Caixin
Jul 30, 2018 06:47 PM
BUSINESS & TECH

Biotech Highflier BeiGene Seeks Elixir With Second Listing

Biotech startup BeiGene aims to raise about $1 billion through a public listing in Hong Kong. Photo: VCG
Biotech startup BeiGene aims to raise about $1 billion through a public listing in Hong Kong. Photo: VCG

Biotech startup BeiGene Ltd. is aiming to raise about $1 billion through a public listing in Hong Kong, in what would become the second such initial public offering (IPO) by a money-losing drugmaker under newly relaxed stock exchange rules designed to attract such high-growth firms.

The listing would also make BeiGene one of the first private Chinese companies to have dual listings in both New York, where it first went public on the Nasdaq Stock Market in 2016, and also in Hong Kong. China has also rolled out its own plan to attract high-growth startups like BeiGene by creating an expedited approval process allowing such firms to jump the line ahead of firms from traditional sectors that have often been waiting much longer.

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