares on the first day of trading at the top of its HK12.16 to HK$12.46 ($1.56 to $1.60) range, giving the company a market capitalisation of almost $1.1bn, according to DealStreetAsia.

Joint sponsors JP Morgan and Morgan Stanley told investors on…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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