Brii Biosciences, Broncus Among HK-Listed Firms Exposed to SVB

Pedestrians walk past an electronic ticker board outside the Exchange Square complex in Hong Kong, China. Photo: Bloomberg

(Bloomberg) -- Brii Biosciences Ltd. and Broncus Holding Corp. were among Hong Kong-listed firms that disclosed cash deposits at troubled U.S. lender Silicon Valley Bank, with most emphasizing the amounts were immaterial to their operations.

At least a dozen firms, mainly involved in biotechnology, listed SVB as their banker in exchange filings, according to activist investor and founder of Webb-site.com David Webb. That puts hundreds of millions of dollars at risk for these small-cap firms, of which many are in their early stages of operation and unprofitable.